BTC/USD Pair Price Analysis

The BTC/USD pair began a downside retracement from the $7,447 monthly high. It was able to test the major demand area between $7k and $7.1k and in recent times returned to the upside.

The pair incurred a notable upsurge yesterday over two barrier levels ($7k and $7.2k). It surged past $7.4k, but was impossible over $7.5k.

It broke $7.2k support zone but the buyers protected the demand area between $7k and $7.1k and stayed over the 100 hourly SMA.

It has returned to the upside over $7.2k. On the pair’s hourly chart, there is the formation of a key buying trend line with support close to $7.2k.

A surge over $7.4k could lead to $7,447 high. The next barrier is close to $7.5k, over which it may attain $7.8k and $8k barrier levels.

A look at the downside shows several supports, starting with $7.2k. There is likelihood of the pair to stay over $7.2k and $7.1k in the near term.

The key support is currently coming up close to $7,080, beneath which sellers could focus on testing $7k support and the 100 hourly simple moving average. Any additional declines could take the pair to the $6.9k breakout area.

XRP/USD Pair Price Analysis

The XRP/USD pair began a downside retracement from the $0.2050 barrier. It was able to test the $0.1900 support zone and it is now moving towards $0.2000.

The pair rose strongly in the previous day over hurdles at $0.1880 and $0.1950. The pair surged past $0.2000, but not over the $0.2025 hurdle zone.

Twice, the bulls tried to take the pair over $0.2050 resistance, but failed thereby leading to a downside retracement from the $0.2055 swing high. The pair moved beneath the $0.2000 support zone, but not below the 100 hourly SMA.

The pair’s hourly chart shows the formation of a main barrier close to $0.2000 level. Besides, there is the formation of a main declining trend line with barrier close to $0.2000.

If the pair closes over the $0.2000 resistance (daily), there may be a huge upsurge. The immediate barrier is close to $0.2050, over which the buyers could focus on two levels ($0.2120 and $0.2150).

If the pair strives to surge over the $0.2000 barrier, there could be lower correction. The first support is close to $0.1920. The key support area is close to $0.1900 and $0.1880.

The 100 hourly simple moving average is close to $0.1880 to offer support. A daily close beneath the $0.1880 support may bring on more dips soon.