Bitcoin has managed to reclaim a little bit of lost ground in Asian session since traders continued to lift the pair from yesterday’s intraday low of 4963.00 following the rapid and sharp sell-off.
The rapid plunge amid yesterday’s North American session began when the pair tested the 5512.12 level, about 50% retracement of the move from 5650.01 to 5374.00. After that, some decent demand was noticed around the 5078.52 area, driving BTC/USD back to the 100-bar MA around 5176.07, an essential level which we continue to cite.
Ethereum gained a little bit of lost ground amid the Asian session as the pair got back tot he 156.00 figure after trading at the low price of about 146.00 area amid yesterday’s North American session. Amid yesterday’s plunge, Stops were elected below the 158.71 area, the 200-bar MA and this hastened the slide to the other area of Stops which is below the 151.69 area while representing the 50% retracement of the 222.78 – 80.60 range.
Litecoin discovered some demand amid the Asian session as and when traders lifted the pair back to the 73.50 level following the steep plunge of yesterday to the 68.88 area. The 75.06 area has been at the top in recent sessions while representing the 50.0% retracement at the range of 127.95 – 22.17 and the pair too have been challenged by the 200-bar MA, which is currently around 74.66 area.
Bitcoin Cash has encountered some upward price pressure amid the Asian session as the pair tested Offers around the 271.20 after trading as low as the 256.31 area amid yesterday’s North American session. Major Stops were elected below the level of 271.35 yesterday while representing the 38.2% retracement of the move ranging from 591.88 to 73.22, which is an area that has been at the top since the sharp move lower.