Bitcoin, Ethereum, XRP price analysis on 07/03/2020

Yesterday, the price of Bitcoin could not overcome the key resistance of 9300.00 USD. Should we expect growth today?

BTC / USD

Yesterday in the first half of the day, the pair rolled back to the level of average prices, after which buyers once again tried to break through the resistance of 9300.00 USD.However, sellers reacted with a tough bearish momentum, which pushed the BTC price to the area of 8940.00 USD. 

Buyers tried to correct the situation until the end of the day and restored the pair to the area of average prices, but until this morning, the price of bitcoin failed to test the two-hour EMA55. 

During the day, buyers will recover the pair to the area of average prices, but fromA breakout of 9300.00 USD will depend on whether they will be able to break through the resistance of the two-hour EMA55. 

We believe that today the bulls will not have enough strength to rise above the moving average EMA55 and the price will roll back to the upper border of the descending orange channel, around 8800.00 USD. 

ETH / USD

Yesterday the price of Ethereum failed to break higherresistance 233.33 USD. The bears formed a fairly strong impulse and rolled the pair below the average price level. The 100% fib support (222.98 USD) stopped the pullback and the pair rebounded to the area of ​​the two-hour EMA55. 

All night long, buyers tried to continue the recovery, but the level of average prices did not allow the price to continue growing. 

Buyer attacks may occur this morningwill continue, but on average volumes they will not be able to achieve significant success in restoring the price. We believe that bearish pressure may resume and they will roll back the pair below powerful support at the 100% Fibonacci level. 

XRP / USD

Yesterday, the price of Ripple was unable to break through the upper boundary of the sideways range in the form of the two-hour EMA55. In the afternoon, sellers increased pressure and the pair rolled back to the 0.172 USD area. 

During the Asian session, buyers tried to correctsituation, but the purchase volumes were below the average level and it was not possible to return the pair to the moving average EMA55. Today it is possible to continue the decline towards the support of 0.170 USD. 

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