Yesterday, the rapid decline in prices stopped and the market stabilized in a sideways range.
BTC / USD
Yesterday, sales volumes were still above average, but sellers were unable to roll back the price below the weekly low, which was fixed on Thursday near the 78.6% Fibonacci level.
By the end of the day, trading volumes decreased, andthe pair has stabilized around 16900.00 USD. This week, the price of Bitcoin has fallen by more than 16%, and the capitalization of the cryptocurrency flagship has decreased by $ 37 billion.
At the moment, the pair is still tradingbelow average prices. Buyers tried to continue the recovery, but the resistance of the hourly EMA55 has not yet been tested. If the bulls find support around the 17000.00 USD mark, the price may recover to the resistance of 17600.00 USD.
We believe that on the weekend the activity of market participants will be low and the price will move, mainly in a sideways direction, trying to consolidate in the area of the moving average EMA55.
ETH / USD
Yesterday, the lower border of the green upwardcorridor held back the onslaught of sellers. In the evening, the bears managed to pierce the support of the green trendline, but before the end of the day, the ether price recovered into an upward channel.
If on the weekend the bears push the support of the trend line, then the pair will roll back to the area of 450.00 USD, and if the volume of purchases starts to grow, then recovery is possible to the area of 550.00 USD.
XRP / USD
Yesterday, the psychological level of 0.500 USD limited the onslaught of sellers and the price of Ripple recovered to the area of average prices by the end of the day.
The trading volume decreased tonight and the priceconsolidated in a narrow sideways corridor around the hourly moving average EMA55. If buyers start to increase volumes, the recovery will continue to the level of 0.600 USD.
* All price values are based on data from the BitStamp exchange
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