ETH Could Incur a Rally While XRP is Ready for one

News / 15.04.2020

ETH/USD Pair Price Analysis

The ETH against the USD pair experienced a modest recovery over the barrier at $155 within the previous three sessions. The pair settled well over $155 pivot level as well as the 100 hourly SMA.

As it continued to the upside, it was able to test the initial major barrier close to $160. Nevertheless, a look at the pair’s hourly chart shows two active declining trend lines in the week with barrier close to $160 and $162. The initial trend line became a major hurdle and did not allow additional move to the upside over $160.

A look at the downside shows that the past barrier close to $155 and the 100 hourly SMA are now offering support.

The pair’s buyers need to attain price levels over the trend lines and $164 for the initiation of a powerful rally. If they succeed over $164 and $165 barrier levels, it could bring about a robust move to the upside. The immediate major barrier is seen close to $175 barrier level.

A look at the downside shows the formation of a critical support close to $155 and a connecting bullish trend line. The pair’s failure to sustain price levels over $155 and $154 support levels may take it to the downside.

The next support is close to $150 level, beneath which the sellers could focus on testing the $145 support zone in the sessions ahead.

XRP/USD Pair Price Analysis

The XRP against the USD pair tested the support zone between $0.1800 and $0.1810, before it began an upside retracement. The pair retraced over two barrier levels ($0.1840 and $0.1850) to enter into a short-term positive area.

The pair was able to close over $0.1850 as well as the 100 hourly SMA. Nevertheless, it appears that the pair is encountering a powerful barrier close to $0.1890 and $0.1900.

The pair is likewise striving to remain over the 100 hourly SMA at $0.1880. A look at the pair’s hourly chart shows the formation of a key contracting triangle with barrier close to $0.1890.

The pair’s buyers need to take it over the $0.1920 barrier level to initiate a powerful upward move. If successful, the pair could move higher to the $0.1980 and $0.2000 barrier levels in the near-term.

If the pair strives to secure momentum over the 100 hourly simple moving average or the $0.1900 barrier, the pair might initiate a new fall beneath $0.1860.

The first support on the downside is close to a connecting bullish trend line at $0.1850. If the pair moves beneath $0.1850 support level, it could initiate a remarkable fall towards $0.1810 and $0.1780.

Source: Cryptopress.

Holds a degree in BSc. Nursing from the University of Cape Coast, Ghana yet an addict to the blockchain technology and the cryptosphere. He combines the promotion of crypto projects and also the making of professional contents all to get innovative projects to the real world. He is a passionate Community manager and a Marketing Advisor for blockchain startups.