Analysis of prices for Bitcoin, Ethereum, XRP for 08/14/2020

Yesterday the recovery continued and the ether price managed to renew its annual maximum tonight.

BTC / USD

Yesterday, during the day, the market was quite thin, and the price of Bitcoin consolidated in the area of ​​average prices. The pair was kept from declining by the 50% fibo level (11394.15 USD). 

Late in the evening, buyers were able to break throughtwo-hour EMA55 and test the level of 11800.00 USD. Such growth has not yet been supported by large volumes, but if today, at the European session, it inspires buyers to a new bullish wave, then the price may overcome the twelve thousandth mark and update the annual maximum in the area of ​​12400.00 USD. 

If, around the 12000.00 USD mark, sellers again begin to pour in large volumes, then the BTC price will return to the area of ​​average prices. 

ETH / USD

Yesterday, the price of Ethereum was in a sideways range withsupport at the level of two-hour EMA55. At some point, sellers managed to break through this support level, but buyers did not abandon their attempts to break through the resistance of 400.00 USD. 

Late at night, they formed a bullish impulse and broke into the zone of a new annual high, setting it around the 430.00 USD mark. 

Today growth may continue, and the nextthe maximum will be at 480.00 USD. A strong bullish impulse could test the psychological mark of 500.00 USD. In this case – there is a high probability of a deep rollback to the initial level of 400.00 USD.

XRP / USD

Yesterday the price of Ripple consolidated sidewaysrange, clinging to the support of 0.280 USD. Sellers tried to shift price fluctuations below this level, but at the end of the day, buyers restored the pair to the area of ​​average prices. 

Overnight, the recovery continued, and the XRP pricetested the psychological mark of 0.300 USD. If today the volume of purchases increases, then buyers will be able to take the pair out of the two-week flat pattern, the upper limit of which was the resistance of 0.310 USD. 

The daily maximum is expected to be set around 0.320 USD. If the bulls fail to break through the upper boundary of the side channel, the price will roll back to the two-hour EMA55 area. 

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