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The market recovered above the two-hour EMA55 yesterday. Today the bulls will try to continue their recovery.
Yesterday morning, bitcoin price consolidated in a narrow sideways range right at the 2-hour EMA55.
In the evening, there was a decline in the pair to the area of 46500.00 USD, in which buyers managed to form a bullish momentum, sufficient to break the moving average EMA55. At night, a local maximum was recorded around the level of 49500.00 USD.
Until the morning, the growth has stopped and the BTC price is again consolidating in a very narrow sideways range. If another bullish surge to the 52000.00 USD area follows today, then such a positive scenario could lead to a recovery in the pair above the orange resistance of 53400.00 USD.
ETH / USD
Ether trading volumes were very low yesterday morning. In the afternoon, the bears increased their sales and rolled back the ETH price to the area around the 3640.00 USD mark.
Such a decline caused demand from large buyers, and even before the end of the day, they managed to restore the price above the two-hour EMA55. The local maximum is indicated in the area of 4100.00 USD.
Growth has stopped until this morning. If today the price gets support at the psychological level of 4000.00 USD, then growth may continue to the resistance area of 4300.00 USD.
Yesterday’s bearish pressure weakened around 0.777 USD. In the evening, buyers were able to quickly restore the pair above the level of average prices and at the end of the day mark a local maximum at 0.840 USD.
The XRP price consolidated in a narrow sideways overnight, and today the pair may continue to rise if it gets support from the two-hour moving average EMA55. In this case, by the end of this week, the Ripple price may recover above the resistance of 0.960 USD.
* All prices are based on BitStamp data
#Analysis #prices #Bitcoin #Ethereum #XRP