The market decline has slowed down significantly, but buyers are still unable to get prices out of the downtrend channel.
BTC / USD
Yesterday morning the bears triedpush the bitcoin price back to the 78.6% fibo level (55287.64 USD). However, sales volumes were below average and buyers did not allow the price to consolidate below 56,000.00 USD.
In the afternoon, the price recovered totwo-hour EMA55, and broke through to the resistance of 58000.00 USD tonight. It should be noted that the growth was not supported by large buying volumes at night. If during the day the bulls can form an impulse, then the pair will continue to recover to the psychological level of 60,000.00 USD.
If it is not possible to gain a foothold above the level of average prices, then the bears will break through the support of 78.6% fibonacci.
ETH / USD
Yesterday morning, buyers held the price of Ethereumabove the level of average prices, but it was not possible to break through the resistance of 4300.00 USD. In the second half of the day, sellers rolled back the ether price to the POC line (4197.94 USD), but the bears' efforts were not enough to break through this Volume Profile indicator line.
By the end of yesterday, the couple was back in the areaaverage prices, and pierced the resistance of 4300.00 USD tonight. If buyers manage to gain a foothold above this green level, then the recovery will continue to the area of 4500.00 USD.
XRP / USD
Yesterday morning the bulls failed to break through the two-hourEMA55, and the pair continued to decline to the psychological level of 1.00 USD. In the afternoon, XRP price renewed its November low at 1.007 USD, but buyers did not give the bears an opportunity to test the green support of 1.000 USD.
Shopping volumes were below average tonightlevel, at the same time in the morning the pair was able to recover to the area of average prices. As you can see, the moving average EMA55, as before, keeps the Ripple price in a local down trend. This may lead to a decline towards the support area of 0.960 USD.
On the other hand, a break above the average price level will give impetus to a recovery towards the 1.100 USD resistance.
* All prices are based on BitStamp data
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