Analysis of cryptocurrencies BTC, ETH, XRP for May 3, 2021



Last Saturday, cryptocurrency Bitcoin consolidated in a narrow sideways corridor, taking advantage of weak support at the level of 57000.00 USD. On Sunday, sellers tried to push the price even lower, but the bears were not able to test the mark of 56000.00 USD.  This morning, the pair BTC/USD returned to the previous level of 58000.00 USD, and at the beginning of this week, Bitcoin may continue to recover to the psychological mark of 60000.00 USD.  




At the end of last week, the price of cryptocurrency Ethereum was fixed at the top of the ascending channel, and at the beginning of this week, the bulls continued their run to the psychological mark of 3000.00 USD. This morning, the price of ETH tested the upper trend line and set an absolute maximum around the level of 3087.00 USD. The growth takes place on declining volumes, so in the near future a pullback to the middle line of the ascending channel is possible, which has repeatedly stopped the weak efforts of the bears to roll back the price to the area of average prices.  




At the end of last week, cryptocurrency XRP was stuck in a sideways range with support at 1.540 USD. Last night, buyers had a weak attempt to break out of the side corridor, but the growth was not supported by large volumes and the pair returned to the support of 1.540 USD.  At the beginning of this week, attempts to test the resistance of 1.700 USD may be repeated, but soon the pair will roll back below the support of 1.500 USD.

