Brussel, Europe Brief News – Bitcoin price has gone through its 50-day simple moving average (SMA) setting up a higher high at $45,956. This act has depleted the bullish momentum and is currently experiencing a retracement.
If bitcoin experiences a drastic change to get to its higher low, it will certainly set the stage for bullish push. The daily demand zone extended from $36,398 to $38,895.
There are high chances for bitcoin to experience a high low at that zone and investors can anticipate the big crypto to see a reversal around this area.
BTC/USD- 1day chart
On the other hand, if bitcoin price generates a daily candlestick near $36,398, it will easily break the demand zone and take price to as low as $34,752.
Ethereum price discover a support level
Ethereum price made a recovery with a fat margin of 41% in the last two weeks to set the lower high at $3,284. It experiences a 10% downswing before facing rejection by the SMA and falls to the support level of $2,823.
Investors can estimate ETH to go below this obstacle until a directional bias is established. Bulls will be in the driving seat as long as the smart contract token stays more than a weekly support level at $2,324.
ETH/USD 1-day chart
If Ethereum price produces a daily candlestick close below $2,324, it will make a lower low and expect the continuation to downward since November 10,2021. If this happens, ETH will be able revisit $1,730 and gather the liquidity staying below.
Ripple price stay in balance
Ripple price blew up to $0.911 after it crashed out of its two week consolidation. This 55% ascent has reversed by almost half , dropping back to the 50% retracement level at $0.731 but still failing to describe the buyers are still in control.
If ripple price retraces lower, the daily demand zone will stretch from $0.595 to $0.632 and certainly absorb the income selling pressure. If the buying pressure continues to build up, XRP price will revisit the $1 psychological level.
XRP-USD 1-day chart
A daily candlestick close below $0.546 will produce a lower low contradict the bullish thesis.
