Bitcoin, Ethereum, XRP price analysis on 07/11/2020

Yesterday morning the pullback stopped and buyers were able to return the market above the average price level. Today in thisregion, the market will consolidate.

BTC / USD

Yesterday morning the price of Bitcoin marked a localthe minimum was at 9053.14 USD and rebounded to the area of ​​9150.00 USD. During the day, the pair slowly recovered and by the end of the day reached the average price level, which slowed down its growth. 

During the Asian session, it was not possible to significantly increase purchase volumes, but buyers were able to overcome the two-hour EMA55 and test the resistance of 9300.00 USD. 

We believe that in the near future, this resistance level will keep the pair in short-term consolidation. The lower limit of such a range may be the level of two-hour EMA55. 

If the activity of market participants remains at a low level over the weekend, then the pair will remain flat on the POC indicator line until the end of the week. 

ETH / USD

Yesterday morning the bears pushed through the two-hour EMA55,but they were unable to test support for 233.33 USD. The pair quickly recovered to the area of ​​average prices and consolidated above the moving average EMA55. 

Trading volumes are currently lowlevel, and the ETH price cannot yet continue to recover. If buyers do not become active, then in such a thin market the pair will not be able to overcome the resistance of 247.00 USD. 

We believe that until the end of the week, the bears' efforts will be limited to the support of 233.33 USD. 

XRP / USD

Yesterday, in the first half of the day, the bears tested the level of average prices, which stopped the decline and allowed buyers to restore the pair to the psychological level of 0.200 USD. 

Tonight the price of Ripple brokeresistance 0.200 USD and tested the POC line (0.203 USD) in the morning. Currently trading volumes are below average, and consolidation in the area of ​​the Point of Control line (0.203 USD) may continue in the near future. 

We believe that by the end of the week the level of 0.200 USD will be able to keep the pair from deep pullbacks, and the target level of bulls, as before, remains the resistance of 0.213 USD.

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