Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/07/2020

Can bulls play the final chord in local market recovery today?

BTC / USD

Yesterday buyers all day trying to overcome the grayresistance zone 7600.00 USD. Only late at night, due to a strong impulse, the bulls managed to break through the upper border of the zone 7640.00 USD and test the psychological level of 8000.00 USD.

In the morning, the pair rolled back to the area of ​​7830.00 USD and the decline stopped.

We believe that the bulls are preparing for the assault on the daytime EMA200,which runs at the resistance level of 8160.00 USD. Most likely, buyers will not be able to gain a foothold above this level and the bulls will retreat to the POC line (7991.31 USD).

ETH / USD

Yesterday, buyers began to increase their purchases and gradually approached the resistance of 144.00 USD during the day.

We managed to test this level only late at night. After the maximum at the point of 145.20 USD, the volumes decreased, and the price of ETH rolled back to the area of ​​142.00 USD.

Today another buyers attempt is possiblegain a foothold above the resistance of 144.00 USD. The daily maximum can be fixed at 148.00 USD, but the pair will not be able to stay above 144.00 USD, and will soon roll back to the two-hour moving average EMA55.

XRP / USD

Yesterday, buyers, inspired by the assurances of Ripple CEO Brad Garlinghouse that the company does not intend to dump the XRP price, significantly increased the purchase volumes of this crypto asset.

In the afternoon, before the start of the growth of the entire cryptocurrency market, a coupleXRP / USD broke through the key resistance of 0.200 USD and completed growth late at night at a maximum of 0.226 USD. This morning, the volume of purchases decreased and the price dipped below the support of 0.219 USD.

We believe that the daily EMA55 will support the pair and limit its decline. Consolidation is possible at the Point Of Control line level (0.220 USD).

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