Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01.24.2020

Bears knocked the market out of the weekly sideways, and today the decline will continue to the nearest support levels.

BTC / USD

Yesterday morning, the bears pushed the price of BTC to the bottomthe border of the lateral range is 8500.00 USD. Buyers resisted the onslaught for some time, but then the sellers managed to increase volumes and force the pair out of the side with a strong impulse.

The upward green trend line was only able to temporarily stop the decline. In the afternoon, the decline continued to the area of ​​8300.00 USD.

Tonight, buyers tried to interceptinitiative and restore the pair to the green trend line, but it worked as resistance and beat the price back to the mark of 8300.00 USD. In the morning, the decline will continue to the blue trend line and may significantly slow down in the support area of ​​8160.00 USD.

We are interested in whether the upper bound canthe downward channel to keep the price from further lowering into the corridor of the semi-annual down trend. The dynamics of the pair for a long period of time will depend on this in the future.

The answer to this question can last until the end of next week if the bears ease the pressure and the pair again hangs in the side corridor of $ 8000 - $ 8160.

ETH / USD

Yesterday trading volumes on air were on averagelevel, and without much effort, sellers pushed support at 160.00 USD. At night, on declining volumes, buyers tried to restore the pair to the level of average prices, but could not test the hourly moving average EMA55.

In the morning, the price of ETH again fell below support of 160.00 USD and today the decline may continue to the level of 50% Fibo (151.94 USD).

XRP / USD

Yesterday, the four-hour EMA55 could not withstand the onslaughtsellers and the price of XRP slipped to the support of 0.220 USD. In this area, buyers tried to keep the pair from further lowering and overnight restored the price to the level of 0.227 USD, but this morning the price has returned to the support of 0.220 USD again.

We believe that during the day the decline will continue to the level of 0.210 USD, and by the end of the week the pair XRP / USD will be able to test the level of 0.200 USD.

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