Yesterday, as the market hit new lows, above-average buying emerged. Will it continueprice recovery today?
BTC / USD
Yesterday for the first time in two weeks afterAfter a long fall, a real buyer appeared. In the purple corridor, the BTC price turned around at 6515.00 USD, and quite large volumes of purchases restored the pair above the 23.6% fib level (7026.59 USD). However, buyers have not yet been able to overcome the resistance of 7400.00 USD.
If today the price manages to consolidate above the hourly moving average EMA55, then by 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 broke through the support level of 38.2% fibo (135.17 USD) and recorded a monthly minimum at 131.74 USD. The recovery took place on volumes that exceeded the average level, and buyers were able to test the resistance of the 50% fib (151.94 USD).
If buyers overcome this resistance today, the recovery may continue towards the four-hour EMA55 (160.00 USD).
If purchasing activity decreases, the pairwill hang in a wide sideways range between two Fibonacci levels. Low trading volumes will contribute to a rollback of the price to the support of 38.2% fibo.
XRP / USD
Ripple price has updated its annual minimum to 0.219 USD and turned to recovery. Buyers cannot yet overcome the resistance of 0.225 USD, but we believe that by the middle of the week they will consolidate above the support of 0.230 USD and will test the strength of the four-hour moving average EMA55.
If you fail to break above this level of average prices, then the pair will get stuck in a sideways trend.
* All price values are based on data from the BitStamp exchange