Bitcoin, Ethereum, XRP price analysis for 08/04/2020

The market is gradually recovering after a powerful bearish impulse, but buyers were unable toovercome key resistance levels.

BTC / USD

Yesterday the price of Bitcoin remained in the areaaverage prices. In the second half of the day, a weak attempt by buyers to gain a foothold above the 50% fib level (11394.15 USD) was noticed, but before the end of the day the pair returned to the two-hour EMA55. 

Today we can expect repeated attempts to break through the fifty percent Fibonacci level. If successful – a re-test of the level of 12300.00 USD is possible. 

If the bears push below 11000.00 USD, the price will roll back to the support at 10500.00 USD. 

ETH / USD

Yesterday, buyers continued to restore the price of Ethereum. They managed to test the level of 400.00 USD, but have not yet been able to gain a foothold above this psychological mark. 

Today the attempt to overcome this milestone will be repeated.If it is supported by large volumes, then a renewal of the annual maximum should be expected around the 420.00 USD mark. Otherwise – the pair will roll back to the support area of the two-hour EMA55. 

XRP / USD

Yesterday, the price of Ripple overcame the psychological level of 0.300 USD, but on average volumes, buyers were unable to break above the resistance of 0.320 USD. 

If today the volume of purchases manages to increase, then a re-test of the zone of the annual maximum, which was recorded in mid-February, around the mark of 0.347 USD, is possible. 

If it fails to break through the resistance of 0.320 USD, the pair will roll back to the area of average prices. 

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