ETH/USD Pair Price Analysis

In the previous day, the ETH/USD pair tried severally to surge above the barrier zone at $160. The pair could not secure bullish momentum over $160 and began a steep fall.

The pair broke below the major $155 support and the 100 hourly SMA. A look at the pair’s hourly chart shows a surge beneath a key contracting triangle with support close to $155.

The pair was able to trade beneath $148 swing low and visited the major $145 support zone. It was able to form a fresh weekly low close to $146 and it is now retracing higher.

The pair surged over $150 to initiate a modest recovery. A look at the upside shows the formation of a robust barrier close to $155 and the 100 hourly SMA, which is the latest breakdown area.

The ETH/USD pair needs to surge above $155 barrier and also retry a move above the major $160 barrier in the sessions ahead to return into a positive area.

A look at the downside shows the formation of a decisive support close to $145. The buyers’ failure to maintain price levels over $145 support poses a risk of a steep fall.

The immediate support beneath $145 is close to $136, beneath which the pair could even fall towards $124 support in the near-term.

XRP/USD Pair Price Analysis

In our analysis yesterday, we mentioned that the support zone between $0.1800 and $0.1810 is important for XRP/USD pair. The pair could not continue to the upside over $0.1900 barrier and in recent times fell steeply beneath the support zone.

The sellers were in charge, thereby making the pair to close under $0.1800 and the 100 hourly SMA. The pair attained price levels beneath $0.1750 to form a fresh weekly low at $0.1738.

The pair is now retracing higher and moving above $0.1750. It appears that the $0.1800 zone is now a barrier for the buyers.

The major barrier is close to $0.1810 and $0.1820 which is the latest breakdown area.

A look at the pair’s hourly chart shows the formation of a major declining trend line with barrier close to $0.1815. The pair’s ability to retrace further higher could make it encounter a robust barrier close to $0.1810 and $0.1820 in the near-term.

If it closes over $0.1810 and $0.1820, it could pave the way for a new upsurge towards $0.1900 and $0.1920 barrier. The pair’s struggle for a recovery over the barrier at $0.1810 and $0.1820 could make it resume its decline. The first support is close to $0.1740.

If the pair surges beneath $0.1740 support, it could pave the way for additional downsides towards $0.1700 and $0.1680 in the near-term.

Featured Image Courtesy of Shutterstock