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Will the bulls manage to bring the market back above the average price level?
BTC/USD
Yesterday, buyers tried to restore the bitcoin price above the 2-hour EMA55. They managed to pierce the moving average, but sellers brought the pair back to the support area of 46000.00 USD with a strong bearish impulse until the end of the day.
This morning, there is another attempt by the bulls to gain a foothold above the level of the two-hour moving average EMA55. If it ends with a pullback again, then the bears may increase pressure and push the pair back to the 44000.00 USD area.
ETH / USD
Yesterday, buyers managed to recover Ethereum price above the 2-hour EMA55. In the evening, the pair came close to the level of 3900.00 USD, but the bearish reaction did not allow the price of ether to test this level.
By the end of the day, the ETH / USD pair was pushed back into the average price area, but the EMA55 moving average was able to keep the pair from a deep pullback.
If buyers were able to gain a foothold above the two-hour EMA55 level today, the negative scenario could have been avoided.
XRP/USD
There was no bearish pressure yesterday morning and the XRP price tried to recover to the EMA55 moving average area. It was not possible to overcome the level of average prices. Sellers responded with bearish impulse, which brought the pair back below the POC line (0.828 USD).
At night, the sales volumes decreased and the pair stabilized at the Point Of Control indicator line. If the bearish onslaught resumes today, the pair will roll back below the support of 0.800 USD.
All prices are based on BitStamp data
#Analysis #prices #Bitcoin #Ethereum #XRP
