Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/22/2020

Since the beginning of the week, the market has been in consolidation and now the probability of a breakthrough has increased significantly.

BTC / USD

Yesterday, trading volumes remained at the average level and the price of BTC remained in a narrow sideways range on the POC line (8646.41 USD).At the end of the day, the pair began to expand the consolidation range and tested the support of 8500.00 USD, and at night, buyers tried to restore the price to the resistance area of 8800.00 USD. 

In the morning, the pair settled slightly above the hourly EMA55 and continuesYesterday's trading was done without sharp impulses, and today the probability of false breakouts increases. 

In case of a bullish breakout, a re-test of the 9000.00 USD level is possible, and fromsellers can expect the long-announced re-test-blue trend line in the area of 8000.00 USD. 

ETH / USD

During the day, buyers could not overcome the 61.8% Fib level (168.70 USD), but late at night they managed to break it and fix a local high around 170.00 USD. 

Since the beginning of this week, a number of rising highs can be traced on the hourly chart, which form aToday, we expect price fluctuations to continue within the green corridor.In case of a bearish impulse, a retest of the support at 160.00 USD is possible. 

XRP / USD

By the end of the day, they managed to push the price of XRP to the support of the four-hour moving average EMA55.At night, buyers returned the pair to the resistance zone of 0.240 USD. 

Today, we hope for the support of 0.232 USD and the pair's recovery to the area of 0.252 USD.If the sellers manage to push through our support, then a pullback is possibleto the level of 0.220 USD. 

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