BTC / USD
Yesterday morning, the correction of the BTC price took place at low volumes, and was within the support of 36300.00 USD. In the afternoon, the bulls resumed the race and by the evening they broke through the level of 40,000.00 USD, setting a historical maximum around the 40400.00 USD mark.
Yesterday, the cryptocurrency market capitalization exceeded one trillion dollars for the first time, with the Bitcoin market dominance index exceeding 70%.
By the end of the day, there was a strong bearish momentum, which forced the bitcoin price to test the morning support zone of 36300.00 USD, but the pair was able to recover quite quickly to the level of 40,000.00 USD.
Despite the fact that the sales volumes decreased, sellers dominated the market tonight, pushing the price back to the hourly moving average, which stopped the decline at the turn of 36600.00 USD. Early in the morning, buyers tried to retrace the price but ran into resistance at 38800.00 USD and it looks like they will have to start all over again, starting from the average price level.
At the moment, trading volumes have significantly decreased, and it is not yet clear whether the bulls will be able to return to the zone of the absolute maximum today, continuing the race. Most likely, at the end of this week, the market will move to consolidation in a sideways range between the support of EMA55 and the border of 40,000.00 USD.
ETH / USD
Yesterday morning, the Ethereum price held above 1150.00 USD, and during the day, buyers were able to come close to the level of 1300.00 USD, setting a new January high at 1291.00 USD.
In the high zone, sellers formed a bearish momentum, which knocked down the growing dynamics of the pair and pushed prices back to the hourly EMA55. Tonight, the bears managed to push through the average price level and set a local minimum at 1065.00 USD.
In the morning, the pair is trying to recover, but the resistance of the hourly EMA55 does not allow buyers to gain a foothold above the average price level on small volumes. If during the day the trading volumes remain at a low level, the pair will fight in a wide sideways range, which will narrow significantly by the end of the week.
XRP / USD
Yesterday, in the first half of the day, buyers consolidated above the 0.280 USD level and continued to rise to the 0.400 USD level. However, before the end of the day, the XRP price was unable to test this target mark, setting the daily high at 0.372 USD.
In the evening, a wave of sell-off swept through the market, forcing the XRP / USD pair to test the initial support of 0.280 USD. The recovery took place quite quickly, but on decreasing volumes, and now the pair is consolidating in the resistance area of ​​0.310 USD. It is still impossible to break through higher.
We believe that the rest of the week the pair will be in the sideways channel of $ 0.280 – $ 0.310.
* All prices are based on BitStamp dat
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