Analysis of prices for Bitcoin, Ethereum, XRP for 07/17/2020

The decline in stock market indices in the Asia-Pacific region was also reflected in the cryptocurrency market.After the Bitcoin price rolls back to the nearest support level, the pair is trying to recover to the average price level.

BTC / USD

Yesterday's decline in the price of BTC led to the fact thatthe pair returned to the July low. However, the bearish pressure was not strong enough to break through the support of 9000.00 USD and update the low of July 5, which is set around 8905.00 USD. 

Until the end of the day, the price of Bitcoin rebounded into the area9100.00 USD and is trying to gain a foothold in a narrow consolidation to continue the recovery into the average price area. It should be taken into account that the recovery has not yet been supported by large volumes, and today the decline may continue to the area of ​​8900.00 USD. 

ETH / USD

Yesterday the bears knocked the ETH price out of the blue narrowside range and broke through the support of 233.33 USD. The daily low was set around 230.00 USD, after which sales volumes decreased and the pair recovered to the orange support level (233.33 USD). 

Today the decline may continue towards stronger support at the 100% fib level (222.98 USD). 

XRP / USD

Yesterday's price decline in Ripple stopped atnear the nearest support 0.190 USD. The bears pierced this level, setting a weekly low at 0.188 USD, but by the end of the day the pair was able to recover to the 0.195 USD mark. 

Now there is a strong pressure from the outsidebears and it is possible that during the day it will lead to a continued decline to the area of ​​0.180 USD. By the end of the week we expect a retest of stronger support at 0.170 USD. 

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