XRP/USD & ETC/USD Analysis
XRP/USD
Sellers tried to continue to fall during this time. However, at the moment, the price is in consolidation. Though sellers strike the bottom trend line of the triangle, which I wrote yesterday, the price does not fall rapidly as it happens in such cases. Also, I do not see abnormal volumes of buyers who panickly would sell this coin. On a daily timetable it is clear that the price is paused and is preparing for a rebound:
Based on these facts, I conclude that the sellers have no strength to continue the long fall and soon will rebound up.
Buyers are trying to increase their margin positions, but the trend is very weak:
Marginal positions of sellers are consolidated on December 26th:
Now the price is above the critical point of $ 0.275-0.283. If buyers do not keep this price zone – the fall can accelerate with the ultimate goal of $ 0.15. However, this is still an alternative scenario. This script requires larger volumes for merchants:
Therefore, the main scenario – a rebound from $ 0.28 remains key. The critical point in this scenario is $ 0.345.
ETC/USD
The price is traded near the bottom of the trend line of the falling channel. I do not like that buyers do not show interest in the price zone of $ 3.9-4. At the moment, it’s more likely for me to continue falling to 3.7 than to start growing. I have the impression that the cryptocurrency has been forgotten and it has stopped interested in people. At such low prices there is no active buying. I’m waiting for when it comes to volumes. but for now consolidation will continue.
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This is not financial advice. I don’t take into account of your personal investment objectives, specific investment goals, specific needs or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. The information and publications are not intended to be and do not constitute financial advice, investment advice, trading advice or any other advice or recommendation. Any expression of opinion (which may be subject to change without notice) is personal to the author and the author makes no guarantee of any sort regarding accuracy or completeness of any information or analysis supplied.
