Price analysis 5/15: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC

Ether cost analysisEther (ETH) turned up from the 50% Fibonacci retracement level of $1,754 on May 12, and after a couple of days of debt consolidation, the bulls have pushed the rate to the 20-day EMA ($1,854). A break and close listed below this level could pull the cost down to the 61.8% Fibonacci retracement level of $1,663. BNB rate analysisThe bulls have actually pressed BNB (BNB) to the moving averages, suggesting that the $300 level is proving to be a strong support.BNB/ USDT day-to-day chart. Related: Why is Litecoin rate up today?Dogecoin cost analysisThe bulls have effectively safeguarded the $0.07 support level in Dogecoin (DOGE) for the previous few days, showing strong demand at lower levels.DOGE/ USDT everyday chart. The pair might then remain stuck in between the downtrend line and $19.85 for some more time.Polygon price analysisPolygon (MATIC) is attempting to begin a recovery that is most likely to reach the breakdown level of $0.94.

The financial obligation ceiling negotiations in the United States are keeping traders on the edge. JPMorgan Chase CEO Jamie Dimon told Bloomberg on May 11 that a possible sovereign default by the U.S. government might produce panic in the stock exchange, leading to heightened volatility.The next huge question troubling crypto financiers is how will Bitcoin respond to such an event. Bloombergs latest Markets Live Pulse survey shows that Bitcoin (BTC) might be the third-most preferred property class behind gold and U.S. Treasurys need to the U.S. government stop working to avoid a financial obligation default.Daily cryptocurrency market efficiency. Source: Coin360Billionaire fund manager Paul Tudor Jones informed CNBC that he is holding his Bitcoin and will constantly have some portion of his portfolio in it.What are the important assistance and resistance levels to watch for in the S&P 500 Index (SPX), Bitcoin and the major altcoins? Lets study the charts to find out.S&& P 500 Index cost analysisThe S&P 500 Index has actually been trading near the 20-day exponential moving average (EMA) at 4,118 for the past couple of days. This suggests a hard fight between the bulls and the bears for supremacy in the near term.SPX everyday chart. Source: TradingViewThe gradually rising 20-day EMA and the relative strength index (RSI) near the midpoint recommend range-bound action in the short-term. The index could swing between the overhead resistance of 4,200 and the 50-day simple moving average (SMA) of 4,059 for a couple of more days.A break and close listed below the 50-day SMA might pull the rate to the uptrend line. The index might nosedive to 3,800 if this support likewise provides way. On the benefit, the bulls will have to clear the difficulty at 4,200. The index might then rally to 4,325, where the bears will again posture a strong challenge. During the correction from this level, if buyers flip 4,200 into support, it will enhance the potential customers of a rally above 4,325. U.S. Dollar Index cost analysisAfter being not successful for a couple of days, the bulls finally handled to press and sustain the U.S. Dollar Index (DXY) above the 20-day EMA (101.88) on May 11. DXY daily chart. Source: TradingViewThe bulls continued their purchasing and cleared the overhead hurdle at the 50-day SMA (102.47) on May 12. The 20-day EMA has actually started to show up gradually, and the RSI has actually jumped into the positive zone, indicating that bulls have a slight edge. The index could increase to 103.50 in the short term, where it is once again likely to deal with selling from the bears.Conversely, if the cost refuses and slips listed below the 20-day EMA, it will recommend that the break above the 50-day SMA may have been a bull trap. The index could then retest the vital assistance at 100.82. A break and close below this level will complete a bearish head-and-shoulders (H&S) pattern, which might start a down transfer to 97.50. Bitcoin price analysisThe bulls are attempting to force Bitcoin back into the in proportion triangle pattern, recommending strong purchasing at lower levels.BTC/ USDT daily chart. Source: TradingViewThe relief rally is likely to deal with strong selling at the moving averages and again at the resistance line of the triangle. The bears will make another attempt to sink the BTC/USDT set to $25,250 if the price turns down from the overhead resistance. This is a crucial level to watch on because if it fractures, the selling could intensify, and the pair might plunge to $20,000. On the benefit, the bulls will need to surmount the resistance line to indicate the start of a brand-new up relocation. The pair may first increase to $31,000 and later on attempt a break above $32,400. Ether rate analysisEther (ETH) turned up from the 50% Fibonacci retracement level of $1,754 on May 12, and after a couple of days of consolidation, the bulls have pressed the rate to the 20-day EMA ($1,854). ETH/USDT day-to-day chart. Source: