Over the weekend, prices rebounded from the weekly low, but can buyers continue to recover?
BTC / USD
Over the weekend, the daily EMA200 kept the BTC price from further decline in a narrow consolidation.The bears failed to push through the support of the EMA200 moving average, and on Sunday evening, buyers were able to organize a recovery of the pair above the level of 8900.00 USD.The recovery has been bolstered by large volumes, which have fallen sharply tonight.
We believe that the price of Bitcoin will be held in consolidation between the EMA200 and EMA55 for a short time.On the daily timeframe, the indicator lines have reached the oversold zone and are formingA signal for recovery, but the potential for a decline in the price still remains.
If the bears resume pressure, then they couldwould pierce the EMA200 and test support for 8500.00 USD. The question of further reduction rests on the reliability of support for 8500.00 USD. Despite the fact that this level acted as resistance, judging by the indicators, it could cope with the onslaught of bears.
ETH / USD
After the price rolled back to the area of 180.00 USD last Friday, over the weekend buyers were able to significantly restore the pair to the area of 192.00 USD.However, it has not yet been possible to gain a foothold in the area of the maximum and this morning the price mayretrace to the hourly EMA55.
If the average price level supports the pair, buyers may continue their attempts to test the resistance of the 78.6% Fib level (192.57 USD).If the sellers break through the EMA55, the pair will return to the POC line (182.88 USD).
XRP / USD
Last week's low was set at 0.270 USD on Friday.On Saturday and Sunday, buyers worked to restore the price above the hourly EMA55, but it has not yet been possible to gain a foothold in this area.
This morning, the bears resumed pressure and the pair may retrace to the support of 0.260 USD.
* All price values are based on data from the BitStamp exchange