Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, IOTA, EOS: Price Analysis, May 16

68 level holds, the BTC/USD pair might enter a period of consolidation between $7,941-$10,000.

The small neckline of a possible head and shoulders pattern is providing a strong support level.

If the bears succeed in breaking and closing below the neckline, the bearish pattern will complete, giving it a target of $418.However, we believe that $600, which is the 50 percent Fibonacci retracement level and the 50-day SMA will act as strong support on the downside.

The levels to watch out for on the downside are the horizontal support at $1221 and the 50-day SMA. We anticipate a bounce from either of these two levels.

XRP/USDRipple could not scale above the $0.76 levels on May 14, resulting in a slide below the 50-day SMA. The next support on the downside is the May 12 lows of $0.632.

If the XRP/USD pair manages to stay above the $0.63 levels, the bulls will again try to break out of the overhead resistance at $0.76.The 20-day EMA is turning down while the 50-day SMA is flattening out.

XLM/USDStellar turned down from the 20-day EMA as higher levels lacked buyers.

We shall look for buying opportunities above $0.373 levels.

We shall change our view if the bulls manage to hold the May 12 lows and break out of $170.ADA/BTCCardano is unable to find buyers at a higher level.

The digital currency will pick up momentum after scaling 0.00003445 levels.