Tonight, a strong bearish impulse punctured the nearest level of support and marked a weekly low. Will the bulls be able to stop the fall?
BTC / USD
Yesterday morning the hour-long EMA55 supported the price of Bitcoin and buyers restored the pair to the zone of annual maximum.The recovery was not supported by volumes, and barely the price had time to update the annual high at $490.00 as the bears began to ramp up the pressure.
By the end of the day they returned the pair to the area of average prices, and at night the pressure increased and the price broke through the hourly moving average EMA55.In the morning sellers formed a powerful bearish impulse, which punctured the support of 17600.00 USD and marked the weekly minimum in the area of 17250.00 USD.
After bouncing to 18000.00 USD trading volumes began to decline and price volatility decreased. Most likely, after the sobering fall, some consolidation is possible in the sideways corridor with support at 17600.00 USD. If the price can be stabilized, then the bulls will be able to return the pair to the average price area.
If, after a short sideways trend, the bears intensify the onslaught and break through the violet support level, then the price will roll back to the 78.6% fibo level (16125.65 USD).
ETH / USD
Buyers were unable to continue to rise yesterday morning. Above 600.00 USD, buying volumes decreased and sellers began to increase pressure. Until the end of the day, the ether price could not stay above the 580.00 USD mark, and tonight the bears broke through the support of 550.00 USD and tested the lower border of the green ascending channel.
Until the morning the pair managed to stay above the psychological level of 500.00 USD and if the bulls can stop the decline, today they will try to restore the pair to the level of 550.00 USD.
If market participants are pessimistic, the pair will leave the ascending channel and test the level of 475.00 USD.
XRP / USD
Yesterday, in the morning, buyers triedrestore the Ripple price after a rollback to the 0.600 USD area, but in the evening the selling pressure became more noticeable, and by the end of the day the price returned to the level of average prices.
After midnight, the trading was rather nervous, and the bears pushed through the hourly EMA55, and in the morning the bearish impulse marked a local minimum at 0.525 USD.
At the moment, there is still a possibility of re-testing the psychological mark of 0.500 USD, but if buyers are able to seize the initiative, they will try to restore the pair to the area of average prices.
* All price values are based on data from the BitStamp exchange
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