Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/06/2020

Will the bulls be able to continue rising and test their target levels?

BTC / USD

Saturday coupleconsolidated in a sideways range withsupport on the POC line. On Sunday, on medium volumes, buyers were able to take the price beyond the upper border of the sideways band (7400.00 USD) and tried to gain a foothold above it. When volumes dropped below average overnight, the price of BTC immediately began to decline until it met support at the two-hour EMA55. 

Overnight, buyers were able to increase volumes and correct the situation. As of this morning, the pair tested the gray resistance area around the 7600.00 USD mark. 

On the daily time frame, it can be seen that the moving average EMA55 passes through the gray area and limits the efforts of buyers to break through to the psychological level of 8000.00 USD. 

If the bulls can break through the daily EMA55, thenIn the medium term, there will be an opportunity to test the target bullish level of 8000.00 USD. In this case, the monthly maximum is expected in the area of ​​the daily EMA200, which is at the resistance level of 8160.00 USD. 

However, if the bears are at the level of the daily EMA55seize the initiative and resume strong pressure, then buyers will not be able to pass through the gray resistance zone, and the cryptocurrency flagship will roll back below the key support of 6800.00 USD. 

ETH / USD

On Saturday, trading on Ethereum took place at low volumes and buyers were unable to break through the upper limit of the side range in the form of the 38.2% fibo level (135.17 USD). 

However, on Sunday, buyers managed a littlerevive trading and gain a foothold above the upper border of the side corridor. Tonight it worked well as support, and in the morning buyers restored the ETH price to the area around 140.00 USD. 

Trading volumes are not yet stable, and at eachWith a reduction in buyer activity, the price of ether decreases. At the beginning of this week, we are counting on a re-test of the resistance at 144.00 USD, but if the cryptocurrency flagship has problems in the gray resistance area, then the ETH/USD pair will also not be able to stay in the high zone, but will roll back below the Point Of Control line (127.12 USD ). 

XRP / USD

On Saturday, the two-hour EMA55 provided the pairXRP/USD supported and kept the Ripple price from declining. On Sunday, buyers were able to break through the resistance of the POC line and gain a foothold above it in consolidation. 

Over the past weekend, the bulls failedtest the level of 0.200 USD, but there are still chances for a maximum in this area. If you fail to gain a foothold above this resistance, the pair will roll back below the Point of Control line (0.193 USD). 

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