Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/11/2020

Buyers yesterday took advantage of key support levels, but were unable to overcome the nearest levelsresistance.

BTC / USD

Yesterday, the Bitcoin price tested the gray support zone at 7600.00 USD and began to recover. Several strong bullish impulses brought the pair back into the sideways $8,000 – $8160. 

The daily time frame shows that the recovery took place between two moving averages EMA55 and EMA200, which acted as support and resistance levels. 

At night, buyers even managed to break through the upper resistance line and fix a local maximum in the area of ​​8200.00 USD. 

Trading volumes have decreased in the morning and it is expectedrollback to the Point Of Control line area (7935.28 USD). We believe that today the pair will find support in this area, and the BTC price will be able to consolidate in the $8,000 – corridor. $8160. 

 

ETH / USD

Level 38.2% fib (135.17 USD) provided support to the price of ether yesterday, and buyers successfully restored the price to the resistance of 144.00 USD. At night, the pair broke through this resistance level, but has not yet managed to gain a foothold in the high area. 

Today the pair will roll back to the support of the hourly EMA55 around the 140.00 USD mark. If the pullback takes place on decreasing volumes, then the average price level EMA55 will keep the pair from a deep rollback. 

If the bears increase pressure, then a return to the previous 38.2% Fibonacci level is possible. 

XRP / USD

Yesterday support 0.200 USD stopped the decline in the price of Ripple and turned the pair towards recovery. The recovery was supported by large volumes and late at night reached a maximum in the resistance area of ​​0.215 USD. 

In the morning, a rollback began from the local maximum zone to the four-hour EMA55. We believe that in the area of ​​0.205 USD the pullback will stop and the pair will consolidate in a sideways range. 

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