Price analysis 5/11: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 5/11: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB


The crisis with Terra’s stablecoin TerraUSD (UST) and the freefall in Terra’s LUNA token has dented crypto sentiment further. Although Terraform Labs CEO Do Kwon announced a relief plan, the community does not seem too hopeful about the revival.

Another hindrance to a quick improvement in sentiment is that the United States Consumer Price Index soared 8.3% from a year ago, outpacing estimates by 0.2%. Although the numbers are a tad bit lower than March’s 8.5% print, the slow deceleration suggests no respite from more tightening by the U.S. Federal Reserve.

Daily cryptocurrency market performance. Source: Coin360

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Although the screen looks scary during capitulation, it also offers one of the best times to go against the herd and accumulate fundamentally strong cryptocurrencies at a bargain. Traders should not

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