BTC/USDT
Bitcoin broke above the $23,816 resistance on the 29th, but the bulls failed to gain momentum. This may have prompted short-term traders to book profits as the price fell towards $22,800.
If the price bounces off $22,800, it suggests the bulls have reversed this level to support. If so, a rally to $25,211 is likely. A breakout of $25,211 will likely drive the BTC/USDT pair into the $30,000-$32,000 zone, where sellers will likely try to defend this level with all their might.
On the other hand, a break below $22,800 may deepen the correction to the 20-day EMA ($21,716) and the psychological support of $20,000.
ETH/USDT
Ether again reached the $1,680 resistance, but the bulls failed to break out of this level. The price remains stuck between the 20-day EMA ($1,540) and $1,680.
If the price bounces off the 20-day EMA, it indicates strong buying on the dip. After that, the bulls will try to push the price above $1,680 again. If they succeed, the ETH/USDT pair will move towards $2,000.
Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, a profit booking by the bulls is likely. The pair then falls to the 50-day SMA ($1,365), which acts as strong support.
XRP/USDT
XRP price is consolidating between the 20-day EMA ($0.40) and the overhead resistance of $0.42.
A tight consolidation near the ruthless resistance usually favors buyers, but some traders may book profits if the bulls fail to clear the hurdle after repeated attempts.
In this case, a break below the 20-day EMA will trigger a drop to the 50-day SMA ($0.37).
The XRP/USDT pair needs a quick breakout above the $0.42 to $0.44 resistance zone if the bulls want to maintain their dominance. This will initiate a rally to $0.51.
