November 15, 2024

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.28.2019

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.28.2019

Today the bulls may undertake an intense price recovery, but will they be able to consolidate in the weekend?maximum zone?

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.28.2019

Despite yesterday's false bearish breakoutsupport at 7166.00 USD, the movement in the sideways range still continued. During the day, sellers increased the pressure and, having increased the volumes, tried to roll back the pair to the level of 23.6% Fibo (7026.59 USD).

However, the strength was only enough for the minimum at 7052.00 USD. As we expected yesterday, buyers quickly returned the price to a narrow range to the Point of Control line.

Tonight, the efforts of buyersthe pair's recovery continued, and they were able to break through the average price level. In the morning, the pair consolidated in the area of ​​7300.00 USD, and this can be regarded as a claim to break through 7400.00 USD. 

Most likely, today the pair will leave the sideways range of $7166 - $7400 and test the gray resistance area of ​​7600.00 USD.Will the bulls have enough strength to break through this powerful grey cloud of resistance this time or will the pair return to its usual sideways movement?

If we assume that the market maker is preparing for a pump, then a retest of the psychological level of 8000.00 USD is quite possible. Another questionwill the price give a foothold above this level? We will talk about this at the beginning of the next trading week, after analyzing the dynamics of the pair over the weekend. 

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.28.2019

Yesterday sellers broke through the lower boundary of the weeklysideways range and set a local minimum at 121.82 USD. However, before the end of the day, the pair was able to return to the two-hour EMA55 level. Tonight, the price of ether consolidated in the area of ​​the POC line, where it has been beating in a flat for about two weeks.

If by the end of the week the bulls take anotheran attempt to break through the resistance level of 38.2% Fibo (135.17 USD), then a weekly maximum is possible around 144.00 USD. If you fail to overcome the 38.2% fibonacci level, the pair will continue to sideways on the Point Of Control line.

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.28.2019

Yesterday there was a bit of pressure from sellersintensified, but trading volumes remained at approximately average levels. As a result, after a daily low of 0.184USD, the pair was able to recover to the four-hour EMA55. 

Today we are expecting a battle of buyers fordominance over the average price level. If the bulls win, the recovery will continue to the descending dotted trend line, and the weekly maximum is possible in the resistance area of ​​0.200 USD. 

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