Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/18/2020

Until the end of this week, buyers can continue to grow, but a pullback from the annual zone is expected soonhighs.

BTC / USD

Yesterday the bulls were finally able to break throughresistance 8800.00 USD and update yearly high. The new maximum value was set at 9015.00 USD – this is slightly below our forecast level of 9100.00 USD. 

The magnitude of the rollback was determined more accurately.The level of 8800.00 USD kept the pair from further drawdown and tonight the pair again tried to repeat the re-test of the psychological mark of 9000.00 USD.   

Now trading volumes have decreased significantly andThis morning the pair starts in consolidation at the level of 8800.00 USD. For more than two weeks now, the hourly EMA55 has looked like a fairly strong support for the BTC price. We believe that today it will also reliably keep the pair from falling into the area of ​​8500.00 USD. 

If, with low trading activity, buyers continue to grow, then by the end of the current week the pair may test the area of ​​9200.00 USD. 

ETH / USD

The bulls broke through the resistance level of 61 yesterday morning.8% fib (168.70 USD) and set a new annual high at 174.30 USD. The pullback from the maximum zone stopped only in the area of ​​the hourly moving average EMA55. 

With decreasing volumes, buyers tried to continue growing, but as of this morning they have not yet been able to gain a foothold above the 61.8% Fibonacci level. 

During the day, attempts to consolidate in the maximum zone will continue. However, a retest of the resistance at 176.00 USD may cause retaliatory selling and a decline in the ETH price towards the support at 160.00 USD. 

XRP / USD

Ripple price failed to update its annual high yesterday. At the end of the day, the pair turned around the 0.244 USD mark and rolled back to the support at 0.232 USD overnight. 

Now the decline in this area has stopped and weWe expect that by the end of the week the pair will be able to test the resistance of 0.252 USD. However, a retest of this reversal level could lead to a deeper pullback to the support area of ​​0.220 USD. 

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