A sharp decline in the market may lead to renewed monthly lows.
BTC / USD
Last Saturday price bitcoin renewed its weekly high at 48834.00 USD, but it did not work out to continue its growth on such small volumes to 49000.00 USD.
In the second half of the day, sellers began to put pressure and returned the price to the 61.8% fibo level (47745.68 USD). On Sunday, the bears broke through this level and the pair continued to pull back below the two-hour EMA55.
As of this morning, the BTC price has already piercedsupport at 46000.00 USD, setting a minimum around 45135.00 USD. In the event of a feverish panic in the market, a powerful bearish impulse is not excluded, which is able to test the fifty percent Fibonacci level (42447.96 USD).
ETH / USD
On Saturday, the price of Ethereum recovered above the level of the two-hour EMA55, but could not continue to grow into the zone of the weekly high.
In the afternoon, trading volumes decreasedand the price of ether began to decline. Until the end of the day, the pair reached support at 3400.00 USD, and on Sunday the bears pushed through the green support and continued to decline.
This morning, the sellers pierced anothersupport level 3200.00 USD. Perhaps this support will ease the bearish pressure and the price of ETH will rebound. However, in case of an increase in sales volumes, the price will continue to fall to the psychological level of 3000.00 USD.
XRP / USD
Over the weekend, XRP price failed to recover above the 2-hour EMA55 level and rolled back to the weekly low.
The onslaught of bears intensified tonight. The pair broke through the psychological level of 1.00 USD, setting a local minimum around 0.967 USD.
During the day, bears may continue to decline to a new September low in the support area of 0.900 USD.
* All prices are based on BitStamp data
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