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Yesterday’s attempt by the bulls to continue the recovery ended with a pullback to the average price area. Will buyers be able to create another bullish momentum today?
Yesterday in the morning, the bitcoin price tried to hold above the two-hour EMA55. The trades were held at small volumes and there was no obvious advantage from the bears.
However, in the evening, sellers managed to push the pair back below the average price level. At night, the decline stopped at the 61.8% fibo level (47745.25 USD).
If today this Fibonacci level works as a support, then buyers will be able to restore the pair above fifty thousand, and on the weekend they will continue to rise to the orange resistance of 53,400.00 USD.
ETH / USD
Yesterday in the morning, the Ethereum price set a daily high around 4117.00 USD. The weak growth was not supported by large volumes, and before the end of the day the pair returned to the psychological support of 4000.00 USD.
Tonight, this level could not hold yet another bearish impulse, and the ether price rolled back to the two-hour EMA55.
In the morning, sellers pierced the moving average, but the bulls are trying to hold above the average price level. If successful, the recovery will continue towards the green resistance at 4300.00 USD.
Yesterday the XRP price held above the average price level, but in the evening sellers managed to break through the support of the two-hour EMA55 and push the pair close to the 0.800 USD level.
The pair has recovered slightly this morning and now buyers are working to overcome the resistance of the EMA55 moving average. A confident break above this level will provide a recovery of the pair to the resistance area of USD 0.960.
* All prices are based on BitStamp data
#Analysis #prices #Bitcoin #Ethereum #XRP