Analysis of prices for Bitcoin, Ethereum, XRP for 07/24/2020

The bulls continued to renew their highs yesterday. When to expect a rollback?

BTC / USD

Yesterday the bulls continued their advanceand broke through the blue ascending trend line.The July maximum was updated to 9690.00 USD. By the evening, the volume of purchases had decreased, and the pair could not stay in the ascending channel with support in the form of a dotted trend line. 

Today the bulls will repeat their attempt to gain a foothold above the trend line, but on large time frames the Stoch RSI indicator lines have entered the overbought zone. This indicates an imminent fall in the price of Bitcoin. 

Even if the bulls can update the high in the area9800.00 USD, then they will not stay in this zone for long, and the price will roll back significantly. The nearest support, which will restrain the decline – this is the 38.2% fibonacci level (9441.98 USD).  

ETH / USD

Strong selling pressure yesterday morningwas missing. During the day, the bulls managed to hold on to the lower border of the lilac area and break through the resistance of the upper border, setting the July high around 280.00 USD. 

It has not yet been possible to update the annual maximum. The Ethereum price immediately returned to the purple sideways range. 

If the bulls attempt to update the February highcontinue, then the price may test the resistance of 300.00 USD. If the price of ether cannot stay in the purple side corridor, then the pair will soon roll back to the area of ​​247.00 USD.  

XRP / USD

Yesterday the POC indicator line (0.203 USD) kept the Ripple price from a deep rollback and buyers continued to grow, updating the weekly high to 0.211 USD. In the evening, purchase volumes decreased and the bulls were unable to test the resistance of 0.213 USD. 

If the pressure of the bulls intensifies, the pair will updatethe July maximum is around 0.215 USD. However, despite the potential for growth, a reversal to decline is possible soon. The nearest reliable support may be at the level of 0.200 USD. 

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