The price of Ethereum breaks a historical record and updates its absolute maximum at the point of 4400.00 USD. Will the bulls be able to continue their run today?
BTC/USD
Yesterday morning, the bears failed to push through the support of 58000.00 USD, and the price of Bitcoin gradually recovered above the psychological level of 60000.00 USD.
In the second half of the day, the pair tried to consolidate above the four-hour moving average EMA55, but at some point a powerful bearish impulse broke through the support of 58000.00 USD and fixed the daily low at 56425.00 USD. The bulls quickly bought back the entire volume and restored the pair to the average price area. After such a severe price surge, volatility began to fade and in the morning the pair consolidated around the 61500.00 USD mark.
Today, after a slight pullback, we can expect continued recovery to the area of 64000.00 USD, and at the end of this week there is a high probability of a breakout above the 100% fib level (64895.22 USD) to the absolute maximum zone.
ETH/USD
Yesterday morning the pair consolidated for a long time at the level of 4000.00 USD, and then buyers increased volumes and the price of Ethereum recovered to the resistance of 4200.00 USD.
In the second half of the day, the bulls broke through above this resistance and this morning the pair renewed its absolute maximum at 4400.00 USD.
Currently, the volume of purchases has decreased slightly and further growth has slowed down, but if during the day the bulls can increase their pressure, the race will continue to the area of 4500.00 USD.
XRP/USD
Yesterday morning, the support of 1.00 USD withstood the pressure of sellers and the pair consolidated above this psychological level. During the day, the price of XRP recovered to the area of average prices, but it has not yet been possible to break above the four-hour EMA55.
If positive sentiment prevails on the crypto market today, the recovery of the XRP/USD pair may continue to the area of 1.250 USD.
*All price values are based on data from the BitStamp exchange
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