Bitcoin, Ethereum, XRP price analysis on 07/09/2020

Yesterday the bulls were able to update July highs. Today, with low activity of market participants, it is possibleprice consolidation.

BTC / USD

Yesterday morning trading volumes were below averagelevel and the price of Bitcoin is stuck in the resistance area of ​​9300.00 USD. Sellers tried to push the price to the two-hour EMA55, but buyers were able to form a bullish impulse and broke through the key resistance of 9300.00 USD. 

In the afternoon the couple testedlevel 38.2% fib (9441.98 USD) and set the daily maximum in the area of ​​9480.00 USD. The price of BTC could not stay in the maximum zone and rolled back slightly below the level of 9400.00 USD. 

At night, buyers tried to continue growing, but small volumes of purchases no longer allowed the price to break through the 38.2% Fibonacci level, and in the morning the pair rolled back to the area of ​​9360.00 USD. 

Today, buyers will again try to update the July high, and if they manage to break through the resistance of 38.2% fibo (9441.98 USD), then the next maximum is possible in the area of ​​9600.00 USD. 

It will not be possible to continue growth on average volumes, and then the pair will again get stuck in a narrow consolidation. In this case, even a weak bearish impulse will be able to roll back the price to the support of the two-hour EMA55. 

ETH / USD

Yesterday the bulls were able to increase purchase volumes and the priceEthereum continued to grow. In the second half of the day, the pair broke through the resistance of 247.00 USD and updated the July maximum around the 249.00 USD mark, but by the end of the day the volume of purchases decreased significantly and the pair rolled back to the POC line (243.25 USD). 

Today in the Point Of Control area price reductionETH has paused and buyers will try to continue to rise. If the bulls again overcome the level of 247.00 USD, then they will be able to update last month’s high of 253.43 USD, which was set in early June. We believe that today a summer maximum is possible around 256.00 USD. 

If buyers can not cope withresistance of 247.00 USD, then the pair can go into medium-term consolidation on the POC line. At the same time, the level of 233.33 USD will be quite reliable support from a deep pullback.

XRP / USD

Yesterday the bulls repeated their powerful onslaught and piercedPOC line (0.203 USD). The July maximum was fixed at 0.207 USD. Before the end of the day, the pair rolled back below the support of 0.200 USD, but this psychological level was able to keep the XRP price from further decline, and in the morning, buyers restored the pair to the Point Of Control line (0.203USD). 

Today buyers will try to continue growing towards the resistance of 0.213 USD. 

If it is not possible to increase purchase volumes, thenlow activity of market participants, the pair will be in consolidation on the POC line (0.203 USD), and the lower boundary of the side range will be the psychological level of 0.200 USD. 

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