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Bitcoin price failed to gain a foothold above the average price level. The decline may continue towards the support of 46000.00 USD.
Yesterday morning, it seemed that the 61.8% fib (47745.25 USD) level would withstand the bearish onslaught, and the BTC / USD pair could recover above average prices. However, the 2-hour moving average EMA55 limited the pair’s recovery around the 50,000.00 USD mark and pushed Bitcoin back to support at the 61.8% Fibonacci level.
At night, sellers pushed the BTC price back to the weekly low of 46790.00 USD. As of this morning, the recovery is taking place without the support of large buyers. Our forecast regarding the re-test of the support of 46000.00 USD remains, as before, in force.
ETH / USD
Yesterday in the morning, the Ethereum price was actively recovering its lost positions and tried to return to the two-hour EMA55.
During the day, in the area of average prices, the growth slowed down, and a rather strong bearish impulse broke through the psychological support of 4000.00 USD. The weekly low was fixed at 3830.00 USD.
The price has bounced above four thousand this morning, but buying volumes are low. If buyers are unable to increase volumes, then it will not be possible to gain a foothold above the level of average prices and the price will roll back to the support of 3800.00 USD.
The XRP price held in a tight consolidation around the 2-hour EMA55 yesterday morning. Sellers were able to push through the level of average prices. During the day, buyers tried to seize the initiative, but by the end of the day, the Ripple price rolled back to the support of 0.800 USD.
The price pierced the blue support tonight and recovered from the low of 0.784 USD to the area of 0.830 USD. If buyers are unable to keep the pair above 0.800 USD, then on the weekend the decline may continue to the orange support area of 0.700 USD.
* All prices are based on BitStamp data
#Analysis #prices #Bitcoin #Ethereum #XRP