The Ethereum price yesterday updated its maximum at the point of 2800.89 USD, however, the growth rate has significantly decreased. How much deep pullback awaits the market?
BTC / USD
Trading volumes were low yesterday morning andbuyers were unable to continue the BTC price recovery to the resistance of 56000.00 USD. In the afternoon, selling pressure began to intensify, and in the afternoon bitcoin price broke through the orange support of USD 53,400.00, setting a daily low around USD 52,380.00.
Over the past night, buyers were able to restorethe pair to the orange level, but the two-hour EMA55 limited further growth. If the level of average prices turns the pair downward, then the daily low can be set in the yellow support area of 51600.00 USD.
If the bulls overcome the resistance of the moving average EMA55, then the price will recover to the area of 56000.00 USD.
ETH / USD
Yesterday, after a slight pullback, the bulls were able tocontinue the race and update the absolute maximum around the 2800.00 USD mark. However, the Ethereum price could not hold above the middle line of the rising channel, and in the afternoon the pair tested the support of 2700.00 USD.
Over the past night, buyers have triedrestore the pair to the zone of the absolute maximum, but the middle line now acts as resistance, which knocks down the dynamic bullish run. Most likely, today buyers will not be able to break above the channel's center line and test its upper border. A decrease in the area of average prices looks more likely.
XRP / USD
Yesterday XRP price continued to consolidate sidewaysrange, in the area of the POC line (1.385 USD). During the day, sellers were unable to push through the two-hour EMA55, and at the moment the price is fluctuating right at the Volume Profile indicator line.
We still expect a spike in bullish activity and a breakout of the 1.500 USD resistance. However, on small volumes, buyers are unlikely to be able to overcome the purple resistance. one and a half dollar per coin, and the pair will remain in sideways consolidation until the end of the week.
* All prices are based on BitStamp data
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