Yesterday, the bitcoin price renewed its monthly high above the psychological mark of 50,000.00 USD. Will it continue growth today?
BTC / USD
Buyers kept their activity and price yesterdaybitcoin continued to grow. During the day, the pair broke through the psychological level of 50,000.00 USD, and at the end of the day, a new bullish momentum pushed the BTC price up to 52,000.00 USD.
At night, a new October maximum was recorded ataround the 51915.00 USD mark. Despite the fact that the volume of purchases has decreased this morning, the price has held above the fifty thousandth barrier and may continue to rise towards the orange resistance of 53,400.00 USD.
However, one should not forget that at daytimetime frame Stoch RSI indicator lines are going off scale in the overbought zone. Therefore, you need to be prepared for a sharp correction of the pair to the area of the 61.8% Fibonacci level.
ETH / USD
Yesterday morning bearish pressurewas absent and the price of Ethereum followed the growth of the cryptocurrency flagship, to the resistance at the level of 3500.00 USD. Late night, weak bullish momentum pierced this resistance and marked a monthly high around 3550.00 USD.
As of this morning, the price has slowly rolled back below the level of 3500.00 USD. If Bitcoin continues to pull the market up, then it is possible that the price of ETH will update the October high in the area of 3630.00 USD.
However, given the overbought market, wewe believe that a decline to 3400.00 USD will begin soon. If this green support does not stop the pullback, then a return to the level of 3200.00 USD should be expected in the near future.
XRP / USD
XRP price yesterday failed to update its October high.
Tonight, the pair recovered closely to the monthly high at 1.089 USD, but failed to continue its growth.
A weak correction is being observed this morning, which may continue to the support of 1.030 USD. If the bears break it, the market will drop below the psychological level of 1.00 USD.
* All prices are based on BitStamp data
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