Trader Avatar Solomon


View forecasts for Ethereum/USD, Bitcoin/USD, XRP/USD

Other blogs by this trader

XRP soared to $1.75 on the news
Cryptocurrency XRP surged to three-week highs near $1.75 on Thursday amid an ongoing altcoin rally.In addition, it became known that a former high-ranking official of the US government was appointed to the board of directors of Ripple.Former US Treasurer Rosa Rios has joined Ripple's board of directors. The company also appointed a new financial director (CFO) — the former head of PlayNearMe and Green Dot Christina Campbell.Rios has 30 years of experience in public policy and investment management. In 2009-2016, she served as the Chief Treasurer of the United States under the presidency of Barack Obama."Ripple is one of the best examples of how to legally use cryptocurrency to significantly facilitate payments around the world," Rios said.Campbell previously worked as the CFO of the payment company PayNearMe and held several positions at the California-based fintech company GreenDot.At Ripple (XRP), Campbell will focus on the company's financial strategy, try to accelerate its growth and add value to shareholders.Recall, Ripple's trial with the US Securities and Exchange Commission (SEC) continues. On May 4, the SEC filed a motion against the participation of XRP token holders in the proceedings with Ripple.According to the regulator, the intervention of a third party will delay the trial and require additional resources. Earlier, foreign regulators refused to help the SEC in the case against Ripple.From other news. The Phemex crypto exchange re-launches the XRP token. This re-listing may be the first of many, as marketplaces gain more confidence that Ripple can win in court against the SEC.
06.05.2021 Avatar Solomon Read
Bitcoin: Millions of Americans will soon have access to BTC purchases
Bitcoin is stuck in a sideways range, while many altcoins are showing outperforming growth.Meanwhile, hundreds of American banks will soon offer their customers access to the first cryptocurrency.In recent weeks, the cryptocurrency Bitcoin has been stuck in the range of $48-58 thousand, although it has doubled in price since the beginning of the year.Currently, the first cryptocurrency looks less attractive for investment compared to its main competitors due to its significant overbought status. The high concentration of long positions in the futures market is holding back the growth of Bitcoin.In addition, purchases of less-capitalized altcoins put pressure on the BTC rate. The very season of altcoins and the fall in the share of Bitcoin in the crypto market is an important signal that the bulls are not yet ready for new records, experts say. However, the long-term outlook for Bitcoin looks positive.Meanwhile, hundreds of US banks are preparing to provide customers with access to Bitcoin. Over the coming months, customers of some US banks will be able to buy, sell and store Bitcoin using existing accounts. Basically, these will be small banks with several branches.To do this, the crypto-custodial firm NYDIG (New York Digital Investment Group) has entered into cooperation with the fintech giant Fidelity National Information Services (FIS).FIS, which is a service provider for banks with almost 300 million current accounts, will handle connections with financial institutions, while NYDIG will provide storage and trading of cryptocurrency."This will make it easier for ordinary Americans and corporations to buy, sell, and store cryptocurrency through their mobile apps," said Patrick Sells, head of banking solutions at NYDIG.Yang Zhao, president of NYDIG, said that banks themselves began to be interested in Bitcoin after they saw that their customers were sending money to Coinbase and other exchanges.In its own survey, NYDIG found that more people would be willing to hold Bitcoin if they could buy it in a bank without having to register on third-party platforms and transfer money to them.In recent months, plans to launch Bitcoin-related products have been reported by major financial corporations such as Morgan Stanley, Goldman Sachs, and JPMorgan. But then it was about decisions on access to cryptocurrency for large players, and not for retail investors.
06.05.2021 Avatar Solomon Read
The founder of ETH became the youngest cryptocurrency billionaire
Vitalik Buterin is one of the founders of the popular cryptocurrency Ethereum (ETH). According to Forbes, at the age of 27, he became the youngest cryptocurrency billionaire. The day before, the price of Ethereum rose above the level of $3,000. Buterin has 333520 tokens in his cryptocurrency wallet. Their value reached 1 billion 90 million dollars. Since January 2020, Buterin's condition has increased 25-fold. The market capitalization of Ethereum reached $389 billion, which allows this altcoin to take the 2-nd place after Bitcoin, whose capitalization exceeded $1 trillion. Over the year, the capitalization of Ethereum increased by 325%. Ethereum is becoming more expensive due to the growing popularity of applications that can replace banks, as well as insurance companies. On Monday, it became known that the cryptocurrency market managed to send Apple Corporation to the second place in terms of capitalization. The figure reached $2.3 trillion. At the same time, the capitalization of the American company amounted to $2.1 trillion.
04.05.2021 Avatar Solomon Read
Altcoins that can show explosive growth
The parabolic growth in the last days of the ETH/BTC pair proves the beginning of the altcoin season, experts say.Along with Ethereum (ETH), other altcoins are growing, including Dogecoin (DOGE).Well-known analyst and crypto trader Mikael van de Poppe drew attention to the altcoin market, noting that in the coming weeks their profitability will significantly exceed the results of Bitcoin.For example, Van de Poppe mentions the distributed web protocol Holochain (HOT), which in early April reached a historic high of $0.031. The second rally will occur during the next wave of the altcoin season, probably around mid-June, the expert believes.Two other assets with significant growth potential are the Swipe smart wallet token (SXP) and the Teller Oracle project (TRB).Crypto trader and analyst Tyler Swope notes two promising new altcoins that could benefit from the clean energy fashion. He invested in Ocean Protocol (OCEAN) and NuCypher (NU), which are indirectly related to Elon Musk's $100 million initiative to remove greenhouse gases.The four-year global initiative is supported by XPRIZE. The OCEAN project ranks 134th in the ranking by market capitalization and has repeatedly collaborated with XPRIZE in the past.The privacy-focused NuCypher (NU) protocol, ranked 275th in the ranking, was created thanks to the Creative Destruction Labs development program. Creative Destruction Labs, a nonprofit organization, has partnered with XPRIZE to implement Musk's initiative.Analyst Il Capo distinguishes Syntropy (NOIA), Binance Coin (BNB), Band Protocol (BAND), Balancer (BAL), Litentry (LIT), Zilliqa (ZIL), TomoChain (TOMO) and Hedera Hashgraph (HBAR) from altcoins.The unusual growth of Dogecoin (DOGE) also received a reasonable explanation, cryptoonliner writes. Billionaire investor Mark Cuban notes that this is one of the few cryptocurrencies that are used directly for transactions, and not through services such as BitPay. Dogecoin is indeed accepted by some sports clubs and other businesses that rely on community coins.
