Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD as of December 31, 2019

Will buyers retain the chances of continued growth on the last day of the year?

BTC / USD

Yesterday sellersincreased pressure and pushed through the two-hour EMA55.The pullback continued throughout the day until it was stopped at night by the Point Of Control line (7201.87 USD). Until the morning, the pair consolidated in a narrow range above the POC line, but sellers had already managed to test the support at 7166.00 USD. 

This decline brought the Stoch RSI indicator lines out of the overbought zone and retains small chances for buyers to break through to the gray resistance area. 

If today the bears push through the support of 7166.00 USD and will test the 23.6% fib level (7026.59 USD), then the bullish targets will lose their relevance for a while and the new year will begin with a dive into the wide purple range of $6100 – $6800.

ETH / USD

Yesterday morning, buyers were unable to restoreETH price is above the 38.2% fibo level (135.17 USD). During the day, trading volumes fell sharply, and the pair rolled back to the two-hour moving average EMA55. This level of average prices kept the pair from further decline, and now the price of ether is consolidating in a narrow range around the 130.00 USD mark. 

In this situation, the likelihood of a breakthrough remainsresistance level 38.2% fibonacci. However, if today sellers push through the average price level, the pair will reach support at the POC line (127.12 USD) and move on to short-term consolidation. 

XRP / USD

Yesterday customers were unable to usesupport of the downward trend line and test the resistance of 0.200 USD. At some point, selling pressure intensified, volumes exceeded the average level, and the pair fell below the dotted trend line. 

The decline stopped at the level of average prices. At night, the pair tried to consolidate in the area of ​​the two-hour EMA55, and is now struggling with the resistance of the blue trend line. 

There are still chances to test the psychological level of 0.200 USD, but if sellers resume pressing today, the price may drop to the area of ​​0.188 USD.    

 

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