September 19, 2021

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11.16.2019

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11.16.2019

Will buyers be able to seize the initiative and begin recovery today?

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11.16.2019

Yesterday in the first half a day, buyers did a good job and recovered the pair from support of 8500.00 USD to the level of average prices. However, in the afternoon, the bears continued to pressure and broke the line. eight and a half. In the morning, the price of BTC was fixed in a narrow corridor, immediately below the mark of 8500.00 USD.

Indicator lines Stoch RSI entered the zoneoversold, but today we can hardly expect a significant recovery. In theory, the level of 8500.00 USD turns into a powerful resistance, which will restrain growth attempts.

We believe that despite the oversold market, in the medium term, the price of BTC can smoothly roll back to the area indicated by the yellow dotted line and gain a foothold there in the lateral range.

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11.16.2019

It seemed that the buyers yesterday morning were ablefind support in the area of ​​180.00 USD, and restore the price of airtime to the previous level. But in the evening, a sufficiently strong bearish impulse dispersed the longists' hopes for growth and indicated a minimum at 177.11 USD.

At night, volumes declined, and with low market activity, the price of ETH slowly recovered to the level of 180.00 USD.

This morning, the pair manages to stay in a narrowconsolidation at this point, and since indicators indicate overselling of the market, there is reason to believe that the recovery may continue to the line Point of control (183.14 USD).

However, with a strong local trend, indicator lines can go off the scale in the oversold zone for a long time, while sellers can continue to decline in the pair to support 176.00 USD.

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11.16.2019

Yesterday morning, the downtrend is prettyfor a long time kept the pair from falling, and even allowed buyers to recover in the region of average prices. But in the evening, a strong bearish impulse broke through the support of the trend dashed line and the price set a minimum at 0.252 USD.

During the night, volatility decreased and the pair smoothlyrecovered to the level of 0.260 USD. On larger time frames, the indicators are in the oversold zone, perhaps this level can provide support for the further recovery of the pair.

However, if today the pressure from the bears does not stop, then the price of Ripple will roll back to yesterday's low.

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