After yesterday's monthly low, there are faint hopes for a continued market recovery, but givensmall purchases decline may continue to stronger support levels.
BTC / USD
Yesterday a strong bearish impulse knocked the pair out ofnarrow consolidation and broke through the lower border of the yellow side channel. The daily low is set at 7394.09 USD. The BTC price broke through the key support at 7400.00 USD and rebounded to the area of 7650.00 USD. The rebound is quite weak, on very low volumes.
On the daily time frame, the indicator lines have closeddeep into the oversold zone, and assuming that 7400.00 USD – this is a reversal zone, then today the price may recover into the yellow side corridor, as it already happened on October 25.
However, last month, we already talked aboutstronger support at the 23.6% fib level (7026.59 USD). If buyers now fail to seize the initiative and form a bullish impulse, then the price will drop to the area of 7000.00 USD.
ETH / USD
Yesterday, the bears did not give buyers any chance to recover, and from the sideways range they pushed the price to a new November low at 155.53 USD.
Overnight, the ETH price rebounded to around 162.00 USD, but looking at the small volumes, it is difficult to say whether the recovery will continue in the near future.
On the daily time frame, the indicator rolls over in the oversold zone, but the decline may continue to the support level of 50% Fibo (151.94 USD)
XRP / USD
Yesterday morning, buyers were unable to overcomehourly EMA55, and at this point attempts to recover completely stopped. Strong bearish pressure pulled Ripple price back to a new monthly low of 0.235 USD.
Overnight the price recovered slightly, butThe pair’s recovery is not supported by volumes and it is still difficult to count on continued growth. We believe that today we will return to the zone of yesterday's minimum.
* All price values are based on data from the BitStamp exchange