Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/05/2019

Will there still be an opportunity to recover to bullish goals?

BTC / USD

Yesterday morning buyers triedstay around the level of 7166.00 USD.At first it didn’t work out well, and the price kept sliding down to the level of 7100.00 USD, but closer to lunch it was possible to gain a foothold above the resistance of 7166.00 USD. Soon, a strong bullish impulse, within some three to five minutes, broke through the resistance of 7400.00 USD and set a maximum at 7772.71 USD. 

It was not possible to stay near the maximum; the pricejust as quickly rolled back to the area of ​​7500.00 USD and it seemed that it would be able to gain a foothold in this area. However, even before the end of the day, the pair returned to the previous level, from which the price gap began.  

Following the results of yesterday's trading, the intrigue withfurther assault on bullish $8,000 targets – $8160 only strengthened even more. If yesterday began under the resistance level of 7166.00 USD, then tonight this level provided support for the pair and in the morning the price is consolidating around the 7200.00 USD mark. 

Repeated bullish impulse could testpsychological mark of 8000.00 USD, but we believe that it will be difficult for buyers to gain a foothold in this area. We still believe that moving below the 23.6% fib level (7026.59 USD) will deprive buyers of the chance to test bullish target levels for a long time. 

ETH / USD

Yesterday, buyers were able to maintain their chances ofrecovery to the target level of 160.00 USD. During yesterday's trading, the pair made a breakout above the average price level and tested the 50% fib level (151.94 USD). However, even before the end of the day, the price of ether returned to the area around 144.00 USD. 

 If today the pullback continues below the support of 140.00 USD, then the pair will lose the opportunity to test the bullish target of 160.00 USD in the near future. 

 

XRP / USD

Yesterday, buyers were able to maintain their chances ofrecovery and did not allow the bears to push the price to the area of ​​the annual minimum. During the recovery, they managed to test the four-hour EMA55, but failed to gain a foothold in the area of ​​average prices. Before the day closed, the price returned to its previous level, to the level of 0.213 USD. 

If today sellers increase sales volumes and the decline continues to the minimum area, then the price will enterzone of no returnto bullish goals.

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