Bitcoin Price Analysis, Ethereum, Ripple on 07.12.2020

Over the weekend, the market continued to consolidate in the area of ​​average prices, and at the beginning of the week buyers will resumeattempts to break into the high zone

BTC / USD

Last weekend trading activity waslow, but even with small volumes of purchases, the bulls were able to gain a foothold above the hourly EMA55. Sellers tried several times to push the pair below the average level, but until the end of the week the price remained in a sideways corridor above the moving average EMA55. 

This morning there was a lot of pressure fromthere are no bears, and if the average price level again works as support, then the bulls will try to continue trying to take the 100% fib line (19666.00 USD) by storm. 

ETH / USD

Last Saturday sales volumes decreased andthe ETH/USD pair recovered to the area of ​​average prices. Until the end of last week, the price of ether was in a sideways range around the hourly EMA55. Buyers tried to stay above the 600.00 USD mark, but by the beginning of this week they failed to gain a foothold above this strategic line. 

If the bearish pressure increases, that isthe likelihood of a renewed decline. Weak support is the levels of 560.00 USD and 540.00 USD. A stronger support level can be considered the ascending green trend line, which runs around the 520.00 USD mark. 

XRP / USD

Over the weekend, the price of Ripple recovered to the area of ​​average prices, but the POC line (0.619 USD) kept the pair in a sideways range. The consolidation range narrowed significantly tonight. 

If buyers are able to overcome the resistance of the Volume Profile indicator line (0.619 USD), then growth will resume in the area of ​​0.700 USD. 

If the bears increase their pressure and push through the support of the hourly EMA55, then the price will test the psychological level of 0.500 USD. 

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

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