November 30, 2020

Analysis of prices for Bitcoin, Ethereum, XRP for 10/24/2020

Analysis of prices for Bitcoin, Ethereum, XRP for 10/24/2020

By the end of this week, active growth had stopped and buyers are fighting a positional struggle for a place in upstream channel. If the bears can limit the growth, then by the end of the week the market will begin to decline significantly.

BTC / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 10/24/2020

Over the past day, trading volumes have been significantlydecreased and the volatility of the pair decreased. The price is located in a narrow sideways range, the upper border of which is the blue trend line, and the lower one is in the area of ​​the level of 12800.00 USD.

Yesterday, in the first half of the day, buyers still somehow tried to break above the trend line on small volumes, but towards evening the pair rolled back to the lower border of a narrow sideways range.

Tonight, the price almost did not leave the level of 12930.00 USD, and in the morning buyers will again try to break through the blue trend line and test the 61.8% fibo level (13346.30 USD).

If the volume of purchases is below the average level, then this Fibonacci level will turn the pair downward.

ETH / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 10/24/2020

Ether price was trying to stay higher yesterdayblue trend line. The sellers did not behave too aggressively, but the bearish impulse still tried to bring the price back to the psychological level of 400.00 USD. Buyers managed to stop the pullback and gain a foothold in the area around 410.00 USD.

They will pull the price back to the blue trendline this morning. If the volume of purchases is low, then it will not be possible to break above the monthly maximum and on the weekend the price will roll back to the support of 380.00 USD.

XRP / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 10/24/2020

Yesterday there was enough buyer activitylow, and XRP price failed to re-break the upper border of the wide sideways range of 0.260 USD. In the second half of the day, sellers managed to push through the support of 0.255 USD and by the end of the day the pair rolled back to the level of 0.250 USD.

Over the past night, the price of Ripple recovered to its previous level, but in order to update the monthly maximum, it will be necessary to use large volumes.

On the other hand, in an overheated market, bearsthere is a better chance of continuing the pullback below the 0.250 USD level. If sellers break through this support, then by the end of the week the pair will roll back to the POC line (0.242 USD).

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

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