Analysis of the prices of Bitcoin, Ethereum, XRP for 06/17/2021

Yesterday's decline in prices in the market may be compensated by today's recoveryWhether buyersbefore the end of the week to update the June highs?

BTC / USD

Yesterday morning, the BTC price was held in a narrow consolidation with support around 39600.00 USD.In the afternoon, the pair fell out of the sideways trend, and by the end of the day, the bitcoin price sank to the support of 38000.00 USD. 

There was no strong pressure from the bears, so the pair stayed above the four-hour EMA55.If today this moving average limits the decline, the price will soon recover to the fifty% Fibonacci level (42447.96 USD). 

ETH / USD

Yesterday, sellers were able to overcome the support of the four-hour EMA55 and rolled the pair back to the area of 2350.00 USD.This morning, the first attempts of buyers to return the pair to the area of average prices are visible. 

Despite the significant drawdown in price, we still expect that in the near future Ethereum will recover above the resistance of 2800.00 USD and test it by the end of the weekpsychological mark 3000.00 USD. 

XRP / USD

Yesterday, sellers tried to pull the XRP price back to the support of 0.800 USD on small volumes.In the area of 0.826 USD, the decline slowed down and there were signs of the pair recovering to the area of average prices. 

If buyers return the pair to the range of the recent short-term consolidation, then the Ripple price will be able tocontinue the recovery to the level of 1.00 USD. 

* All prices are based on BitStamp data

Subscribe to ForkNews on Telegram