BTC price has recovered to the zone of recent highs, but will the bulls be able to continue the race today overheated market?
BTC / USD
Yesterday morning, price declineBitcoin was limited to 30,000.00 USD. During the day, buyers managed to gain a foothold above the level of average prices and until this morning the pair returned to the 34000.00 USD mark, settling in a narrow side corridor.
Trading volumes are average, and if the bullsif they want to continue their run to the area of 36,000.00 USD, they need to increase their purchases. If buyers fail to rock the overheated market, sellers could pull the price back below the hourly EMA55.
ETH / USD
Yesterday morning, the price of Ethereum fell below the psychological level of 1000.00 USD, but buyers were able to stop the decline in the area of the hourly moving average EMA55.
During the day, at medium volumes, the price recovered to the zone of January highs, but the bulls cannot continue to grow, as sellers periodically knock the pair into a pullback.
If the bears are unable to push through the average price level, then buyers will try to continue to rise to the 1200.00 USD area.
XRP / USD
Ripple price fixed in a narrow sideways atthe level of the POC line (0.228 USD). Despite the surge in sales volumes above the average level, the pair managed to stay above the upper border of the blue channel (0.213 USD).
If by the end of the week bears are able to push through the support of 0.213 USD, then the price will roll back to the lower border of the sideways range, to the area of December lows.
* All price values are based on data from the BitStamp exchange
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