Over the weekend, prices rebounded from the weekly low, but can buyers continue to recover?
BTC / USD
Last weekend, the daily EMA200 heldBTC price from a further decline in narrow consolidation. The bears did not manage to push the support of the moving average EMA200, and on Sunday evening, buyers were able to organize a recovery of the pair above the level of 8900.00 USD. The recovery was backed up by large volumes, which fell sharply tonight.
We believe that a short time priceBitcoin will be held in consolidation between EMA200 and EMA55. On the daily time frame, the indicator lines reached the oversold zone and form a signal for recovery, however, the potential for lowering 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 last Friday the pricerolled back to the area of 180.00 USD, over the weekend, buyers were able to significantly restore the pair to the area of 192.00 USD. However, it has not been possible to gain a foothold in the maximum area and this morning the price may roll back to the hourly EMA55.
If the average price level supports the pair, thenbuyers can continue their attempts to test the resistance level of 78.6% Fibo (192.57 USD). If sellers break through EMA55, the pair will return to the POC line (182.88 USD).
XRP / USD
Last week's low was set on Friday ataround the mark of 0.270 USD. On Saturday and Sunday, buyers worked to restore the price above the hourly EMA55, however, it has not been possible to gain a foothold in this area.
This morning the bears resumed pressure and the pair may roll back to the support of 0.260 USD.
* All price values are based on data from the BitStamp exchange