Yesterday in the morning the bears tried to push the bitcoin price back to the 78.6% fibo level (55287.64 USD). However, sales volumes were below average and buyers did not allow the price to consolidate below 56,000.00 USD.
In the afternoon, the price recovered to the 2-hour EMA55, and broke through to the resistance of 58000.00 USD tonight. It should be noted that the growth was not supported by large buying volumes at night. If during the day the bulls can form an impulse, then the pair will continue to recover to the psychological level of 60,000.00 USD.
If it is not possible to gain a foothold above the level of average prices, then the bears will break through the support of 78.6% fibonacci.
ETH / USD
Yesterday morning, buyers kept the Ethereum price above the average price level, but it did not work to break through the resistance of 4300.00 USD. In the second half of the day, sellers rolled back the ether price to the POC line (4197.94 USD), but the bears’ efforts were not enough to break through this Volume Profile indicator line.
By the end of yesterday, the pair returned to the average price area, and broke through the resistance of 4300.00 USD tonight. If buyers manage to gain a foothold above this green level, then the recovery will continue to the area of 4500.00 USD.
Yesterday morning, the bulls failed to break through the two-hour EMA55, and the pair continued to decline to the psychological level of 1.00 USD. In the afternoon, XRP price renewed its November low at USD 1.007, but buyers did not give the bears an opportunity to test the green support at USD 1.000.
The volume of purchases was below the average level tonight, however, in the morning the pair was able to recover to the area of average prices. As you can see, the moving average EMA55, as before, keeps the Ripple price in a local down trend. This could lead to a decline towards the support area of 0.960 USD.
On the other hand, a break above the average price level will give impetus to a recovery towards the 1.100 USD resistance.
* All prices are based on BitStamp data
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