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Today, buyers will try to restore prices to yesterday’s resistance levels.
Yesterday, during the day, buyers tried for a long time to break through the resistance in the area of 44000.00 USD. In the evening, a weak bullish momentum was able to break through this level, but the bears responded with large sales volumes, and by the end of the day, the price of bitcoin rolled back below the two-hour EMA55.
The 50% fibonacci level (42447.61 USD) was able to keep the pair from a deep rollback. Until this morning, the couple was in a rather narrow side corridor.
If today the buyers can return to the resistance of 44000.00 USD, then by the end of the week the bulls will continue their attempts to grow to the target level of 46000.00 USD.
If the bears break through the support of 50% fibo (42447.61 USD), then the rollback will continue to the level of 41700.00 USD.
ETH / USD
Yesterday the buyers tried to overcome the resistance of 3400.00 USD. However, after the price of ether broke through this green level, the bears increased their pressure and pushed the price back below the two-hour EMA55. The local minimum is visible in the area of 3224.00 USD.
Over the past night, the pair pulled up to the area of the moving average EMA55. If buyers are able to return the price of ETH to the area of yesterday’s resistance of 3400.00 USD, then until the weekend there will be a possibility of a breakout to the level of 3800.00 USD.
Otherwise, if bearish sentiment dominates the market, sellers will push through the support of 3200.00 USD, and the price will roll back to the 3100.00 USD mark.
Yesterday, the price of XRP tried several times to break through the resistance of 0.800 USD, but all attempts were unsuccessful and by the end of the day the pair rolled back below the average price level. At night, the minimum point was marked – 0.761 USD.
This morning the pair has slowly recovered to the two-hour EMA55. We believe that after a short-term narrow consolidation, the bulls will try to return the price to the resistance of 0.800 USD.
*All price values are based on BitStamp exchange data
#Bitcoin #Ethereum #XRP #price #analysis