Ethereum is Ready For an Upsurge Towards $220; Ripple (XRP) at the Upside
ETH/USD Pair Price Analysis
Over the previous few sessions, the ETH/USD pair has been performing within a wide range over $190. The pair tried severally to surge under the supports at $190 and $188, but could not make it happen.
The pair was able to form the recent swing low close to $188 prior to regaining bullish momentum. It surged over $190 and the 100 hourly SMA. The buyers took the pair above the $195 barrier for a change in trend.
Further, the pair’s hourly chart revealed a break over a major contracting triangle with barrier close to $197.
The pair is currently close to $200 barrier and trying an upside break. The buyers’ ability to secure strength could make the pair to keep up the upside move. The next barrier is close to $208.
Any additional gains over $208 may take the pair towards the immediate key barrier close to $220 in the near term. The intermediate barrier could be at $212.
If the pair keeps struggling close to $200 barrier, there may be a downside retracement. The first support is close to $195 and the triangle lower trend line.
The immediate major support is close to $193 and the 100 hourly simple moving average. The sellers need to take the pair beneath $190 and $188 for a remarkable decline.
XRP/USD Pair Price Analysis
Over the previous few days, the XRP/USD pair tried severally to surge over the barrier at $0.2000. The pair was able to form a robust support base over $0.1920 and eventually rose over the $0.2000 barrier as discussed yesterday.
The pair’s hourly chart revealed that it was able to breach a major contracting triangle with barrier close to $0.2020 to initiate the latest rally. The pair was able to break numerous barriers on the way to the upside, as well as $0.2120 to settle well over the 100 hourly SMA.
BTC/USD pair is coming up with the same pattern and may surge above the $8k barrier. The pair attained a fresh monthly high at $0.2185 and it is now consolidating gains.
The initial major support is close to $0.2120 and $0.2110. There is the formation of a main uptrend support close to $0.2100, which is the latest breakout area. Any additional declines could bring about further losses towards $0.2000 pivot level ahead.
It is clear that the pair is retracing lower from the $0.2185 high. Nevertheless, the pair is well supported close to $0.2120.
The first barriers on the upside are 0.2175 and $0.2180. The main barrier is close to $0.2200, over which the bulls could focus on another upsurge.
Featured image courtesy of Shutterstock. Source: Cryptopress.