Bitcoin Price Analysis, Ethereum, Ripple on 12.12.2020

Quite strong support levels keep the market price movement in an ascending channel. Will the bears be able tosqueeze them?

BTC / USD

Yesterday afternoon support was at 17600.00 USD stopped the onslaught of the bears and kept the price of Bitcoin from falling further. Before the end of the day, the pair recovered to the hourly EMA55 area, and tonight buyers managed to gain a foothold above the average price level. 

The volume of purchases is still very low, but if the recovery is supported by large buyers, the pair may at the weekendovercome the resistance of 18800.00 USD and return to the POC line.

ETH / USD

On the eight-hour time frame you can see how the lowerthe border of the green channel kept the price of ether in an ascending corridor. Sellers were unable to push through the double support at the intersection of the blue and green trend lines, and the pair rebounded to the moving average EMA55. 

If buyers are able to continue their recovery over the weekend, the price will return to the area of ​​600.00 USD. 

XRP / USD

Yesterday, in the afternoon, around the 0.535 USD mark, buyers found support and by the end of the day they restored the Ripple price above the hourly EMA55 level. 

Tonight a powerful bearish impulse broke throughaverage price level and tested the psychological support of 0.500 USD. Until this morning, the pair rebounded to the level of 0.540 USD, but weak pressure from sellers does not allow the price to gain a foothold in this area. Even with low sales volumes, the pair rolls back to the December low. 

Over the weekend, buyers will try to seize the initiative and return the pair to the POC indicator line (0.619 USD). 

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

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