Analysis

Price Analysis – 30th April to 7th May

Price Analysis – 30th April to 7th May

Disclaimer: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of ToshiTimes.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The week that experienced the end of April and the start of May got cryptocurrencies jumping around in high volatility.

Toshi Times analyses the top 5 cryptocurrencies according to the market cap which are-

Bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS.

BTC/USD (Bitcoin)

The BTC/USD at standard UTC of 14:04 on 7th May is reported to be priced at $9201.1.

On April 30th at 00:00 it was $9381.9 which started to fall until May 1st to $8944.

Right after this, it started to rise rapidly until May 6th to the point of about $9930.

It fell thereafter; the resistance level of $9950 is a little hard to break.

ETH/USD (Ethereum)

The ETH/USD at standard UTC of 14:56 on 7th May is reported to be priced at $717.54.

On April 30th at 00:00 it was $691.98 which started to fall until May 1st to $634.66.

Right after this, it started to rise rapidly till May 6th to the point of about $837.

It fell after that; the resistance level of $850 is not going to be so easy to break through.

XRP/USD (Ripple)

The XRP/USD at standard UTC of 15:00 on 7th May is reported to be priced at $0.81754.

On April 30th at 00:00 it was $0.85657 which started to fall until May 1st to $0.78813.

Right after this, it started to rise rapidly till mid of May 5th to the point of about $0.92244.

It fell after that; the next resistance level is $0.92500.

BCH/USD (Bitcoin Cash)

The BCH/USD at standard UTC of 15:09 on 7th May is reported to be priced at $16219.9.

On April 30th at 00:00 it was $1425.2 which started to fall until May 1st to $1265.2.

Right after this, it started to rise rapidly till mid of May 5th to the point of about $1820.

It fell after that; portraying the next resistance level is $1840.

Eos/USD

The Eos/USD at standard UTC of 15:16 on 7th May is reported to be priced at $17.8080.

On April 30th at 00:00 it was $21.3665 which started to fall until May 1st to $16.2222.

Right after this, it started to rise rapidly till mid of May 3rd to the point of about $19.480.

It then started to fluctuate between 17.0000 and 18.5000 after that.

What has been noticed in the last week is that Bitcoins and altcoins are all aligned regarding rises and falls. There is a correlation between the cryptocurrencies.

However, EOS is a bit different from the rest and follows a different pattern.

Image Source: “Flickr”


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