Ethereum Price Moving Towards a Major Resistance; XRP May Retrace To $0.165
ETH/USD Pair Price Analysis
The pair continued beneath $150 and established itself beneath the 100 hourly SMA, thereby attaining a fresh monthly low at $148.
It started retracing after it broke the barrier at $152. Nevertheless, it is currently encountering some barriers close to area between $156 and $157.
On the pair’s hourly chart, there are two active declining trend lines with barrier close to $160 and $164.
If the pair surges over the 100 hourly simple moving average it could visit the upper trend line. If it closes over the barriers at $164 and $165, it will provide a clear direction.
The immediate major barrier is close to $175 and any additional gains might lead to $185 and $188.
The pair’s failure to move over the 100 hourly simple moving average or the barrier at $160 poses the risk of a new declining reaction. The first support is close to $152 and a connecting bullish trend line.
There is the formation of a major support close to $145 zone. The buyers’ failure to hold the $145 support zone poses the risk of additional losses towards $132 and $130.
XRP/USD Pair Price Analysis
The pair’s hourly chart shows the formation of a modest support base over $0.1820 and $0.1840. Nevertheless, the pair is currently encountering a robust barrier close to $0.1890 and the 100 hourly SMA.
On the same chart, there is the formation of a major connecting declining trend line with barrier close to $0.1890. The pair could strive close to $0.1890 and $0.1900 in the near-term.
The buyers need to secure momentum over the $0.1920 to enter a positive area. The immediate major barrier is close to the $0.1965 swing high, over which there could be acceleration towards $0.2000.
The pair’s failure to move over the 100 hourly simple moving average or the $0.1900 barrier poses the risk of a new decline in the sessions ahead.
The first support on the downside is close to $0.1850. The key support is close to $0.1810 and $0.1800, beneath which the sellers could focus on testing $0.1650 in the near-term.