Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01.25.2020

Yesterday, sharp bullish momentum attempted to break the string of declining highs, but we believe that beforeend of the week decline will continue

BTC / USD

Yesterday morning, the price of BTC continued to decline.On decreasing volumes, the price slid towards the support of 8160.00 USD, however, around the 8200.00 USD mark, a desperate bullish impulse tried to reverse the pair and restore it to the average price level. 

Trading volumes increased sharply, and by the evening the pricehas already consolidated above the hourly EMA55. At night, volumes began to fall; it was not possible to maintain consolidation above the average price level. After another re-test of the green trend line, resistance in this area again pushed the pair back down, and in the morning the price rolled back to the area of ​​8300.00 USD.  

Today the decline will continue to support 8160.00 USD, and at the end of the current week the pair may consolidate in a narrow corridor of $8000 – $8160. 

ETH / USD

Yesterday morning, sellers on small volumes continueddecline and set a local minimum around 155.00 USD. In this area, sharp bullish momentum shook up the sleepy Ether market and restored the price to the level of average prices. 

When volumes decreased, some price growth continued until the end of the day, breaking through the resistance of the moving average EMA55. 

However, at night, stay above average pricesfailed. The price of ETH has dipped below the support of 160.00 USD and is trying to gain a foothold in the area of ​​the POC line. We believe that today the decline will continue to the indicated support level of 50% Fibo (151.94 USD).

XRP / USD

Yesterday the bears updated their weekly low at0.213 USD. In the afternoon, a strong bullish impulse brought the Ripple price to the hourly EMA55. However, the pair was unable to overcome the moving average level. 

At night, the pair again sank below 0.220 USD. In the morning, attempts by buyers to restore the price were recorded, but the level of 0.220 USD limits their possibilities. 

Today, the decline is likely to continue towards the 0.210 USD mark, and on Sunday the XRP price may update the weekly low to 0.200 USD.  

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