Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/28/2020

Tonight the price of BTC broke through the psychological level of 9000.00 USD. After some pullback, price increases maycontinue.

BTC / USD

Yesterday the green trend line coped withsupport for the BTC price and in the evening buyers already tested the resistance at 8800.00 USD. At the end of the day, a strong bullish impulse broke through this resistance, and at night, buyers continued to increase their momentum and broke through the psychological level of 9000.00 USD. 

The morning maximum is set at 9150.00 USD. If we look at the six-hour chart, we see that the Stoch RSI indicator lines are going off scale in the overbought zone. To continue growth, a pullback and some price consolidation are necessary. 

If the bulls are no longer able to increase volumes, the price will roll back to the area of ​​8900.00 USD. After short-term consolidation, growth will continue to the 38.2% fib level (9441.98 USD). 

ETH / USD

Yesterday in the first half of the day the price of ether rolled backto the level of average prices, but in the second half of the day buyers were able to restore lost positions and consolidated above the 61.8% fibo level (168.70 USD). In the evening, the growth continued, and in the morning the pair set a local maximum around 174.00 USD. 

Now trading volumes are not too large, andif they begin to decline further, the price may again roll back to the support of the 61.8% fibonacci level. This will slightly relieve the overheating of the market and the price of Ethereum may continue to rise above the resistance of 176.00 USD. We believe that the weekly highs will lie above the POC line (183.41 USD). 

XRP / USD

Yesterday afternoon, the price of Ripple sank to the level of 0.225 USD, but by the evening the pair quite vigorously recovered to its previous level, to the resistance of 0.232 USD. 

Trading volumes gradually increased at nightbuyers broke through this resistance and tested the POC line (0.234 USD). If buyers can use the level of 0.232 USD as support, then growth will continue to the resistance area of ​​0.240 USD.

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