Ripple, Bitcoin & Shiba – American Wrap 24 May

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XRP price distinguished itself as one of the high-flying cryptocurrencies in April as positive momentum began to build around the SEC case, but the crash in May has erased the April spike higher. Ripple faces several technical challenges that encourage a neutral outlook with a slight bearish tilt.

Bitcoin price looks primed to rebound after a 50% sell-off

Bitcoin price looks prime to surge by roughly 40% after bouncing off the $29,936 support level.The daily chart shows that BTC is forming a potential reversal pattern known as head-and-shoulders. The bearish setup contains a central peak referred to as the head, while the other two comparable upswings are known as shoulders. Meanwhile, the horizontal support at $29,936 is known as the neckline. 

Shiba Inu Price Forecast: SHIB gets closer to a 50% rebound

The Shiba Inu price has fallen 85% from the May 10 high of $0.00003999 to the May 19 low of $0.00000607. The dog-themed token is now defining a symmetrical triangle pattern on the four-chart that is near completion. Over 75% of symmetrical triangle patterns are continuation patterns, so probabilities dictate that SHIB should resolve the pattern to the downside shortly.

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