Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/16/2020

Yesterday, the bulls could not continue the race. Can average price levels keep the pair from further decline?

BTC / USD

Yesterday, the bulls tried to continue rising the price of BTC, but were unable to gain a foothold in the yearly high zone. 

Tonight the pair rolled back to hourly supportEMA55, which barely holds the price in the area of ​​8600.00 USD. Our yesterday's forecast regarding a rollback to the blue trend line in the area of ​​8160.00 USD is still relevant. 

If the upper boundary cannot keep the pair from a deeper rollback into the blue descending channel, then it is too early to talk about a change in the downtrend.    

ETH / USD

Yesterday, support at 160.00 USD stopped the decline in the price of Ethereum. Buyers tried to break above the 61.8% fibo level (168.70 USD), but were unable to gain a foothold above this resistance. 

Now the price has fixed at the hourly EMA55 level (around 160.00 USD). If the support does not withstand the pressure of sellers, the pair will roll back to the 50% fib level (151.94 USD). 

 

XRP / USD

Buyers yesterday tried to restore the price of XRP to the yearly high. In the evening, the price broke through the level of 0.240 USD, but sellers rolled the pair below the support level of 0.232 USD. 

Rollback only stopped this morning onlevel of a two-hour moving average EMA55. If this level of average prices keeps the pair from further decline, then a resistance re-test of 0.252 USD is possible.

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