On the upside, the initial resistance is created by $6,900 with the intraday high just below this level. Once it is out of the way, the upside is likely to gain traction with the next focus on $7,000 and $7,130 reinforced by SMA100 weekly. This barrier stopped the recovery earlier this week and may serve as a reversal point during the next bullish wave. A sustainable move higher will bring $7,500 (SMA200 4-hour) and psychological $8,000 back into focus.
NEO, now the 2nd largest digital asset with the current market value of $492 million, is hovering around psychological $7.00. The coin has gained over 2% on a day-to-day basis, however, the upside momentum has faded away during early Asian hours. NEO tokens worth nearly $500 million changed hands in recent 24 hours, which is in line with the long-term average figures.
Ripple (XRP) has been the best-performing altcoin out of top-20 in recent 24 hours, The coin tested $0.1800 during late Thursday hours and managed to settle above $0.1700 on Friday. Ripple’s total market capitalization is registered at $7.5 billion, while an average daily trading volume reached $2.3 billion.
$0.1830 – Pivot Point 1-day Resistance 1
$0.1650 – Pivot Point 1-day Support 1, SMA50 1-hour SMA200 15-min, 23.6% Fibo retracement