Bitcoin price continued to rise yesterday and set a new record at around 42,000.00 USD.
BTC / USD
Yesterday, early in the morning, the price BTC fell back to the hourly EMA55 level, and feltthere is support, buyers began to restore the price to the January high. By the middle of the day, the volume of purchases made it possible to overcome the 40,000 mark and continue the bull run.
In the afternoon, the absolute maximum wasset at 42000.00 USD, after which a new wave of sales pulled the pair back to the unchanged support in the form of the hourly moving average EMA55, which took place around 38000.00 USD.
Until this morning, the couple recovered only toresistance of 40,000.00 USD, trading volumes decreased, and the price cannot continue to recover to the zone of the renewed January maximum. We believe that the pair will spend the first half of the day in sideways consolidation with support at the level of average prices.
If by the end of the week the bears push the moving average, then a re-test of the support at 36300.00 USD is possible.
ETH / USD
Yesterday morning, a rather deep pullback of the ETH / USD pair (below EMA55) did not allow buyers to continue the growth of the ether price to a new January high.
The recovery got stuck around the 1275.00 USD mark and before the end of the day, sellers again brought the ETH price back below the hourly moving average.
Over the past night, the pair was able to recover above the level of average prices, but trading volumes are low and it looks like a narrowing sideways range is forming, which we talked about in yesterday's forecast.
XRP / USD
Customers worked hard yesterday toto pull a pair out of the side channel $ 0.280 - $ 0.310. During the day, they managed to test the level of 0.345 USD, but by the end of the day the XRP price still rolled back to the upper border of the sideways range of 0.310 USD.
If the bears push through this support today, the pair will roll back to the two-hour moving average EMA55, which is around the 0.280 USD mark.
* All price values are based on data from the BitStamp exchange
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