Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB – Mail Bonus

US stock markets are trying to recover after weeks of non-stop sales. On a similar note, indicators for controlling the chain’s resources expect the cryptocurrency market to recover, but they expect Bitcoin (BTC) to spend time in the range before the “real breach.”

The seven-day moving average trading volume on a chain that Glassnode monitors reached a nine-month low on May 23rd. This suggests that the weak Bitcoin price level in 2022 has led to lower merchant participation.

Daily performance of the cryptocurrency market. Source: Coin 360

Although signs of short-term recovery are visible, sustained recovery could be difficult because macroeconomic conditions remain challenging. Kristalina Georgieva, managing director of the International Monetary Fund, wrote in a blog post that the global economy is witnessing “its biggest test since the Second World War”.

Could Bitcoin and altcoins immediately overcome their resistance levels and start a lightweight tournament? Let’s look at the charts of the top 10 cryptocurrencies to find out.