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- The cryptocurrencies suffered a fall on Thursday, but the grip did not go too far.
- The intention of Russia to buy digital coins should give a boost.
- Here are the levels to be observed according to the confluence detector.
After several days of modest climbs in limited series, the markets started to move and the cryptocurrencies declined. Ethereum led the charge, Bitcoin was brought lower, while Ripple showed some resilience.
Cryptos may have reasons to increase, while Russia is mulling the purchase of digital currency to circumvent the sanctions. The news on this additional question is accompanied by reports that Coincheck, an important Japanese stock exchange, will register as a crypto-exchange.
Will the coins bounce? The upward technical objectives are clear to see.
BTC / USD must exceed $ 3,875
Bitcoin, the grandfather of criptos who recently celebrated 10 years, must make a move above $3,875. The level is a dense group of lines that includes the Medium Day Bollinger Band, the Simple Moving Average 200-1h, the Fibonacci 23.6% of a week, the SMA 10-one-day, the Fibonacci 61.8% of a day, the SMA 50-4 hours and more.
A small obstacle waits for $3,745 where we see 38.2% of Fibonacci of a day and the convergence of a week of 61.8% of Fibonacci.
Looking down, BTC / USD could find support for $3,573 which is the confluence of Fibonacci's 38.2% to a month, yesterday's minimum and BB 1h-lower.
The next support line is $3,403 which is the meeting point of a month's support at Pivot Point 3 and the Fibonacci month of 23.6%.
ETH / USD notes $ 131
Initially, Ethereum must recover $125.80 where we see the confluence of BB 1h-Lower, SMA 5-15m, BB 4h-Lower and BB 15m-Lower.
The upward target is $131 that is the conjuncture of 38.2% Fibonacci to a month, the Fibonacci 23.6% of a day, the BB 15m-Upper, the BB 1h-Upper and the minimum last week.
Some support awaits for $120 which is the meeting point of the PP 1w-S2, the SMA 50-1d and the SMA 200-4h.
A sizable cushion from Vitalik Buterin waits for $112.70 that is the convergence of two Fibonacci lines: 61.8% to a month and the Fibonacci 161.8% to a week.
XRP / USD must cross $ 0.3980
Ripple has the first obstacle to $ 0.35, a round level and also the confluence of 38.2% Fibonacci to a month, the SMA 10-4h, the last week's low and the Fibonacci 38.2% of a day.
The most important target for XRP / USD is $ 0.3980 where we see Fibonacci $ 61.8 a day, SMA 200-1h, SMA 4h, SMA 10-a-day and Fibonacci 38.2% a week.
Support stands at $ 0.3244, which is the Fibonacci meeting point of 23.6% at one month and yesterday's.
