The bears intensified the pressure, pushing prices into a deep correction.
BTC / USD
Bearish pressure resumed yesterdaywith renewed vigor. The BTC price left the ascending channel and in the afternoon tested the support of 10500.00 USD.
Until the end of the day, the pair managed to rebound to 10,800.00 USD, but tonight the fall continued and the bears rolled back the price to the psychological level of 10,000.00 USD.
In the morning you can see a rebound to the 10200 area.00 USD, but to say that the price of BTC has reached the bottom – it is too early. We believe that at this stage the decline will slow down significantly, but a transition to a stable sideways trend can be expected after a re-test of the two-hundred-day moving average.
Most likely, a long-term flat will await us when the price descends into the purple corridor $9300 – $9800.
ETH / USD
Yesterday, large sales resumed and the bears pushed through the psychological support of 400.00 USD, and tonight the price fell to around the 370.00 USD mark.
In the morning, there is a slight rebound to the level of 390.00 USD, but on the daily time frame more than “reliable“The support level can be called the moving average EMA55, which is currently in the area of 360.00 USD. We believe that the decline will stop at this level.
XRP / USD
Yesterday, the decline in the price of Ripple continued, and it was too lateovernight the pair tested the level of 0.240 USD. As of this morning, the price rebounded to the support of 0.250 USD and trading volumes decreased significantly. The price is frozen in a narrow sideways range.
Buyers are trying to recover above the 0 level.250 USD, but judging by the Stoch RSI indicators on the daily time frame, the market has not yet entered the oversold zone, so there is still downside potential.
We believe that the decline may continue to the daily EMA200, which passes at the level of 0.233 USD.
* All price values are based on data from the BitStamp exchange