Analysis of Bitcoin, Ethereum, XRP prices for 08/20/2020

Yesterday, price declines stopped at forecast support levels. If today's buyers can'tstart recovery, then the fall will continue until the end of the week.

BTC / USD

Yesterday the POC line (11740.62 USD) suspended the decline in the price of BTC. At the end of the day, the pair set a local low at 11574.40 USD and rebounded to the Point Of Control level (11740.62 USD) to continue moving in a sideways range. 

Trading volumes dropped significantly overnight andthe consolidation range is narrowing. We believe that today buyers will try to test the two-hour EMA55 and gain a foothold in consolidation above the average price level. 

If it is not possible to overcome the resistance of the moving average EMA55, then the decline will continue to the fifty percent fibonacci level (11394.15 USD). 

ETH / USD

Yesterday, the decline in the price of Ethereum continued below the psychological level of 400.00 USD. The pair marked a daily low near the POC line (395.33 USD) and at night rebounded to the area of ​​the two-hour EMA55. 

As of this morning, the price is fixed atconsolidation. If during the day buyers are unable to recover above the average price level, then in the second half of the current week, the rollback may continue and reach 360.00 USD. 

XRP / USD

Yesterday morning sellers pushed the POC line (0.294 USD), and buyers constantly tried to recover above the Point Of Control level, but until the evening they were unable to gain a foothold above it. At the end of the day, the pair broke through the support of 0.280 USD, setting the daily low at 0.279 USD. 

At night, trading volumes decreased and buyersagain we tried to test the POC line (0.294 USD). If today they cannot recover to the area of ​​average prices, then the next daily low is possible around the 0.270 USD mark. 

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