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Last night, strong bearish momentum pushed prices back to the nearest support levels.
Yesterday morning, buyers tried to pull the bitcoin price back into the 2-hour EMA55 area, but the buying volumes were too small for the price to break above this moving average.
In the evening, in the area of average prices, bearish pressure quickly increased, and by the end of the day, the BTC price rolled back below 44000.00 USD, and at night the pair tested the 50% fibo level (42447.61 USD).
Since the end of last year, the support of 46000.00 USD kept the market from a negative scenario, but the bears achieved another decline in prices. The capitalization of the entire market has rolled back to the psychological threshold of $ 2.0 trillion.
The bearish pressure will ease today. The Bitcoin price will be able to consolidate around the fifty percent Fibonacci level (42447.61 USD).
ETH / USD
Yesterday in the morning, the Ethereum price tried to hold above the two-hour EMA55. Before lunchtime, the moving average EMA55 coped with support, but in the evening the sales volumes increased sharply and the bears broke through the level of average prices.
At night, the price of ether fell to the green support of 3400.00 USD, setting a minimum around 3410.00 USD. Despite the small rebound, we believe that today the pair will test the level of 3400.00 USD and slow down the decline in a sideways range with the lower border in the form of green support.
Yesterday, the XRP / USD pair could not hold in a tight consolidation on the POC line and rolled back below the support of 0.800 USD. Tonight, the pair came close to the orange support of 0.700 USD, but when the sales volumes decreased, the XRP price bounced back to the 0.770 USD mark.
The decline will stop this morning after the retest of the 0.700 USD level. Bearish pressure will ease and Ripple price is consolidating in a short-term sideways range.
* All prices are based on BitStamp data
#Analysis #prices #Bitcoin #Ethereum #XRP