Yesterday morning the price of BTC has continued a slow ascent and updated an annual maximum on a round mark 10500.00 USD. From this level began the sale, which brought the pair within the upward green channel.
Price reduction stopped a two-hour EMA55. After a local minimum around 10 068.00 USD buyers thought that will be able to easily return the price to previous levels in the area the annual maximum, but the bears did not stop major sales until the price has stabilized at the average level of prices.
Today, customers will continue a cautious attempt to test the level 10600.00 USD, but again they risk running into a barrage of sales.
If the consolidation at the level of the moving average is delayed, then a possible pullback below the psychological level of 10 000.00 USD, however, we continue to believe that before the end of this week customers will be able to test resistance 10600.00 USD.
Yesterday the bears pierced the lower boundary of the purple corridor 264.00 USD, but after a day of at least 255.24 USD, buyers were able to update the annual maximum at the point 278.31 USD.
When large trading volumes fell below average, a pair of ETH/USD settled in a sideways purple. If today the sellers will be able to beat the price of consolidation, the pair will stop two-hour moving average EMA55.
Yesterday after a night of high the sellers pushed the price to the upper limit of the yellow corridor 0.310 USD. At some point, the price volatility has increased dramatically and in a short time we could see a pullback to around 0.300 USD and a sharp jump to a new annual high point 0.341 USD.
After that, the trading volumes decreased, volatility fell, and the price consolidated in a narrow range at the level of 0.322 USD.
Today sellers can push the price towards the support 0.310 USD. This upper bound yellow corridor may hold the pair from further decline.
* All prices shown are based on data exchange BitStamp