June 25, 2024

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

The recovery is expected to continue today.What adds a little confidence to this is that after yesterday’s high, the downward trend supported the pair during the pullback, and in the morning the BTC price had already managed to recover to the area of ​​the local maximum. 

We believe the bulls will be able to test this weekendtarget level in the region of eight thousand. Previously, we hoped that the price could consolidate in the sideways range of $8,000 – $8160, but now there is no firm certainty about this. Most likely, the indicated 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 level, buyers were able to recover into the area of ​​narrow consolidation at the POC level. 

LineControl Points(147.85 USD) provided support to the pair and today we expect more decisive actions from buyers to restore to the 50% fib level (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

Yesterday linePoint of control(220.00 USD) provided support to the XRP price and the pair’s recovery continued towards the blue trend line. 

Buyers tested this morningdescending dotted 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 for the further recovery of the Ripple price. 

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