Analysis of Bitcoin, Ethereum, XRP prices for 12/09/2021

Consolidation in the area of average prices continues. Will bulls be able to continue their recovery by the end of the week??

BTC / USD

Yesterday in the first half of the day trading volumes were very low. The price of Bitcoin fell below the psychological level of 50000.00 USD, setting a daily low at 48656.00 USD. 

This decline has awakened consumer demand andpurchase volumes increased to average levels. The BTC price was able to recover to the two-hour EMA55, but failed to overcome the resistance of this moving average. 

This morning the pair rolled back lower againmark 50000.00 USD and during the day the rollback may extend to the 61.8% fib level (47745.25 USD). If the bears are able to push through it, then we will see a decline towards the support of 46000.00 USD. 

The negative scenario may not work if the bulls pick up the price in the area of 49500.00 USD and try to gain a foothold above the average price level.

ETH / USD

Yesterday, sellers tried to push through the support of the two-hour EMA55. During the day, the price of Ethereum broke through the moving average and marked the daily low at 4226.00 USD. 

In the evening, the pair recovered above the level of 4400.00 USD, and tonight buyers came close to the level of 4500.00 USD, but were unable to test it. 

In the morning, the price of ether returns to the average areaprices and today we will again hope for support from the two-hour EMA55. If the bears are unable to push through the moving average EMA55, then we can count on a recovery above 4500.00 USD. 

XRP / USD

Yesterday morning, buyers were unable toto break through the resistance of the two-hour EMA55, and in the afternoon their attempt was more successful. Closer to the night, the XRP price recorded a local maximum at 0.885 USD. 

If the pair consolidates above the moving average EMA55, then by the end of the week the recovery will continue to the level of 0.960 USD.

* All prices are based on BitStamp data

Subscribe to ForkNews on Telegram