Cryptocurrency Price Analysis: Bitcoin, Ethereum, XRP
Table of Contents
Cryptocurrency Price Analysis (Bitcoin, Ethereum, XRP)
Yesterday bears did not allow buyers to continue their recovery and pushed prices back below average.
Yesterday morning, the pullback of the BTC price did not stop at the psychological level of 50,000.00 USD but continued to the area of the two-hour EMA55. The moving average kept the pair from further decline for some time, but in the evening the bears intensified the onslaught and pushed the level of average prices.
As of this morning, sellers pushed the price close to the support of 46000.00 USD. Around 46300.00 USD, the decline has slowed down significantly and today buyers will try to restore the pair to the area of average prices.
If buying volumes remain at a low level, then the bears may push through the fairly strong support of 46000.00 USD.
Yesterday we counted on the support of the two-hour EMA55, which at first held back the onslaught of bears, but late in the evening sellers broke through the level of average prices, and in the morning the ETH / USD pair tested the level of 1450.00 USD.
At the moment, the decline has slowed down, but the volume of purchases is too small, so the decline may continue to the support of 1400.00 USD.
If a large buyer enters the market, the pair will recover to the average price area.
All prices are based on the data of the BitXmi exchange
Yesterday, buyers took advantage of the support at 0.450 USD and tried to test the resistance of 0.500 USD, however, the daily high was only set around the 0.495 USD mark.
Over the past night, the XRP price returned to the upper border of the sideways range and today buyers will try again to restore the pair to the psychological level of 50 cents.
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