Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/23/2020

Prices on the cryptocurrency market yesterday continued to consolidate in the lateral range. What are the predictions for a breakthrough?

BTC / USD

Yesterday morning, the BTC price held above the hourly EMA55 level, and after a retest of the resistance of 8800.00 USD, sellers pressed the price to the POC line. 

Tonight, the price sank below the Point Of Control line, but the sales volume does not exceedIt is possible that today the pair will continue to consolidate within the sideways range. 

We have already outlined the possible levels of the pair's exit from the flat in our previous forecast: the bulls maybreak through to the psychological level of 9000.00 USD (but they are hindered by the resistance of 8900.00 USD), and the bears are able to test the support of 8000.00 USD. 

According to market sentiment, someadvantage on the side of sellers. Out of support, only a weak green trend line can stop them. However, as the Market Makers actually swing the market and exit the flat, it’s difficult to predict yet.

ETH / USD

In the evening, the pair failed to overcome the resistance of the 61.8% Fib level (168.70 USD), and tonight the price fell out of the lower border of the channel. 

However, the trading volumes are small and the pair still maintains the general market trend, staying within the wide boundaries of the sideways range.We believe that today the consolidation may continue in the area of the hourly moving average, and in case of a bearish breakout, all hope is for the support of 160.00 USD. 

XRP / USD

Yesterday, buyers failed to keep the price above 0.232 USD.At the end of the day, the pair rolled back to the support of the four-hour moving average, to the area of 0.230 USD. 

If this average price level keeps the price of XRP fromfurther decline, the bulls may test the resistance of 0.252 USD.to the 0.220 USD mark. 

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