July 22, 2024

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

If sellers' pressure intensifies, today prices will update last week's lows.

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

On Saturdayпокупатели не смогли нарастить объёмы, темпы growth slowed down and the price of BTC sank below the hourly EMA55. In the afternoon, sales began, due to which the pair broke through the support of 7166.00 USD and tested the 23.6% fib level (7026.59 USD). This level stopped the decline and buyers tried to use it to restore to the Point Of Control line, but they failed to gain a foothold in this area. 

Volumes have declined and buyers are not able to overcome the moving average EMA55 with low trading activity.

Today we expect a retest of the 23.6% Fib level (7026.59 USD).Can this level also reliably keep the price from falling?On small volumes, it will work out a reversal, but if the pressure from sellers increases, it will not be able toHold the pair for a long time. 

Over the weekend, the price was able to puncture this level several times, in case of today's breakout, the pair will fallto the area of the purple trend line, the local low will be somewhere around the level of 6900.00 USD. 

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

On Saturday, trading was sluggish, market activity was low, and the price of ETH was still consolidating at the level of the hourly EMA55 by inertia.Then, on the same small volumes, the pair began to slowly decline.Weak bearish momentum accelerated the price decline to the area of the weekly low and only after the price broke through the support of 140.00 USD, buyers began to make attempts to recover the pair. 

On Sunday, buyers managed to break through above the level of average prices, but failed to gain a foothold above it.Subsequent attempts were also unsuccessful – the EMA55 moving average reversed the pair to a decline. 

Today we can expect the price to return to the support of 140.00 USD.There is no strong bearish pressure yet, there is a chance to stay in a wide sideways trend, but if the pressure increases, the pair will renewLast week's low and will test the 38.2% Fib level (135.17 USD). 

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

Last weekend, the price of Ripple failed to overcome the two-hour EMA55 and has been pulling back below the blue trend line all the time. 

Today, on small volumes, the decline to the area of last week's low continues.If the sales volume exceeds the critical level, the support at 0.210 USD will break through and the next local low may be around 0.205 USD. 

   

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