Cryptocurrency News
Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
2022.05.23 22:46
Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
The United States equity markets are attempting a recovery after weeks of relentless selling. Along similar lines, on-chain monitoring resource Material Indicators expects the crypto market to recover, but they anticipate Bitcoin (BTC) to spend some time in a range before “a real breakout.”
The seven-day moving average of the on-chain transaction volume tracked by Glassnode hit a nine-month low on May 23. This suggests that Bitcoin’s lackluster price action in 2022 has led to reduced participation from traders.
XRP/USDT daily chart. Source: TradingView
