June 18, 2024

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/10/2019

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/10/2019

At night, the evening rollback stopped. Will the next levels of support withstand the next onslaught of sellers?

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/10/2019

Yesterday morning, sellers pushed through the hourly EMA55, butbuyers did not abandon their idea of ​​breaking through the gray zone, and until the evening they tried to restore the pair above the resistance area. At some point, volatility increased sharply and a strong bullish impulse broke through the level of 7600.00 USD. The BTC price growth stopped at a maximum of 7666.00 USD. 

The sellers' response was immediate.Large selling volumes quickly pulled the price back to support at 7400.00 USD, and at the end of the day, bearish pressure intensified and the price tested the descending purple trend line. It limited the price decline and, already in a calm market, helped buyers recover at night to the area of ​​7400.00 USD.  

If buyers this morning can continuerecovery above the 7400.00 USD mark and return the pair to the hourly EMA55, then during the week they will still be able to compete for the target levels of the bulls ($8000 – $8160).   

If, after yesterday's active struggle, buyers allow themselves to relax, then they will not be able to overcome the resistance of 7400.00 USD, and the decline will continue to the support of 7166.00 USD. 

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/10/2019

Yesterday morning, the ETH price pulled back to the hourly EMA55.This level of average prices provided support and buyers again tried to storm the 50% fib level (151.94 USD). The unsuccessful attempt ended with a rollback below the POC line (147.99 USD). 

Tonight, buyers stopped the price decline in the area of ​​147.00 USD, but it is not yet possible to restore the pair above Point Of Control. 

If trading volumes are low during the day, the pair will spend the rest of the day in a narrow sideways range on the POC line. 

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/10/2019

Yesterday's buyer attack on the levelresistance at 0.230 USD ended in a rather unexpected pullback. The downward blue trend line failed to stop the selling and the price stopped the decline at the low of 0.221 USD.   

At night, buyers tried to improve the situationand restore the price. However, the trend line now acts as resistance, and even on average volumes, buyers cannot yet overcome it. 

If sellers do not stop pressing, the price will continue to roll back, and today there is all hope for support of 0.219 USD, which may limit the decline in the pair.

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