At the end of last week, the bulls could not continue the race and the price of Bitcoin rolled back to the area of average prices.On the decline may continue this week.
BTC / USD
Over the weekend, the bears intensified the onslaught and pushed throughthe upper border of the blue ascending channel. The bitcoin price returned to the blue channel and tested the four-hour EMA55. Since the middle of last month, this moving average has been a reliable support.
This time, buyers were able to restore the pairfrom the level of average prices to the upper border of the corridor. The recovery took place on decreasing volumes, and if large buyers do not support further growth to the 78.6% Fibo level (16125.65 USD), then the bears will be able to push through the support of EMA55 and test the lower border of the blue channel.
ETH / USD
Last Saturday, buyers could notbreak above the blue trend line. During another attempt to break the trend line by storm, the bears formed an impulse, which pulled the pair back to the 425.00 USD mark.
Shoppers tried to get the price back on Sundayether to its previous level, but buying volumes were too low and the recovery got bogged down in the 450.00 USD area. If bears intensify the onslaught today, the pair will roll back below the average price level.
XRP / USD
Last weekend the price of Ripple failedto gain a foothold above the upper border of the wide sideways channel (0.260 USD). On Saturday, a powerful onslaught of bears brought the pair back into the two-month sideways range, and at the end of Saturday the pair tested the POC line (0.246 USD).
At the auction on Sunday, the price was able toto recover to the green trend line, but we believe that today the pair will not be able to consolidate above this uptrend line, and the decline will continue to the support area of 0.240 USD.
* All price values are based on data from the BitStamp exchange
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