Risks of Bounce Increase for Ethereum; XRP is at Risk of a Huge Decline

News / 13.04.2020

ETH/USD Pair Analysis

In recent times, the ETH/USD pair began a modest upsurge from the $150 support zone. The pair surged higher over the barriers at $155 and $160.

A look at the pair’s hourly chart shows the formation of two major declining trend lines with barrier close to $161 and $165.

The pair was able to form a swing high close to $163 and the pair fell heavily. The latest fall led to a break of the $150 support and the pair attained a fresh monthly low at $148.

The next barrier on the upside is close to an area between $154 and $155. The key barrier remains close to $162 and the 100 hourly SMA.

If the pair closes over $162 barrier area, there will be a powerful upsurge in the sessions ahead. The immediate key barrier is observed close to $168 and $170.

They key support on the downside is waiting close to $145 zone. The occurrence of a declining break beneath the$145 support could take the pair towards $120.

On the contrary, it is possible for the buyers to focus on a powerful recovery wave over $162 if the pair does not move below $145.

XRP/USD Pair Analysis

The XRP/USD pair broke the $0.1920 barrier and tried to surge over the $0.1980 barrier zone, but could not make it happen.

It was able to break a major support at $0.1900 to enter a declining area. The pair’s sellers pushed to it beneath the $0.1880 pivot and the 100 hourly SMA.

A look at the pair’s hourly chart shows a break under a key ascending channel with support close to $0.1900. It was able to break the last swing low close to $0.1820 and attained a fresh weekly low at $0.1812.

The pair is now into consolidation of losses over the $0.1812 low. The first barrier is close to $0.1850.

The initial key barrier is close to $0.1880, and then $0.1900. If the pair closes over $0.1900, it could take the pair towards the 100 hourly SMA. Any additional upsides could bring on more chances an upsurge over the $0.2000 barrier.

A look at the downside shows the first support close to $0.1810 and $0.1800. If the pair is unable to recover over barriers at $0.1850 and $0.1880, it could lead to more downsides.

If the pair surges beneath $0.1800 support zone, it could lead to support levels at $0.1720 and $0.1680 in the near-term.

Featured image courtesy of Shutterstock. Source: Cryptopress.

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A creative writer in the field of content writing for the past 7 years. Iulian is passionate about his work and his interest in areas such as technology, travel, sports, literature and gastronomy have aided him to the research quality in articles that reflect these themes. Recently, he discovered the Bitcoin and the blockchain technology and he’s a big fan now.