Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11/05/2019

Yesterday, prices recovered within the lateral range. Can buyers today continue to grow?

BTC / USD

Yesterday morning the sellers were once again unable topush the BTC price below the POC line (9114.68 USD) and the pair continued to move sideways. On small volumes, the price recovered above the hourly EMA55. 

At night, buyers managed to increase volumes and the price pierced the level of 38.2% Fibo (9441.98 USD), but the pair could not leave the upper limit of the lateral range.

Customers can try again todaybreak out of the sideways trend, but we believe that until the end of the day the pair will remain within the sideways corridor of $9114 – $9600. A breakout to support at 8900.00 USD still remains relevant.   

ETH / USD

The price movement within the sideways range continued yesterday. From the support level of 180.00 USD, the pair recovered to the resistance of 186.00 USD. 

In the evening, buyers increased their volumes and were even able toset a local maximum outside the sideways pattern, around the 189.00 USD mark. However, tonight the price returned to the weekly flat. 

If buyers do not lose initiative and continueincrease volumes, then during the day there is a chance to test the resistance of 78.6% Fibo (192.57 USD). If sellers roll back the price below the hourly EMA55, then the sideways trend will continue. 

XRP / USD

Yesterday, the sideways movement of the Ripple price continued within the yellow corridor. From the lower border of 0.290 USD, the pair recovered above the middle line of the 0.300 USD corridor. 

If buyers can stay above averagelines, today a re-test of resistance of 0.310 USD is possible. If it fails to fix above the middle line of the corridor, then the XRP price will return to the hourly EMA55.

* All price values ​​are based on data from the BitStamp exchange