ETH/USD Pair: There Could Be a Quick Rally; XRP/USD Pair: Buyers Focus on New Monthly High Over $0.20

News / 06.04.2020

ETH/USD Pair Analysis

In recent times, the ETH/USD pair tried again to surge past the barrier at $145 could not make it happen. The pair was able to form a swing high close to $146 and dipped beneath $142.

Nevertheless, both the main $140 support and 100 hourly SMA protected the dip. At the moment, the pair is on the way to the upside and is over $142.

A look at the pair’s hourly chart shows the surge over a key selling trend line with barrier close to $142. The pair revisited the barrier at $145 but was unable to move further.

An upsurge and close over the barrier at $145 could make the pair continue to the upside over $148. If it attains levels over the barrier at $150, the pair could attain $155 and $158 soon.

A look at the downside shows that the pair could stay over the $140 support zone and the 100 hourly SMA. The pair’s failure to remain over $140 support could initiate an awful fall.

The immediate support is close to $135, beneath which the pair is at risk of a more downward move towards the key $124 support area.

XRP/USD Pair Analysis

The XRP/USD pair formed a support base over $0.1620 before it started rising slowly and steadily. The pair was able to break the barriers at $0.1700 and $0.1720 for entry into a positive area.

The pair continued over the $0.1800 barrier thereby settling over the 100 SMA. Nevertheless, the pair’s buyers encountered a powerful barrier close to $0.1870 and $0.1880.

Within the previous 10 days, the pair attempted an upsurge over the hurdle at $0.1870 twice, but the buyers could not secure momentum. Recently, it formed a high close to $0.1869 prior to retracement to the downside.

A look at the pair’s 4-hour chart shows support at $0.1780 and $0.1770 on the downside. An important observation is the formation of a key bullish trend line with support close to $0.1770.

A look at the upside shows that the pair need to surge past barriers at $0.1870 and $0.1880 for the beginning of a robust upsurge. The immediate key barrier is close to $0.2000, over which the pair may surge past $0.2020 in the near term.

A look at the downside shows the formation of a key support close to $0.1770 and the trend line. A break of the trend line might lead to more downside to $0.1720 support.

The key support is close to $0.1700 and the 100 SMA, beneath which the buyers could be overtaken and the possibility of a change in trend to the downside is high.

Source: Cryptopress.

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Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.