Ethereum Buyers Aim Higher; Ripple (XRP) Could Correct In Short-Term
ETH/USD Pair Price Analysis
Yesterday, we mentioned the need for the ETH/USD pair to surge over the 100 hourly SMA to incur a new rally. The pair did not move below $170 and was able to surge over the 100 hourly simple moving average.
The buyers took over thereby clearing some critical barriers close to $175 and $180. Further, a look at the hourly chart of the pair revealed that it was able to surge over a major bearish trend line with barrier close to $177. It was able to test the $185 barrier zone and it is now consolidating gains.
The first support is close to $180 on the downside. The initial key support is observed close to $178 area which is the recent breakout area as well as the 100 hourly simple moving area.
The main support is close to $175. Any additional declines could pave the way for a huge fall towards the $165 support area.
The pair is currently trading well in an uptrend over $180. A first barrier is close to $185 on the upside.
The initial major barrier is close to $190, over which the buyers could focus on testing $195 and $200 in the near-term.
XRP/USD Pair Price Analysis
The upside move led the pair to levels over $0.1850 barrier and the 100 hourly SMA. It paved the way for additional increase over $0.1880 barrier. Currently, it is trading over a major bearish trend line at $0.1880.
The buyers are striving to take the pair over the barrier zone between $0.1910 and $0.1920. At the moment, the pair is retracing lower beneath $0.1900 and visiting the 100 hourly simple moving average.
The pair’s hourly chart shows the formation of a robust support close to $0.1850. There is likewise the formation of a connecting bullish trend line with support close to $0.1850.
The failure to remain over the $0.1850 support zone could lead to a negative area. Any additional declines could call for a visit to $0.1800.
The pair is likely to stay over $0.1850 support and the trend line. The buyers need to secure momentum over $0.1900 and $0.1920 on the upside.
If successful, there are high chances of additional upsides to $0.1950. The main barrier is close to $0.2000 on the upside.
Featured image courtesy of Shutterstock. Source: Cryptopress.