March 29, 2024

Analysis of the prices of Bitcoin, Ethereum, Ripple for 11/20/2020

Analysis of the prices of Bitcoin, Ethereum, Ripple for 11/20/2020

Yesterday, the market consolidated in the area of average prices.continue the race?

BTC / USDAnalysis of the prices of Bitcoin, Ethereum, Ripple for 11/20/2020

Yesterday, in the first half of the day, sellers broke through the support of the hourly EMA55, but failed to gain a foothold below the level of average prices. 

In the second half of the day, buyers recovered the pair above the psychological level of 18000.00 USD, but by the end of the day, the volume of purchases decreased, and continued to grow at nightfailed. 

This morning, the bulls are trying to continue the run, using the support of the moving average EMA55.If market participants believe, they will support the growthA new yearly high is possible around 19000.00 USD. 

On the other hand, it should be taken into account that the bears may strengthen the onslaught at 18500.00 USD, and then they will break throughsupport of the average price level, returning the pair to the area of 16600.00 USD. 

ETH / USDAnalysis of the prices of Bitcoin, Ethereum, Ripple for 11/20/2020

Yesterday morning, sellers dominated the market and managed to pull the ETH price back below the hourly EMA55 with small sales volumes.During the day, the balance of power leveled out and buyers returned the pair to consolidation in the area of average prices. 

The price of ether started active tonightretrace and tested the upward blue trendline. If the bulls are able to break the resistance of the trend line, then the growth will continue to the psychological level of 500.00 USD. In this area, the growth dynamics will slow down, and sellers may try to turn the pair into a pullback.

XRP / USDAnalysis of the prices of Bitcoin, Ethereum, Ripple for 11/20/2020

Yesterday, at the beginning of the European session, sellers broke through the weak support of 0.290 USD, but the sales volume was small, so in the second half of the day buyers were able to return the pair above the psychological mark of 0.300 USD. 

The bulls do not dare to break through the resistance at 0.310 USD yet, and the price of Ripple is consolidating in a narrow sideways range in the area of the monthly high. 

If the bulls break through the resistance of 0.310 USD today, they will be able to come close to the August high (0.330 USD). 

* All price values ​​are based on data from the BitStamp exchange

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