Yesterday morning, buyers continued the recovery of the BTC / USD pair, but during the day, the bulls repeatedly ran into bearish impulses, which brought the price down to support around the 53,300.00 USD mark.
By the end of the day, the pair came close to the target level of 55000.00 USD, however, it was possible to break through this resistance only tonight. The March high was set at 55855.00 USD, and in the morning the bitcoin price returned to the support of 53,300.00 USD.
If sellers' efforts are limited today by this support, then buyers will try to restore the price to the zone of the monthly maximum.
If the bears push below the 53300.00 USD mark, the price may retrace to the two-hour EMA55 area.
ETH/USD
Yesterday, after the morning high around the 1860.00 USD mark, the trading volumes decreased and the sellers pressed the ether price to the support of 1800.00 USD.
Tonight there was a weak attempt by the bulls to test the level of 1900.00 USD, but the growth was not supported by large volumes, and after a local maximum around 1880.00 USD, the price rolled back to the POC line (1768.33 USD). If the bears push through this Volume Profile indicator line, then the pair will test the two-hour moving average EMA55.
If the Point Of Control line stops the onslaught of sellers, then on small volumes the price will resume sideways consolidation with support at 1800.00 USD.
XRP/USD
Ripple was trading at low volumes yesterday and buyers were unsuccessful in the XRP price recovery.
The bears broke through the four-hour EMA55 tonight and are trying to test the support of 0.450 USD. If the upper border of the blue channel cannot withstand the onslaught of sellers, the pair will return to a narrow sideways trend with support at 0.430 USD.
At the same time, low selling volumes will help ease the bearish onslaught and restore the pair above average prices.
- The given material for orientation objectives!
- I shall forgive for my English - I use the translator!)
I wish you successful trading!
