Yesterday the bears managed to push through the level of average prices and in the afternoon the pair rolled back below the purple support of 22400.00 USD. The daily lows were marked by the sellers in the area of ??21865.00 USD, while the buyers rushed to restore the pair to the hourly EMA55 by the end of the day.
It has not yet been possible to break above the average price level, and now the BTC price is stuck between the resistance in the form of the EMA55 moving average and the weak purple support.
At low volumes, the pair will remain “suspended” in the side corridor, but the pressure of sellers may increase, and then the price will sink to the area of ??the 21,000.00 USD mark.
ETH/USD
Buyers were unable to break through the hourly moving average EMA55 yesterday morning. In the area of ??average prices, sellers intensified the onslaught, and a strong bearish momentum broke through the support of 620.00 USD and set a minimum at 595.00 USD.
Buyers immediately tried to rectify the situation and restore the pair above the 600.00 USD mark. Until this morning, the price managed to stabilize sideways between the support of 600.00 USD and the level of 620.00 USD, which now acts as a resistance.
Today the range of consolidation may narrow, but if large sales resume, the decline will continue to the support area of ??580.00 USD.
XRP/USD
Yesterday, bearish pressure intensified and the psychological level of 0.500 USD could not keep the price of Ripple from falling towards the support of 0.480 USD.
The pullback of the pair stopped at the point 0.476 USD and until the morning the price stabilized in the short-term sideways. However, today the decline may continue to the area of the December minimum of 0.437 USD.
If the trading volume does not exceed the average level, the decline will be limited to the support of 0.460 USD.
- The given material for orientation objectives!
- I shall forgive for my English - I use the translator!)
I wish you successful trading!
