Bitcoin Price Analysis, Ethereum, Ripple on 11.12.2020

Yesterday, the bears did not allow prices to consolidate above the average level. If buyers can interceptinitiative, they will try to restore prices to the area of ​​weekly sideways consolidation.

BTC / USD

Yesterday, buyers tried several times to break through the resistance of the hourly moving average EMA55, but each time the bears pushed the pair below the average price level. 

Tonight the price of Bitcoin rolled back into the zonemonthly low and is trying to find support around the 17600.00 USD mark. If buyers are able to form a bullish impulse, they will restore the pair above EMA55. 

If the bears push through the strong support level of 17600.00 USD, then over the weekend the pair will roll back to the ascending blue trend line (to the area of ​​17000.00 USD). 

ETH / USD

Yesterday morning, sellers pushed the price of Ethereum fromhourly EMA55. In the evening, buyers made a desperate attempt to break through the moving average curve EMA55, but at the end of the day, a powerful bearish impulse returned the pair to the support of 540.00 USD. If this level does not withstand the pressure of sellers, then the decline may continue to the green trend line. 

By the end of the week, buyers will try to stay above the lower boundary of the rising channel, but if the bears strengthenpressure, the pair can drop out of the green corridor and test the psychological level of 500.00 USD.

XRP / USD

Yesterday, during the day, the price of Ripple consolidated in the hourly EMA55 area. Tonight the bearish pressure intensified and sellers pushed the price to the support of 0.540 USD. 

In the morning, buyers stopped their decline andtrying to restore the pair to the area of ​​average prices. If they can overcome the resistance of the moving average EMA55, then their efforts will be aimed at retesting the POC line (0.619 USD). 

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

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