There was no strong selling pressure yesterday, and the price felt a weak support at the level of 11,600.00 USD. The pair managed to continue recovering, but buyers were not very active. All that we managed to achieve by the end of the day was to test the level of 11900.00 USD.
Sellers bounced back the day's recovery overnight and bitcoin price pulled back to almost the same weak support, but rising lows can be seen on the 2-hour timeframe.
The forecast for the renewal of the annual maximum in the area of 12,300.00 USD is still valid. If we manage to form a strong bullish momentum, then the pair will be able to cover the August 2019 high, which was set at 12325.00 USD.
ETH/USD
Ethereum trading volumes were below average yesterday and buyers failed to overcome the psychological barrier at around 400.00 USD.
At the end of the day, the two-hour EMA55 kept the price from a weak bearish momentum. It looks like attempts to break through the resistance of 400.00 USD will continue today and if buyers succeed, they will renew the annual high around 420.00 USD.
If sellers push through the level of average prices, then the nearest support may be the level of 360.00 USD.
Ethereum trading volumes were below average yesterday and buyers failed to overcome the psychological barrier at around 400.00 USD.
At the end of the day, the two-hour EMA55 kept the price from a weak bearish momentum. It looks like attempts to break through the resistance of 400.00 USD will continue today and if buyers succeed, they will renew the annual high around 420.00 USD.
If sellers push through the level of average prices, then the nearest support may be the level of 360.00 USD.
XRP/USD
Yesterday, in the first half of the day, the Ripple price balanced at around 0.300 USD. In the second half, buyers tried to continue the recovery, but they failed to gain a foothold above the 0.310 USD level.
We continue to hope for support from the 2-hour EMA55 and look forward to a renewed August high. If buyers are able to form a bullish momentum, then it will be possible to establish a new annual high in the 0.350 USD area.
Yesterday, in the first half of the day, the Ripple price balanced at around 0.300 USD. In the second half, buyers tried to continue the recovery, but they failed to gain a foothold above the 0.310 USD level.
We continue to hope for support from the 2-hour EMA55 and look forward to a renewed August high. If buyers are able to form a bullish momentum, then it will be possible to establish a new annual high in the 0.350 USD area.
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