Yesterday, buyers were able to form a fairly strong bullish momentum and repeat the breakout of the resistance of 10500.00 USD. This morning the price has already pierced the resistance of 10800.00 USD.
On the daily time frame, the moving average EMA55 passes in this area. If today the bulls manage to overcome it and continue the recovery, then the price may test the level of 11200.00 USD.
If sellers reverse the pair around the daily EMA55, we hope that such a pullback will stop the level of 10500.00 USD.
Yesterday, Ethereum buying volumes exceeded average and during the day, buyers retraced the Ethereum price from the 2-hour EMA55 to an uptrend. In the morning, the volumes decreased, therefore, it was not possible to overcome the green trend line yet.
If buyers continue the bullish onslaught, then they can test the target level of 400.00 USD and gain a foothold in the green upward channel.
If the resistance of the lower border of the channel reverses the price downward, then with low market activity, the pair may hold at the level of 360.00 USD, and with a jump in volatility, the decline may reach support of 320.00 USD.
Yesterday, buyers were able to continue recovering from the level of average prices and came close to the resistance of 0.250 USD. On the daily timeframe, the Stoch RSI indicator lines show the potential for the continuation of the recovery to the 0.265 USD area, so the probability of a breakout of the 0.250 USD level is still relevant.
However, while we do not see a major buyer who could continue this rise, and if the pair fails to gain a foothold above the 0.250 USD mark, then the XRP price will roll back to the 0.230 USD support.
In case of strong bearish momentum, sellers can break through the September lows level and renew it in the support area of 0.213 USD.
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I wish you successful trading!