Top 3 Bitcoin, Ethereum and Ripple: Coming out of the woods to reconquer captured lands - Confluence Levels -
|- BTC/USD faces the strongest resistance in the segment at the $6,500 price level.
- ETH/USD moves into negative territory and seeks support at the $281 price level.
- XRP/USD strives to conquer the $0.3320 and secure significant support by looking to the immediate future.
A day of falls after the strategic climbs of the last sessions. The main protagonists of the Crypto board offered attractive prices last week and the market reacted with substantial purchases that set the traded volume at its highest level. Generally speaking, the most important confluence zones were reached, but since then there has been a loss of strength and some uneasiness with regard to the next sessions.
BTC/USD 1D
Above the current price, the main challenge for the BTC/USD is very close. Currently trading at $6,444, Bitcoin is only $50 below the most important technical confluence, formed by the convergence at the same point of different indicators, among others, the 38.2% daily and 23.6% weekly of Fibonacci or the S1 monthly and daily level of Pivot Point. If Bitcoin were to overcome this resistance level, the next hurdle would be the $6,650 price level where last week's high and the breakout level would await if BTC/USD were to seek higher levels.
Below the current price, the last support level within the confluence zone is at the price level of $6,300, where yesterday's low and Fibonacci's 38.2% weekly level put its strength at the service of price support.
Below this zone, the BTC/USD would find medium intensity support from the $6,200 price level where the 161.8% daily and 61.8% weekly Fibonacci retracements calculation system plus the S1 weekly, S3 daily and S2 daily Pivot Point levels add up their forces.
For the BTC/USD this price level would represent it´s last upwards chance, leaving only one level of hope at the $5,800 price level where Bitcoin left last week's lows and even month's lows.
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ETH/USD 1D
The ETH/USD, on the other hand, is quite far above the largest upward confluence zone, which is now resistance. Ethereum is currently trading at the $286 price level, so it needs more than 6% upward movement to reach the $300 price level and where it will be awaited, among other indicators, the 61.8% daily and weekly Fibonacci retracement level and the S3 monthly Pivot Point level. If Ethereum reached this level, it would be very well positioned to enjoy a relaxed bullish ride.
Below the current price, ETH/USD would be supported first of all in the confluence located at the $270 price level, where the sum of the S3 daily and S1 weekly Pivot Point levels plus 23.6% weekly Fibonacci retreats can be the last support level before rapidly plummeting to the $250 price level and entrust their future to the presence of the monthly and weekly lows.
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The XRP/USD, unlike its peers also analyzed today, is in the midst of both upward and downward forces.
Above the current price, Ripple should be clear on the levels to be conquered, starting with resistance at the $0.33 price level, which is formed by the confluence of, among others, the maximum of 4 hours, the 23.6% daily level, the 23.6% weekly level and the %61.8 daily Fibonacci level.
If this level is exceeded, the bullish target will move to the price level of $0.363, the confluence level formed by the daily R1 level and the weekly S2 level of Pivot Point among other indicators.
Below the current price level, the first significant support is at $0.322, formed by the daily S1 Pivot Point level or yesterday's low, among other indicators.
The limit for the XRP/USD at the bottom is at the price level of $0.295, a very strong support level where indicators as important as the 61.8% level converge in the daily and weekly time range of the Fibonacci Regression Indicator or the monthly S3 level of Pivot Point.
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