Yesterday, buyers remained active and the price of bitcoin continued to rise. During the day, the pair broke through the psychological level of 50,000.00 USD, and at the end of the day, a new bullish momentum pushed the price of BTC up to 52,000.00 USD.
A new October high was recorded at night around the level of 51915.00 USD. Despite the fact that the volume of purchases has decreased this morning, the price has held above the fifty thousandth barrier and may continue to rise to the orange resistance of 53,400.00 USD.
However, one should not forget that Stoch RSI indicator lines go off scale in the overbought zone on the daily time frame. Therefore, you need to be prepared for a sharp correction of the pair to the area of the 61.8% Fibonacci level.
ETH / USD
Yesterday in the morning, there was no bearish pressure and the price of Ethereum followed the cryptocurrency flagship to the resistance at 3500.00 USD. Late night, weak bullish momentum pierced this resistance and marked a monthly high around 3550.00 USD.
As of this morning, the price has slowly rolled back below the level of 3500.00 USD. If Bitcoin continues to pull the market up, then it is possible that the price of ETH will update the October high in the area of 3630.00 USD.
However, given the overbought market, we believe that a decline to 3400.00 USD will begin soon. If this green support does not stop the pullback, then a return to the level of 3200.00 USD should be expected in the near future.
XRP price yesterday failed to update its October high.
Tonight, the pair recovered closely to the monthly high at 1.089 USD, but failed to continue its growth.
A weak correction is being observed this morning, which may continue to the support of 1.030 USD. If the bears break it, the market will drop below the psychological level of 1.00 USD.
* All prices are based on BitStamp data
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