TradingViewThe bears will try to safeguard the support line with vigor and turn it into resistance. If they can pull it off, it will indicate that higher levels are attracting sellers. The ETH/USDT set could then retest the immediate support at $1,740. A break and close listed below this level might yank the rate down to the 61.8% Fibonacci retracement level of $1,663. They will have to drive the rate above the 50-day SMA ($1,883)if bulls want to prevent the decline. The set could then rally to the emotionally vital level of $2,000. BNB cost analysisThe bulls have actually pushed BNB (BNB) to the moving averages, indicating that the $300 level is proving to be a strong support.BNB/ USDT day-to-day chart. Source: TradingViewA break and close above the moving averages will clear the course for a potential rise to the overhead resistance at $338. This level might prove to be a strong barrier, however if bulls conquer it, the BNB/USDT set could rally to $350. If the price turns down from the moving averages, it will suggest that the bears have not offered up. They will then again try to pull the price listed below $300. The set might move to the next support at $280 if they do that. XRP price analysisXRP (XRP) has been trading listed below $0.43 for the past couple of days, but a minor favorable in favor of the bulls is that they have not permitted the bears to extend the decline further.XRP/ USDT day-to-day chart. Source: TradingViewThe bulls will try to make the most of the scenario and kick the rate above $0.43. That might stretch the healing to the resistance line, where the bears will once again try to protect the level. The bulls will need to conquer this challenge to start a rally to $0.48 and after that to $0.54. Another possibility is that the cost denies from the existing level and breaks listed below $0.40. That will signal the resumption of the down move. The XRP/USDT set may then topple to $0.36. Cardano price analysis Cardanos (ADA) recovery has actually reached the 20-day EMA ($0.37), which is an essential level to keep an eye on in the near term.ADA/ USDT daily chart. Source: TradingViewIf buyers shove the price above the 20-day EMA, it will suggest that the belief stays favorable and traders are purchasing on dips. The ADA/USDT set might then increase toward the neckline of the inverted H&S pattern.If the rate denies from the neck line, it will show that the set might oscillate between the neck line and the uptrend line for a few more days. A break and close below the uptrend line will show that bears have taken control. The set might then slump to $0.30. Related: Why is Litecoin rate up today?Dogecoin price analysisThe bulls have actually successfully protected the $0.07 assistance level in Dogecoin (DOGE) for the past couple of days, showing solid demand at lower levels.DOGE/ USDT everyday chart. Source: TradingViewThe relief rally is likely to deal with resistance near the moving averages. It will suggest that demand dries up at greater levels if the cost turns down from the overhead resistance. That will embolden the bears, who might then again try to sink the DOGE/USDT pair below $0.07. If they manage to do that, the set might slide to $0.06. They will have to push the price above the 50-day SMA ($0.08)if bulls want to avoid a fall listed below $0.07. The set could then rally to the $0.10 to $0.11 resistance zone.Solana rate analysisSolanas (SOL) rebound off the strong support at $19.85 is nearing the drop line. This is most likely to serve as a strong obstacle for the bulls in the near term.SOL/ USDT day-to-day chart. Source: TradingViewThe moving averages are flattening out, and the RSI is near the midpoint, suggesting that the selling pressure might be reducing. If buyers propel the price above the sag line, the SOL/USDT pair will try a rally to $24. Contrarily, if the rate once again declines from the drop line, it will recommend that the bears are in no state of mind to relent. The pair might then remain stuck between the drop line and $19.85 for some more time.Polygon price analysisPolygon (MATIC) is trying to start a healing that is likely to reach the breakdown level of $0.94. The bears are expected to install a strong defense at this level.MATIC/ USDT day-to-day chart. Source: TradingViewIf the rate denies from $0.94, it will recommend that the bears have flipped this level into resistance. They will then attempt to reinforce their position further by pulling the MATIC/USDT set below $0.81. It will open the doors for a possible decline to $0.69 if they succeed. Contrary to this presumption, if purchasers drive the rate above $0.94, it will signify strong purchasing at lower levels. The set might initially rise to the 50-day SMA ($1.03) and thereafter try a rally to the resistance line.This article does not contain investment advice or recommendations. Every financial investment and trading move includes risk, and readers ought to perform their own research when deciding.
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