Yesterday the market showed signs of recovery. Will the bulls be able to continue rising today?
BTC/USD
Yesterday morning the price of Bitcoin recovered to the fifty percent fibonacci level (42447.96 USD) and during the day buyers tried to break higher. It was not possible to do this on small volumes.
Only in the afternoon, when buyers were able to form an average strength bullish impulse, the BTC price broke through the 50% fibo (42447.96 USD) and at the end of the day marked the daily maximum around 44030.00 USD.
At night, purchase volumes decreased, and the pair consolidated in a sideways range, and as of this morning it has returned to the zone of yesterday's maximum.
If buyers maintain the initiative, the price recovery will continue to the area of 45000.00 USD and before the weekend the pair will test the resistance of 46000.00 USD.
If today there is no support from large buyers, the pair will sink to the 50% fib level (42447.96 USD).
ETH/USD
Yesterday morning, on small volumes, the price of Ethereum recovered above 2800.00 USD. During the day, the recovery continued and by the end of the day the pair consolidated in a sideways range with support at the psychological level of 3000.00 USD.
At night, the already low volumes of purchases fell even further, but as of this morning the pair was able to come close to the level of 3100.00 USD. If large volumes of buyers are included in the trading, the growth may continue towards the resistance of 3200.00 USD.
On small volumes, sellers can easily seize the initiative and return the pair to the support of 2800.00 USD.
XRP/USD
Yesterday morning there was no pressure from the bears and the XRP price was able to consolidate above the support of 0.900 USD.
In the second half of the day, the growth of the cryptocurrency flagship pulled up the prices of altcoins and the XRP/USD pair recovered to the area of average prices, and at night it tried to stay above the psychological level of 1.00 USD.
This morning the price of Ripple remains at one dollar per coin. If the bulls fail to continue recovery in the first half of the day, the pair will roll back to the 0.960 USD area. And in case of positive sentiment among market participants, the price may consolidate above the level of 1.050 USD.
*All price values are based on data from the BitStamp exchange
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