Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01.20.2020

The pullback from the highs is not over yet, today the decline mayContinue.

BTC / USD

On Saturday, the sentinelThe EMA55 kept the BTC/USD pair declining, and on Sunday night it began to grow, which ended with a new yearly highs in the area of 9200.00 USD. 

At first, the annual rollback was very modest.However, from the level of 9000.00 USD, the bears put so much pressure on the price that in the afternoon the pair tested the area of 8460.00 USD.The Bitcoin price spent the rest of the day in a narrow consolidation at 8640.00 USD. 

Today, the BTC price may continue falling towards 8400.00 USD.At the beginning of this week, the market may retest POC (8069.45 USD). 

For us, the reaction of the blue trend line, which is the upper limit of the downtrend channel, is still important.If in the medium term, the upper border of the channel will not be able to provide support to the price, and the pair will sinkbelow the gray area of 7600.00 USD, the bull run can be considered over at yesterday's yearly high of 9188.10 USD. 

ETH / USD

On Saturday, the bulls took advantage of the support of the hourly moving average EMA55 and broke through the resistance of 176.00 USD.The annual maximum is set at 179.26 USD. 

The ETH/USD pair tried to gain a foothold on the level of 176.00 USD, but on Sunday, a powerful bearish impulse pushed the price below the 61.8% Fib (168.70 USD), setting a local low at 161.53 USD. 

Now the pair has been consolidating around 165.00 USD, but today a decline to the support of 160.00 USD mayWe believe that this level will be able topause the rollback for a while. 

XRP / USD

On Saturday, an attempt to test the resistance of 0.252 USD ended with an update of the 2020 high to 0.254 USD. 

The price of Ripple failed to stay in the high zone, and buyers repeated the retest on SundayHowever, this resistance level reversed the pair into a deeper pullback, which broke through the two-hour average EMA55, setting a local low at 0.226 USD. 

Tonight, the pair settled in the support area of 0.232 USD, but it seems that in the near future the decline will continue to the area of 0.220 USD. 

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