Yesterday the market consolidated above the level of average prices. Will the bulls continue to recover today?
Yesterday morning, the bulls managed to break through the resistance of the 61.8% fibo level (47745.25 USD). During the day, the pair recovered to the POC indicator line, but the price had not yet had time to test the psychological level of 50,000.00 USD.
The daily high is marked at 49600.00 USD. Currently, the recovery has slowed significantly, and it is quite difficult for the bulls to break into the fifty thousand dollar zone.
If large buyers take part in the auction today, a breakthrough of this psychological resistance is possible. If today the strength of the bulls runs out and the breakout fails, the sellers will return the BTC price to the 61.8% fibo level (47745.25 USD).
ETH / USD
Yesterday, the Ethereum price tried to gain a foothold above the psychological level of 4000.00 USD and tested the Point Of Control line (4070.33 USD).
There was no strong bearish pressure yesterday, but sellers did not allow a breakout of the POC level (4070.33 USD).
Today buyers will try to take advantage of the support at USD 4000.00 and continue the recovery. However, if it fails to break above the Volume Profile indicator line, the bears will take the chance to return the pair below the two-hour EMA55.
Buyers were able to continue the XRP price recovery yesterday and the bulls managed to break through the 0.960 USD resistance this morning, setting a weekly high at 0.973 USD.
If the orange resistance fails to turn the pair into a pullback, then the pair will try to gain a foothold above 0.960 USD. In this case, a re-test of the psychological level of 1.00 USD is possible by the end of the week.
* All prices are based on BitStamp data
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