The new high of the Bitcoin price did not inspire market participants for a strong bullish momentum. What awaits us at the end this week?
BTC / USD
Yesterday morning bitcoin price startedgrow and was able to overcome the resistance of the 78.6% fibo level (55288.19 USD). At the same time, the October maximum was updated to the level of 56168.00 USD, however, the growth was not supported by large volumes, and did not continue.
In the afternoon, the pair returned below the levelFibonacci 78.6% within the sideways channel, the lower border of which is the orange support at 53400.00 USD. The trading volumes decreased tonight and the pair is being held in a narrow consolidation around the 54000.00 USD mark.
Stoch indicator lines on the daily time frameRSI is about to leave the overbought zone, forming a signal for a decline. If this weekend the bulls still manage to form a powerful bullish momentum, then the price of BTC will test the resistance of 58000.00 USD.
It should be borne in mind that further weakening of the bulls' onslaught will lead to the dominance of sellers in the market and a pullback below the support of 53400.00 USD.
ETH / USD
Yesterday's daily high of cryptocurrencythe flagship did not particularly inspire Ethereum buyers to take action. In the first half of the day, the ether price approached the level of 3675.00 USD, but was unable to continue its growth.
After lunch, the pair rolled back to the 3600 level.00 USD, and in the evening the pullback continued below 3550.00 USD. At the moment, the pair is consolidating in this area, waiting for signals from major market participants.
If the whales do not continue buying BTC over the coming weekend, then the price of ETH will very quickly drop below the support of 3400.00 USD.
XRP / USD
Yesterday the market did not live up to positive expectationsbuyers. There were no major purchases, and after lunch, trading volumes fell below average, and XRP price smoothly rolled back to the four-hour moving average EMA55. This level of average prices keeps the pair from falling for now.
If at the end of this week the bearish pressure increases, then the price of Ripple will roll back below the psychological level of 1.00 USD.
* All prices are based on BitStamp data
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