Analysis of cryptocurrency pairs
BTC / USD, ETH / USD and XRP / USD on 04/18/2020
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| Analysis of cryptocurrency pairs BTC USD, ETH USD and XRP USD on 04182020 |
Yesterday, the pair fixed above the average price level. Until the end of this week, a new April maximum is possible. Yesterday, trading was calm, at lower volumes. The level of 23.6% fibo (7026.60 USD) acted as support for the price of Bitcoin. During the day, sellers pierced this support, but it was not possible to sell the price below seven thousand.
The BTC / USD pair consolidated in a narrow lateral range, and on small timeframes the Stoch RSI indicator lines slightly relieved the overbought zone. Now, buyers could continue to restore prices to the area of 7300.00 USD. If the bulls try to organize a powerful bullish break, it will be limited to a narrow area of resistance at the level of 7600.00 USD.
If the price of bitcoin from narrow consolidation rolls back below the two-hour EMA55, then the POC line (6653.65 USD) can stop the bears' efforts. Yesterday, the 61.8% fibonacci level kept the ETH / USD pair in lateral consolidation. During the day, buyers were able to test the green trend line, but trading volumes were below average and the pair was trading in a narrow range until the end of the day.
Tonight, buyers again tested the green trend line for strength, but they still have not been able to gain a foothold in the upward channel. If buyers manage to increase volumes, then they could break through the resistance of the rising trend line and test the 78.6% Fibo level (192.57 USD) by the end of the week.
If the bears sell the level of average prices, then the price may fall back to support the fifty percent level of fibonacci. The two-hour EMA55 kept the pair from falling, and buyers could not break the purple line, which connects the falling highs that have been lining up from last week.
We believe that by the end of the week the bulls will be able to overcome this two-week downward resistance line and test the level of 0.213 USD.
On the other hand, if buyers do not take active action, then the bears can push the support of the moving average and roll back the pair to the area of 0.170 USD.
All prices are based on BitStamp exchange data.
The BTC / USD pair consolidated in a narrow lateral range, and on small timeframes the Stoch RSI indicator lines slightly relieved the overbought zone. Now, buyers could continue to restore prices to the area of 7300.00 USD. If the bulls try to organize a powerful bullish break, it will be limited to a narrow area of resistance at the level of 7600.00 USD.
If the price of bitcoin from narrow consolidation rolls back below the two-hour EMA55, then the POC line (6653.65 USD) can stop the bears' efforts. Yesterday, the 61.8% fibonacci level kept the ETH / USD pair in lateral consolidation. During the day, buyers were able to test the green trend line, but trading volumes were below average and the pair was trading in a narrow range until the end of the day.
Tonight, buyers again tested the green trend line for strength, but they still have not been able to gain a foothold in the upward channel. If buyers manage to increase volumes, then they could break through the resistance of the rising trend line and test the 78.6% Fibo level (192.57 USD) by the end of the week.
If the bears sell the level of average prices, then the price may fall back to support the fifty percent level of fibonacci. The two-hour EMA55 kept the pair from falling, and buyers could not break the purple line, which connects the falling highs that have been lining up from last week.
We believe that by the end of the week the bulls will be able to overcome this two-week downward resistance line and test the level of 0.213 USD.
On the other hand, if buyers do not take active action, then the bears can push the support of the moving average and roll back the pair to the area of 0.170 USD.
All prices are based on BitStamp exchange data.