March 6, 2021

Analysis of prices for Bitcoin, Ethereum, Ripple for 11/02/2020

Analysis of prices for Bitcoin, Ethereum, Ripple for 11/02/2020

Bitcoin price rolled back from the annual high and market participants reduced trading volumes in anticipation of further messages from market makers.

BTC / USDAnalysis of prices for Bitcoin, Ethereum, Ripple for 11/02/2020

Over the past weekend, the bulls were able to continue the rise in the price of Bitcoin and renewed a two-year high at 14100.00 USD.

Immediately after the high, the pair fell back tosupport at 13600.00 USD and so far buyers are trying to limit the decline, but if in the near future the pressure from the bears increases, then we can expect a continuation of the pullback to the 61.8% fibo level (13346.30 USD).

The lack of significant support outside the blue ascending channel could lead to an avalanche-like decline in the area of ​​average prices and a breakout of the level of 12000.00 USD.

If we assume that the bulls will be able to keep the pair in the upward channel and continue to grow in the overheated market, then a retest of the level of 14400.00 USD is possible.

ETH / USDAnalysis of prices for Bitcoin, Ethereum, Ripple for 11/02/2020

On Sunday, the price of Ethereum settled in the area of ​​the POC line (385.40 USD), and tonight, buyers restored the pair to the area of ​​400.00 USD.

Until the growth is supported by large volumes and in the thin market the price may continue to recover to the level of 420.00 USD.

If, at the psychologically important boundary (400.00 USD), the bears reverse the price to decline, the pair will break through the support of 380.00 USD and slow down the decline somewhere around 360.00 USD.

XRP / USDAnalysis of prices for Bitcoin, Ethereum, Ripple for 11/02/2020

Over the weekend, the Ripple price rolled back below the POC line (0.242 USD), but yesterday small trading volumes helped consolidate the pair around the 0.240 USD mark.

Small purchases started to move the price tonightup and slightly restored the moving average area. However, the XRP price cannot yet gain a foothold above the Point Of Control level (0.242 USD). A bullish break above the 6-hour EMA55 will help the pair consolidate above the green uptrend line.

If the bears keep the pair below the indicatorof the Volume Profile line (0.242 USD), then at the beginning of the week the price will break through the support of 0.230 USD and roll back to the area of ​​the September minimum - to the area of ​​the 0.220 USD mark.

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

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