Reading time: ~ 2 m
An unsuccessful attempt by buyers to break above the average price level ended with a decrease in the price of BTC to the nearest support of 46000.00 USD.
BTC/USD
Yesterday morning, buyers made another attempt to break through the resistance of the two-hour moving average EMA55. However, buying volumes were too small to break through the bearish defenses at the average price level.
In the afternoon, sellers intensified the onslaught and rolled back the bitcoin price below the 61.8% fibo level (47745.25 USD). By the end of the day, our negative scenario, which we talked about last Thursday, worked out: the BTC price tested the support of 46000.00 USD.
As of this morning, the pair is holding above the blue support of 46000.00 USD, but the recovery is taking place at very low volumes. We believe that in the near future we will see a decline to the fifty percent Fibonacci level (42447.61 USD).
ETH / USD
Yesterday in the morning, buyers desperately tried to hold onto psychological support at the level of 4000.00 USD, but in the afternoon the bears were able to form a fairly strong impulse, as a result of which the Ethereum price rolled back to the support area of 3800.00 USD.
At the end of the day, sellers marked a local minimum around the level of 3670.00 USD, but overnight buyers returned the pair to the level of 3800.00 USD.
Today, this blue level can work out as resistance and the ether price will continue to decline to the area of 3600.00 USD, and in the second half of this week it will test the support of 3400.00 USD.
XRP/USD
Yesterday morning, XRP price was unable to overcome the resistance of the two-hour EMA55 and rolled back below the support of 0.800 USD. The daily low is set at 0.761 USD.
The pair tried to recover tonight, but cannot return above the blue level of 0.800 USD. If bearish pressure intensifies today, the pair will roll back to the orange support of 0.700 USD.
* All prices are based on BitStamp data
#Analysis #prices #Bitcoin #Ethereum #XRP
