Yesterday, buyers were able to break through the 2-hour EMA55 resistance and restore the bitcoin price above the POC line. The volumes decreased tonight, but the price continued to rise and came close to the 61.8% fibo level (47745.68 USD).
It should be noted that the daily trading volumes were at an average level, and if the bulls manage to increase the volumes, they will be able to break through the 61.8% Fibonacci resistance.
If sellers form a bearish momentum in this area, then the pair will roll back to the support of 46000.00 USD.
ETH / USD
Yesterday morning, Ethereum price was able to recover above the 2-hour moving average EMA55. After lunch, the recovery continued at medium volumes and in the evening buyers tested the green level of 3400.00 USD. The couple overcame it tonight and are trying to find support in the area.
If the bears push back the ether price lower, then the pair will return to the area of average prices. We believe that the moving average can limit the bearish onslaught and stop the pullback.
If our forecast turns out to be correct and the market manages to keep above the level of average prices, then in the second half of the week the growth will continue to the area of 3600.00 USD.
The XRP / USD pair slowly recovered to the mid-range yesterday. Buyers formed a weak bullish momentum tonight and were able to break slightly above the EMA55. Until the morning, the price had not yet had time to test the level of the weekly high of 1.100 USD.
If sellers put up resistance here, then the price will roll back below the moving average EMA55.
Strengthening the bullish onslaught will lead to a retest of the POC line (1.119 USD).
* All prices are based on BitStamp data
Stay in touch! Subscribe to World Stock Market in Telegram.