04.05.2021 Avatar Solomon Read
Time to buy Bitcoin or not?
Bitcoin fell below $48,000 last Friday, losing a quarter of its value in just nine days.A number of negative news contributed to the decline in BTC. President Biden plans to raise the capital gains tax on the rich. A negative background could also be created by fraud on the Thodex crypto exchange, which was accompanied by the escape of the head of the company and the suspension of trading. The hype around the placement of shares of the Coinbase crypto exchange on the Nasdaq has also ended.In addition, not so long ago, some major players created new exchange-traded investment funds (ETFs), which, as a rule, earn on the fall of the bitcoin exchange rate. For example, Morgan Stanley has launched two new funds for the main cryptocurrency.Bitcoin last week fell below the 50-day moving average (MA) and is trying to stay above the 100-day MA, which is now passing around $50,000. The loss of such an important line as the 100D-MA may promise a deeper correction.Experts warn of a possible decline in the value of Bitcoin in the event of negative news or consolidation of its rate below $50,000. In the worst case scenario, BTC may fall to $15-18 thousand.If Bitcoin continues to fall and breaks the support level around $42,500, the quotes may fall to $30,000.
26.04.2021 Avatar Solomon Read
The price of Oil continues to decline
On Thursday morning, the oil market prices continue to decline. Brent crude oil fell to 65.2 US Dollars per barrel, or 0.46%. The price of WTI crude oil fell to $61.6 per barrel, or 0.47%. The drop in prices on the oil market has been observed over the past three days. During this period, oil fell by more than 3%. Investors remain concerned about the deterioration of the epidemiological situation in some countries of the world. First of all, the concern is the growing number of infections in India, as well as in Japan. This may lead to the introduction of additional restrictions, which will negatively affect the economies of these countries. Japan and India are among the largest oil consumers. Pressure on oil prices was also exerted by data on oil reserves in the United States, which were published the day before. Experts believed that the agency would announce a reduction of 2 million 900 thousand barrels. At the same time, the ministry reported an increase in reserves by 600 thousand barrels.
22.04.2021 Avatar Solomon Read
ARK Innovation bought 749,205 shares of Coinbase
ARK Innovation ETF spent $246 million to buy Coinbase 749,205 shares of Coinbase The purchase was split into three ETFs.ARK sold tens of thousands of shares of Tesla and the Intercontinental Exchange on Wednesday.It is noted that 749,205 shares of COIN purchased are divided into three funds: ARK Innovation ET, ARC Intech Innovation ETF and ARK Next Generation Internet ETF. At the close of trading, the value of one COIN share is $328.28 (-19% from the opening).
15.04.2021 Avatar Solomon Read
Bitcoin Falls After Coinbase Listing on Nasdaq
Bitcoin (BTC) fell in price on Wednesday after setting a new historical high of about $64.8 thousand at the beginning of the day.The sharp decline occurred after the procedure for listing shares of the Coinbase crypto exchange on the Nasdaq began.BTC lost more than $3 thousand at the moment, falling below $61.5 thousand on Wednesday evening. Bitcoin, 1H chart Shares of the cryptocurrency exchange Coinbase (COIN) officially began trading on the Nasdaq trading platform at a starting price of $380 and quickly rose to a high of $429.45.However, then there was a decline and the auction closed at $328.28 (-13.9% of the opening). The minimum price during the first trading session was $310. The capitalization sank to the area of $85.7 billion.Coinbase entered the stock market through a direct listing, thus abandoning the option of raising additional capital through an initial public offering (IPO).Although in the past, shares of other companies associated with the cryptocurrency space were already available for trading on the stock market, the Coinbase listing attracted the most attention from investors and the media in its category.Rumors of Coinbase's likely plans to go public had been circulating for at least a few months prior. About Coinbase Coinbase previously distributed 100 shares to each of its 1,700 employees. In accordance with the reference price of the asset of $250, each of the employees of the trading platform received securities worth $25 thousand.Coinbase was founded in 2012. About 50 cryptocurrencies are represented on the exchange. The platform has 56 million users. In April, the company reported preliminary results for the first quarter of 2021: revenue increased nine-fold year-on — year to $1.8 billion, and net income increased to $730-800 million from $32 million a year earlier.
15.04.2021 Avatar Solomon Read
Message sent successfully.
We will contact you soon!
E-mail Terms and Conditions of use
Password Terms and Conditions of use
Log in via
Name* Terms and Conditions of use
Email* Terms and Conditions of use
Password* Terms and Conditions of use
Confirm password* Terms and Conditions of use
Password must be at least 8 characters long and contain numbers, upper and lower case letters
Log in via
Your account is not yet active.
Verify your email.
If you do not have the email in your Inbox, please check the Spam folder or log in using
{{message}} {{error}}
Send password reset code to:
Email* Terms and Conditions of use
Phone number*(format: +79871234567) Terms and Conditions of use
A password reset link has been sent
to the specified email.
If you do not have the email in your Inbox, then check the Spam folder
{{message}} {{error}}
Sent to the specified number
password reset code.
Enter the code in the field below:
Code* Terms and Conditions of use
Password* Terms and Conditions of use
Confirm password* Terms and Conditions of use
{{message}} {{error}}
Sign up as an trader
Nickname* Terms and Conditions of use
Surname* Terms and Conditions of use
Name* Terms and Conditions of use
Middle name
Phone number
Email* Terms and Conditions of use
Password* Terms and Conditions of useо
Confirm password* Terms and Conditions of use
Convenient way of communication
Date of Birth
Since 2019
  • Since 2019 .
  • Since 2018 .
  • Since 2017 .
  • Since 2016 .
  • Since 2015 .
  • Since 2014 .
  • Since 2013 .
  • Since 2012 .
  • Since 2011 .
  • Since 2010 .
  • Since 2009 .
  • Since 2008 .
  • Since 2007 .
  • Since 2006 .
  • Since 2005 .
  • Since 2004 .
  • Since 2003 .
  • Since 2002 .
  • Since 2001 .
  • Since 2000 .
  • Since 1999 .
  • Since 1998 .
  • Since 1997 .
  • Since 1996 .
  • Since 1995 .
  • Since 1994 .
  • Since 1993 .
  • Since 1992 .
  • Since 1991 .
  • Since 1990 .
  • Since 1989 .
  • Since 1988 .
  • Since 1987 .
  • Since 1986 .
  • Since 1985 .
  • Since 1984 .
  • Since 1983 .
  • Since 1982 .
  • Since 1981 .
  • Since 1980 .
  • Since 1979 .
  • Since 1978 .
  • Since 1977 .
  • Since 1976 .
  • Since 1975 .
  • Since 1974 .
  • Since 1973 .
  • Since 1972 .
  • Since 1971 .
  • Since 1970 .
Information is not available to other users
{{messages.message}} {{messages.error}}
Your account is not yet active.
Verify your email.
If you do not have the email in your Inbox, please check the Spam folder or log in using
{{messages.message}} {{messages.error}}