Analysis of prices for Bitcoin, Ethereum, XRP for 08/13/2020

Yesterday, on small volumes, we managed to start recovery. Will buyers be able to continue it today?

BTC / USD

Yesterday sales volumes decreased significantly. In the first half of the day, the pair marked a daily low at 11150.00 USD, after which the price of Bitcoin began to recover. 

Trading volumes did not exceed the average level, butbuyers managed to overcome the 50% fib (11394.15 USD) and test the two-hour EMA55. At night, the pair tried to continue growing, but the BTC price was only able to pierce the moving average EMA55 and consolidate above – Buyers have not yet succeeded. 

If purchase volumes can be increased, the pair will consolidate above the average price level and will be able to continue recovery to the psychological level of 12000.00 USD. 

In the thin market – The pair will remain unstable in a narrow range at the level of average prices, which at any moment could end in a return to yesterday’s low.

ETH / USD

Yesterday morning, after a local minimum in the areamark 365.00 USD, the ETH/USD pair recovered to the area of ​​average prices. Until the end of the day, buyers tried to overcome the level of the two-hour EMA55, but it was not easy to do this on low volumes. 

At night, during the Asian session, the price of ether still broke through the moving average EMA55 and is trying to test the resistance of 400.00 USD. 

Purchase volumes still remain below the average level, and break throughfour hundred dollar milestoneWithout support in large volumes it will not be possible. In a thin market, the pair will struggle in a narrow sideways pattern, the upper limit of which will be resistance at 400.00 USD. 

If buyers are able to form a powerful bullish impulse, they will overcome the four hundred bar, while updating the annual maximum around the 420.00 USD mark.  

XRP / USD

Yesterday, Ripple sales volumes decreased, while the price recovered above 0.280 USD. 

During the day, it was not possible to continue the recovery without the support of a large buyer, and the pair got stuck in a sideways corridor, relying on the support of 0.280 USD. 

If purchase volumes can be increased, the pair will recover above the average price level. At reduced volumes – Consolidation in a narrowing sideways pattern will continue.  

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