Buyers are stuck in the area of average prices and cannot yet continue their recovery, and at the end of the current week there is a high probability of a resumption of the bearish onslaught.
BTC/USD
Yesterday, buyers tried to seize the initiative and restored the pair to the two-hour EMA55 area. In the evening, the price of BTC overcame the moving average resistance, and late at night tried to gain a foothold in the blue corridor.
However, until this morning the volume of purchases has decreased, and the pair cannot stay above the lower limit of the blue range. While the moving average EMA55 acts as weak support, buyers will continue to probe weaknesses at the lower border of the sideways range.
If the bears push the pair below the average price level, then everything will return to the support of 32500.00 USD. At the end of the week, bearish pressure may increase, and then the price of Bitcoin will roll back to the 23.6% fib area (30595.44 USD).
ETH/USD
Yesterday morning, trading volumes on Ethereum fell below the average level. There was no pressure from the bears and the pair tried to recover to the area of average prices. However, small volumes of purchases did not allow the pair to test the two-hour EMA55.
As of this morning, the price of ether has rolled back to the area around 2100.00 USD, and as the bearish pressure intensifies, the fall will continue below the psychological level of 2000.00 USD.
XRP/USD
Yesterday, the XRP price tried to recover to the two-hour EMA55. Purchase volumes increased slightly, but did not exceed the average level, so the pair was unable to break above the moving average EMA55.
If buyers are able to intensify attacks on the average price level, then a breakthrough to the resistance of 0.700 USD is possible.
On the other hand, by the end of this week the bears may resume pressure and the price of XRP will update the July minimum in the area of $0.560 - $0.550.
*All price values are based on data from the BitStamp exchange
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