Press "Enter" to skip to content

Bitcoin (BTC/USD) and Ethereum(ETH/USD) Price Analysis – May 31, 2019

  • Bearish Indicator for Bitcoin, can drop to $7300 or even $6400 if support at $8200 fails.
  • Bearish Divergence on Ethereum, can drop to $170 if support at $230 breaks. Can hit $400 if market breaks $300.

Pranjal Sharma’s technical analysis for BTC and ETH is already live on our youtube channel, and the video is in Hindi. Hence this article is pretty much a translation of the same.

BTC/USD – Bearish

After a massive fall from $9000, BTC seems to have held on to its support levels and slowly rising up. But, if the support at $8200 breaks, it is likely that we will see price drop to $7300 or even $6400.

The indicators seems to be calling for a bearish market, however RSI has seen a positive momentum and if it holds, there may be an upward momentum taking Bitcoin to $9500 or even $10000.

BTCUSD Chart by Pranjal Sharma

ETH/USD – Bearish

A similar to Bitcoin fall was witnessed on ETH/USD market as well on Thursday. The indicators seem to be pointing towards a bearish divergence.

If the price falls below $230, we may see it going further down to $174.

However, if the support holds, and the momentum takes ETH to over $300, then $400 is not hard to hit.

ETHUSD chart by Pranjal Sharma

Cryptocurrency price is India is trading at various premium rates across multiple exchanges. Currently only a handful of exchanges offer INR based trading service, you can find the list here.

To get more insights into the price analysis, please watch our video below:

Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. Coin Crunch India does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.