Yesterday, when the market reached new lows, purchases in excess of the average appeared. Will it continue price recovery today?
BTC / USD
Yesterday for the first time two weeks aftera long fall, a real buyer appeared. In the violet corridor, the BTC price turned around at 6515.00 USD, and rather large volumes of purchases restored the pair above the level of 23.6% Fibo (7026.59 USD). However, buyers have not yet been able to overcome the resistance of 7400.00 USD.
If today the price manages to gain a foothold above the hourly moving average EMA55, then until the end of the week the recovery may continue to the psychological mark of 8000.00 USD.
If the level of average prices does not hold the pair, then the BTC price will return to the violet range and freeze there in flat.
ETH / USD
Yesterday, the pair pierced support level 38.2% Fibo (135.17 USD) and fixed a monthly minimum at 131.74 USD. Recovery took place on volumes exceeding the average level, and buyers were able to test the resistance of 50% Fibo (151.94 USD).
If buyers overcome this resistance today, the recovery may continue to the four-hour EMA55 (160.00 USD).
If the activity of purchases will decrease, the pair will hang in a wide lateral range between two levels of fibonacci. Low trading volumes will contribute to the rollback of prices to support 38.2% of Fibo.
XRP / USD
Ripple Price Updated Annual Low To 0.219 USD and turned around on the recovery. Buyers still can not overcome the resistance of 0.225 USD, but we believe that by the middle of the week they will gain a foothold over the support of 0.230 USD and will test the strength of the four-hour moving average EMA55.
If breaking above this level of average prices does not work, then the pair will get stuck in the sideways.
* All price values are based on data from the BitStamp exchange