The BTC/USD conquers the EMA50 and saves the first Match Ball.
ETH/USD and XRP/USD fall short in their attempt and now wait for a second wave to hit the target .
The Crypto market saw 12B/$ in new investments yesterday after some positive market commentaries. This money inflow arrives at the right time to help the main Cryptocurrencies to abandon the critical levels they reached last week.
Now, Bitcoin has a unique opportunity to return to form and lead the charge.
BTC/USD 240 Min
The BTC/USD is quoting now at $6,705, slightly above the EMA50 and well positioned to move upwards if Crypto investors feel that the “Long” is gone.
Upwards, next target by price congestion at $6,850 from where it could have an opportunity to reach the SMA100 into the $7,050- $7,000 area. Right above this level, it waits for another price action significant level at $7,100.
For the bear side, if BTC/USD loses the EMA50 support, it will quickly be back to the $6,600 range before retesting the $6,400 as the last chance before entering into a full bearish scenario.
The MACD at 240-Min chart is moving above the zero line but needs to gain height to attract more favorable returns. The typical behavior pattern for this setup tells us to look for a sideline development in the short term.
The Directional Movement Index at the 240-Min chart shows us how the buyers are now in control and have also conquered the ADX line. It is a traditional pattern that adds probabilities for a continuation of the upward movement.
ETH/USD 240 Min
The ETH/USD spent the Asian session above the EMA50 but below the upper trend line of the bearish channel. Today, Ethereum is breaking it up at the opening of the European session. It does not have an easy scenario ahead, due to a price congestion resistance tagged to the breaking point at $520 that should break higher to get options to assault the SMA100 at $545. If all of these prerequisites were gone, the price congestion level at $565 would be an excellent target for a first swing.
The MACD at 240-Min chart shows us a profile quite similar to the BTC/USD, perhaps with less of an upward slope, but that will be enough to follow the market upside momentum.
The Directional Movement Index at the 240-Min chart shows how the buyers have taken control and surpassed the ADX, which would also help to add support to the uptrend. Sellers are withdrawing, but they are still above the 20 level, waiting for a trend confirmation before retiring further.
XRP/USD 240 Min
XRP/USD did not conquer the EMA50 yesterday, although it was able to break up the bearish trend, which leads the downtrend from highs. Today, Ripple has not achieved yet the exponential average, which is moving around $0,55, slightly above a price congestion level placed at $0,54. Further above, a critical price level at $0,584 awaits, and that would be the right place to rest before further advances.
On the sell side, XRP/USD has no ground until the $0,52 level, the primary target, leaving the $0,50 level as the “red thin line” to look.
The MACD at 240-Min chart shows us a less developed indicator, still below the zero line. Its Crypto counterparts could favor this technical setup if the uptrend consolidates, but that could bring some headwinds if markets turn back down again.
The Directional Movement Index at 240 Min shows us a dead heat between buyers and sellers that should bring a "tie-breaker" it in the next hours. The ADX is far above, so if Ripple wants to have its invitation to a possible bull party, it should find an afterburn output system which moves it faster upwards.
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