Cryptocurrency

GMT, PancakeSwap, XRP Price Analysis: 03 May

XRP appeared to type a low timeframe vary, whereas STEPN noticed a powerful bounce from an space of demand. However, the subsequent day or two could be essential for the crypto market as Bitcoin appeared to face at a vital juncture. PancakeSwap had a bearish leaning, however this might change if demand arrives following a shift in sentiment towards bullish.

STEPN (GMT)

Source: GMT/USDT on TradingView

On the decrease timeframes, STEPN seems to have a bearish bias to it. As the weekend approached, GMT appeared to succeed in a neighborhood prime at $4 and pulled again round 20% to succeed in the $3.15 mark. The earlier day’s buying and selling noticed GMT bounce from this space of demand.

The A/R line was additionally in a downtrend, however not steep sufficient to wipe out all of the shopping for of the previous two weeks. This recommended that though the pullback was deep, GMT may rise as soon as extra supplied it may well discover demand on the $3.1 space.

The Awesome Oscillator confirmed a downtrend in progress because it continued to remain beneath the zero line, though the inexperienced bars of the previous few hours indicated a minor bounce towards the $3.4 mark.

PancakeSwap (CAKE)

STEPN, PancakeSwap, XRP Price Analysis: 03 May

Source: CAKE/USDT on TradingView

PancakeSwap has an space of demand (cyan field) within the neighborhood of $7.6. However, it has closed a session beneath this space and at press time appeared to retest it as a provide zone. Was the dip simply an impact of a risky Bitcoin, or has this zone been flipped from demand to provide?

The RSI on the 4-hour chart was beneath the impartial 50 line and, though momentum was impartial, it hinted at a bearish pattern. No divergence was noticed but. Meanwhile, the OBV has been setting decrease highs for the reason that starting of April.

Therefore, additional lows could be anticipated as a result of lack of demand.

XRP

STEPN, PancakeSwap, XRP Price Analysis: 03 May

Source: XRP/USDT on TradingView

Over the previous few days, XRP has traded inside a spread from $0.58 to $0.63. In current hours, XRP noticed a rejection on the vary highs which meant that the value is probably going headed again to the vary lows.

The RSI on the hourly chart was at 53, to point out momentum was solely barely in favor of the bulls. On the opposite hand, the CVD appeared to drop again beneath the zero line to indicate an increase in promoting strain. Similarly, the CMF continued to say beneath -0.05 to point that the sellers had the higher hand out there.

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