Bitcoin, Ethereum, XRP price analysis on 06/02/2020

The price of Bitcoin has once again been able to overcome the psychological milestone of ten thousand dollars.Market Participantsexpect an update of the annual maximum.

BTC / USD

Yesterday, during the day, the trading volumes were at the average level, and the bitcoin price was consolidating in a narrow sideways range, trying to break through the resistance of 9600.00 USD.Towards the end of the day, the volumes began to increase, and the pair broke through the resistance. 

In the Asian session, a powerful bullish impulse broke through the resistance of 9800.00 USD and the BTC price overcame the psychological barrier10000.00 USD.Tonight, buyers failed to update the yearly high.The June high was fixed around 10430.00 USD. 

In the morning, the pair rolled back, but so far it is above the psychological level of ten thousand.If buyers are able to gain a foothold above this level, then the growth will continue, and the bulls will be able toto update the 2020 high in the area of 10600.00 USD. 

Continuation of the bull run during this week may lead to an increase in the price to the area of 10900.00 USD and a re-test of the fifty percent Fibonacci level (11394.15 USD). 

ETH / USD

Yesterday, buyers stopped pullbacks and began to increase the volume of purchases late at night.In the Asian session, they were able to return to the May high zone and set the first summer record of the ether price around 252.00 USD. 

As of this morning, the pair has rolled back below 250.00 USD, but is still in a narrow sideways range.Intensive growth may lead to a retest of the lower border of the lilac resistance zone (264.00 USD). 

If buyers fail to continue growing today, the pair will roll back to the area of average prices. 

XRP / USD

Yesterday, the price of Ripple consolidated in a sideways range during the day, and late in the evening, the price began to grow, which allowed buyers to return to the resistance of 0.213 USD. 

This time, the pullback from the zone of the recent high is much shorter.If buyers are able to continue rising, then the pair will test the two-hundred-day moving average, which passesWe believe that it will be difficult for the XRP price to overcome this resistance, and most likely, it will consolidate in a short-term consolidation at the level of 0.213 USD.  

 

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