Bitcoin, Ethereum, XRP price analysis on 07/04/2020

With low activity of market participants, prices may get stuck in a narrow consolidation until the end of the week.

BTC / USD

Yesterday, trading volumes were below average and buyers did not have enough strength to restore the price of bitcoin to the two-hour EMA55. 

At the same time, there was no strong selling pressure either, the BTC price found support somewhere around 9040.00 USD and consolidated in a narrow sideways corridor. 

Today, buyers will again try to break above the level of average prices.is supported by volumes, the pair will be able to overcome the resistance of 9300.00 USD. 

If at the end of the week the market remainsthin, the price will not be able to break through the moving average EMA55 and will fight in the lateral range, with a gradual slip to the upper border of the descending orange channel.

ETH / USD

Yesterday, bulls spent the whole day testing the strength of the two-hour EMA55.The pair managed to puncture the level of average prices, but without the support of a major buyer, the bulls could not succeed in recovering the price. 

At night, sellers slightly rolled back the price of the moving average, but in the morning, the price of Ethereum returned to its previous level.If today the price increases the volume of purchases, the market may break above the resistance of 233.33 USD. 

In case of low activity of market participants, the price of ether will remain in a sideways range under the two-hour EMA55, and at the end of this week, sellers will be able topush the pair below the 100% Fib support (222.98 USD). 

XRP / USD

Yesterday, there was no pressure from the bears and buyers recovered the Ripple price to the area of the two-hour EMA55. 

Until this morning, the couple was able to gain a foothold inconsolidation above average prices. The sidewall will continue throughout the day, but if sellers push the pair below the EMA55 moving average, the price will fall back to the support of 0.170 USD.

On the other hand, on the daily timeframe, the Stoch RSI indicator saysabout a possible rise in the price of XRP.If the bulls show on Sundayactivity, then at the beginning of next week a re-test of the resistance of 0.190 USD is possible.     

 

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