November 27, 2022

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/07/2019

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/07/2019

Until the end of the current week, prices may test bull target levels.

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/07/2019

Yesterday the bulls only in in the afternoon they were able to break through the purple trend line, which for more than a month limited the attempts of buyers to restore the price from a deep peak.

Today is expected to continue recovery. A little added confidence in this is that after yesterday's high, the downtrend provided the pair with support during the pullback, and in the morning the BTC price managed to recover to the area of ​​the local maximum.

We believe the bulls will be able to test over the weekendtarget level of eight thousand. Earlier, we hoped that the price could gain a foothold in the lateral range of $ 8,000 - $ 8,160, but now there is no firm certainty about this. Most likely, this corridor will be a reversal zone for a decline.

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/07/2019

Yesterday, after some pullback below the hourly EMA55, buyers were able to recover in the area of ​​narrow consolidation at the POC level.

Line Control Points (147.85 USD) supported the pair and today we expect more decisive action from buyers to restore to the level of 50% Fibo (151.94 USD).

If trading volumes are as sluggish as yesterday, then recovery will bog down in a wide side corridor and will remain at a 50% fibonacci level for a long time.

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/07/2019

Line yesterday Point of control (220.00 USD) supported the XRP price and recovery of the pair continued towards the blue trend line.

This morning, buyers testeddescending dashed line. By the end of the week, it is expected that the bulls will be able to break through this trend line and it will act as support in the further recovery of the Ripple price.

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