It is possible that the bulls will reduce their activity over the weekend, and the pairs will spend the rest of the week flat.
BTC / USD
YesterdayIn the afternoon, sellers tried to break above 7600.00 USD, but the bearish momentum to the hourly EMA55 was fleeting and after all stop orders were collected, the recovery continued.The weekly high is set at 7870.00 USD.
Closer to night, the trading volumes decreased and, having rolled back from the high, the pair settled in a narrow consolidation at the level of 7750.00 USD until the morning.Thus, the bulls came close to the target growth range of $8000 – $8160,but will they be able to test it today?
On the eight-hour chart, the BTC price rests on the EMA55 moving average, and the Stoch RSI indicator lines are near the 100% mark in the overbought zone.If in this situation the bulls manage to break through to the target line, then they will have to use some additional reserves.
Otherwise, the pair will spend the weekend in a wide sideways range until the indicators are unloaded.
ETH / USD
Continued Ethereum Price Recoveryit is viewed by the updated weekly maximum around 158.00 USD, but tonight the price again returned below the four-hour EMA55 and consolidated there in a narrow consolidation.
We believe that over the weekend, the market activity will be low and the pair will spendThe weekend is in a sideways range, relying on the support of the 50% Fib level (151.94 USD).The recovery to the area of 160.00 USD may continue from next week.
XRP / USD
Yesterday, buyers struggled to break through the resistance of the four-hour EMA55.They were unable to break above the average price level, and the pair settled at this level in a narrow consolidation until the morning.
If buyers are able to take advantage of the support of the moving average, the recovery will continue to the area of the blue dotted line (0.240 USD).
However, if the trading volumes are small over the weekend, the pair will holdThe rest of the week is in a sideways range of $0.220 – $0.230
* All price values are based on data from the BitStamp