Bitcoin, Ethereum, XRP price analysis on 07/10/2020

Yesterday, buyers were unable to break through the target resistance and the bears pushed prices below the average level.

BTC / USD

Yesterday in the morning the price of Bitcoinconsolidated in a narrow range around the 9360.00 USD mark. During the day, buyers tried, on small volumes, to break above the 38.2% fib resistance (9441.98 USD), but sellers responded with a fairly strong bearish impulse, which pulled the pair back below the average price level. 

The daily minimum is indicated at 9157.11 USD.Before the end of the day, the price recovered slightly and until this morning it remained slightly above the support of 9200.00 USD. However, the situation is such that today it will be very difficult for buyers to recover above the two-hour EMA55. 

The pullback may continue to the area of ​​9000.00 USD. We believe that in this zone, buyers will be able to be inspired for a new wave of purchases and will try to restore the pair to the area of ​​average prices. 

ETH / USD

Yesterday afternoon, buyers tried to continue growing,but on volumes below the average level, they were unable to cope with the resistance of 247.00 USD. The bears responded with a fairly strong impulse, which rolled the pair back to the average price area. 

Until this morning, the price of Ethereum was able to stay above the two-hour EMA55, but sellers may increase the pressure and then the price will drop to the support of 233.33 USD. 

XRP / USD

Yesterday morning the price of Ripple recovered to the linePOC (0.203 USD) and tried to continue growing towards the resistance of 0.213 USD. During the day, buyers were able to update the monthly high to 0.212 USD, after which fairly large sales volumes returned the pair to support 0.200 USD. 

Until the morning the price was still on the psychologicalat the 0.200 USD mark, but pressure from the bears remained and today the pair may sink to the two-hour EMA55. Perhaps, around the 0.194 USD mark, buyers will take advantage of the support at the average price level and will be able to stop further decline. 

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