Analysis of prices for Bitcoin, Ethereum, XRP for 10/24/2020

By the end of the current week, active growth has ceased and buyers are engaged in a positional struggle for a place inupstream channel. If the bears can limit the growth, then by the end of the week the market will begin to decline significantly.

BTC / USD

Over the past 24 hours, trading volumes have increased significantlydecreased and the volatility of the pair decreased. The price is located in a narrow sideways range, the upper boundary of which is the blue trend line, and the lower – is in the area of ​​12800.00 USD. 

Yesterday, in the first half of the day, buyers still somehow tried to break above the trend line on small volumes, but towards evening the pair rolled back to the lower border of a narrow sideways range.

Tonight the price almost did not leave the level of 12930.00 USD, and in the morning buyers will again try to break through the blue trend line and test the 61.8% fib level (13346.30 USD). 

If the purchase volumes are below the average level, then this Fibonacci level will turn the pair downward. 

ETH / USD

Yesterday the price of ether tried to stay higherblue trend line. The sellers did not behave too aggressively, but the bearish impulse still tried to return the price to the psychological level of 400.00 USD. Buyers managed to stop the pullback and gain a foothold around the 410.00 USD mark. 

This morning they will restore the price to bluetrend line. If purchase volumes are low, then it will not be possible to break above the monthly high and over the weekend the price will roll back to the support of 380.00 USD. 

XRP / USD

Yesterday there was quite a lot of buyer activitylow, and the XRP price was unable to re-break the upper limit of the wide sideways range of 0.260 USD. In the second half of the day, sellers managed to push through the support of 0.255 USD and by the end of the day the pair rolled back to the level of 0.250 USD. 

Over the past night, the price of Ripple recovered to its previous level, but in order to update the monthly maximum, large volumes will be required. 

On the other hand, in an overheated market, bearsthere are more chances to continue the pullback below the 0.250 USD level. If sellers break through this support, then by the end of the week the pair will roll back to the POC line (0.242 USD). 

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

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