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XRP is back in the December highs today, while Bitcoin and Ethereum are holding in the mid-range.
Trading volumes were below average yesterday and buyers were unable to continue the recovery in the BTC price. In the afternoon, sellers had a slight advantage in the market, thanks to which they managed to push the BTC / USD pair back to the average price area. As of this morning, the bitcoin price tested the 2-hour EMA55, which halted the pullback.
On the daily time frame, the Stoch RSI indicator lines are in the overbought zone. Perhaps, after the psychological level of 50,000.00 USD is re-established, the price will begin to decline and by the end of the week the Stoch RSI indicator will return to the neutral zone. The first strong support level in such a decline may be the 50% Fibonacci level (42447.61 USD).
ETH / USD
Yesterday, buyers failed to overcome the POC indicator line (4070.33 USD). The dominance of sellers in the market led to a rollback of the Ethereum price below the psychological mark of 4000.00 USD.
In the afternoon, the decline stopped at the two-hour EMA55. The bears pierced this moving average tonight. At the moment, there is not enough confidence that during the day this weak support will cope with the onslaught of sellers.
If the level of average prices is still able to keep the pair from further decline, then in this case, we can count on a recovery to the area of 4200.00 USD.
Yesterday in the morning sellers pushed the XRP price below the orange level of 0.960 USD, but in the evening buyers seized the initiative and gradually returned the pair to the area of the weekly high.
This morning the Ripple price tested the psychological level of 1.00 USD. We believe that today we are expecting a short-term consolidation in a narrow sideways range between the orange support of 0.960 USD and the green resistance of 1.00 USD.
* All prices are based on BitStamp data
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