Yesterday, trading volumes were at an average level and the price of bitcoin continued its slow growth towards the resistance of 58000.00 USD. At the end of the day, the pair renewed a monthly high around the 57855.00 USD mark.
Over the past night, there was a pullback from the maximum zone to the level of 56500.00 USD. We believe that the decline will stop around 56000.00 USD and the bulls will try to storm the resistance of 58000.00 USD by storm.
If buyers fail to seize the initiative, the price may return to the 78.6% fibo level (55288.19 USD).
ETH / USD
Yesterday in the morning, the Ethereum price recovered above the level of 3600.00 USD, but it did not work to stay above this level.
In the evening, the volume of purchases decreased below the average level and until this morning the price of ether has rolled back to the area of 3450.00 USD. During the day, the decline will continue to the four-hour moving average EMA55 (in the area of 3250.00 USD).
Yesterday morning, buyers were in a positional struggle at the level of 1.150 USD, and in the first half of the day they managed to achieve growth in the area of 1.180 USD.
But this growth was not supported by large volumes, so sellers were able to push the pair out of the local maximum zone, and in the afternoon they continued to decline to the POC indicator line (1.073 USD).
We believe that today in the Point Of Control area (1.073 USD) the decline will slow down and the pair is consolidating in a sideways range.
* All prices are based on BitStamp data
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