Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/21/2020

Yesterday prices remained in a sideways range. A false breakout is possible today.

BTC / USD

Yesterday the auction took placecalmly, at medium volumes.Sellers tried to push the POC line (8632.49 USD), but buyers did not allow the price to fall below 8500.00 USD. Before the end of the day, the pair recovered to the Point of Control line. 

Tonight, on declining volumes, buyers tried to continue the recovery, but were unable to rise above the hourly EMA55. Until the morning the couple remains in a fairly narrow sidewall. 

Today, during the day, a false bullish breakout to the area of ​​8900.00 USD is possible, after which the price will return to the sideways range on the Point Of Control line. 

For us, the rollback is still of interestprices in the area of ​​the blue trend line (8000.00 USD), since support for the upper boundary of the descending channel is extremely important for the continuation of the bullish run, which ended in the area of ​​the yearly high of 9200.00 USD. 

ETH / USD

Yesterday morning the sellers ownedinitiative and were able to squeeze the price of ether from a narrow consolidation at the level of 165.00 USD to a minimum, at the point of 160.90 USD. Buyers did not give the opportunity to test the support of 160.00 USD and seized the initiative, restoring the pair to the hourly EMA55 level. Tonight they even tried to break through the 61.8% fib resistance (168.70 USD). 

During the day, attempts to break above this levelFibonacci will repeat. We believe that a false breakout to the area of ​​173.00 USD is possible. However, the ETH price is likely to return to a narrow sideways range at 165.00 USD. 

XRP / USD

Yesterday sellers set the daily low at0.224 USD. Before the end of the day, buyers were able to restore the price to the previous level, to the support of 0.232 USD. At night, the recovery continued and the pair broke through the resistance level of the hourly EMA55. 

We believe that today, after a high around 0.250 USD, the XRP/USD pair will return to the average price level. 

 

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