Yesterday, in the morning, buyers increased their buying volumes, and the price of bitcoin quickly recovered from the area of ??average prices to the resistance of 18800.00 USD. The bulls finally managed to pass the zone of the annual high, set last weekend, and update the annual record to 19,416.00 USD.
In the evening, the trading volumes began to decline and the pair could not hold above the 19000.00 USD mark. As of this morning, the price of BTC has rolled back to the hourly moving average EMA55, which passes in the area of ??18800.00 USD. The sales volumes are small, and if the bulls can continue the rally in this area, then today a re-test of the 100% fibo level (19666.00 USD) is possible.
In this case, the historical maximum of the Bitcoin price will be set on the Bitstamp exchange, and if the bullish momentum is strong enough, the price will overstep the psychological mark of 20,000.00 USD, which has served as a beacon for market participants since December 2017.
If the bears push through the support of the average price level, then the pair may sink to the area of ??the 18000.00 USD mark.
ETH/USD
After a retest of the 620.00 USD level, the Ethereum price set a new annual high around the 624.00 USD mark and turned into a pullback.
The psychological level of 600.00 USD could not stop the decline. The bears pushed through this level, but as of this morning the trading volumes have decreased and the price is stuck in the area of more reliable support of 580.00 USD.
If the bears intensify the onslaught, then the decline may continue to the level of 550.00 USD.
XRP/USD
Yesterday morning, the bulls continued to drag the Ripple price into the area of a new high and recorded an annual record at around 0.790 USD.
The bears responded with large sales and reversed the price. At some point, they managed to pierce the support of 0.600 USD, but until this morning the pair managed to gain a foothold above this mark.
If the bulls resume active action, they will try to return the pair to the zone of the annual high and test the 0.800 USD mark.
If the bears push the support of 0.600 USD, then there is a possibility of a re-test of the psychological mark of 0.500 USD.
- The given material for orientation objectives!
- I shall forgive for my English - I use the translator!)
I wish you successful trading!
