Will the bears continue to decline the market to new lows?
BTC / USD
Yesterday during the day to the bears managed to test the 78.6% fibo level (55287.64 USD), while they renewed the November low at 55128.60 USD. In the afternoon, the bitcoin price bounced off this level, but the two-hour EMA55 again stood as resistance on the way of the pair's recovery, which practically coincided with the blue level of 58000.00 USD.
Today we will again observe the bears' attempts to push through the 78.6% Fibonacci. If they can strengthen the onslaught, the pair will test the support of 53400.00 USD.
If buyers are 78.6% Fibo, then in the second half of the week, we can expect a recovery above the moving average EMA55.
ETH / USD
Ethereum price recovered higher yesterdaythe two-hour EMA55 and marked the daily high around 4390.00 USD. However, the pair failed to hold above the green level of 4300.00 USD (over the past night, the ether returned to the area of average prices).
If the moving average EMA55 supports the ETH price today, buyers will continue to increase their volumes, while the pair will recover to the area of 4500.00 USD.
The bears still have chances to achieve a decline to the psychological level of 4000.00 USD, only if the POC line (4197.94 USD) is broken.
XRP / USD
There was no bearish pressure yesterday and buyers were able to restore the price to the 2-hour EMA55 area.
Break above average prices tonightDid not work out. But in the morning, buyers will try to repeat the breakthrough above the EMA55 moving average, which has been keeping the XRP price in a local down trend for two weeks. If we manage to form a bullish momentum, the pair will recover to the 1.100 USD area.
Otherwise, the downtrend will continue below the psychological level of 1.00 USD.
* All prices are based on BitStamp data
Subscribe to ForkNews on Telegram