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ETH is Likely To Move Towards $200 while XRP Is Ready $0.20 levels
ETH/USD Pair Price Analysis
The ETH/USD pair incurred a steep increase over $165 and $175 barriers within the previous few days. The pair continued to the upside over $180 barrier and established itself over the 100 hourly SMA.
It attained a fresh monthly high close to $188 prior to the beginning of a downside retracement. It incurred a retracement beneath $180, but the buyers defended the key $175 support zone.
It appears that a powerful support base is being formed over $175 and the 100 hourly SMA. A look at the pair’s hourly chart shows the formation of a key bullish trend line with support close to $178.
The first barrier on the upside is close to $185. If the pair breaks over $185 barrier, it could pave way for additional increase over $188 high.
The immediate barrier is close to $195, over which there is likelihood of the buyers to focus on testing the $200 handle in the near-term.
A look at the downside shows the crucial nature of $175 support zone and the trend line. The immediate key support is close to $173 or the 100 hourly SMA.
The occurrence of a declining break beneath $175 and $173 support levels poses a risk of a huge downside retracement to $165.
XRP/USD Pair Price Analysis
Last week, the XRP against the USD pair was able to gain traction, thereby breaking numerous key barriers. It was such that it surged above the main $0.1850 barrier area to dwell in a bullish area.
The pair closed above $0.1900 and the 100 hourly SMA. It attained price levels as high as $0.1976 prior to lower correction. It was able to break the $0.1920 support, but did not move below $0.1880.
It was able to form a low close to $0.1882 and it is now moving to the upside. A look at the downside on the pair’s hourly chart shows the formation of a key bullish trend line with support close to $0.1900.
A look at the upside on the same chart shows the first barrier close to $0.1950. If the pair surges above the $0.1950 barrier, it could pave the way for additional upsides over $0.1980. The main barrier remains close to $0.2000, over which there is likelihood of the buyers to visit $0.2050.
The downside part of the chart shows that the key levels are $0.1900 support zone, the trend line, and the 100 hourly SMA. There is the formation of a main support close to $0.1850.
The pair’s failure to maintain price levels over $0.1900 and $0.1850 support could lead it into a declining area. If successful, the pair is exposed to the risk of more declines towards $0.1740 in the near-term.