Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 01/30/2020

Yesterday the bulls were unable to continue their growth. Sellers rolled back the pairs below the average price level. Will they be able to todaydo shoppers resume hike to new annual highs?

BTC / USD

Yesterday trading volumes were below average.Buyers tried several times to break above the 38.2% fibo level (9441.98 USD), but were unable to overcome the resistance of the lower boundary of the orange area. At the end of the day, they managed to break through the 38.2% Fibonacci level and set a yearly high at 9443.96 USD. 

At night, volumes decreased and the pair rolled back to the support area of ​​9200.00 USD. This morning, from this level, buyers intend to continue trying to overcome the orange resistance area. 

A successful attempt could lead to a retest of the upper boundary of the 9630.00 USD area. If it is not possible to increase volumes, then we should expect a rollback to the area of ​​average prices. 

 

ETH / USD

Yesterday in the morning, on the contractingvolumes, buyers set a weekly high at 178.30 USD. For several hours in a row, the bulls tried to update the previous yearly maximum of 179.26 USD, but the strength of buyers dried up and sellers kept this level untouchable. 

Bear pressure in the afternoonstrengthened, and the pair rolled back below the support of 176.00 USD. At night, the decline continued to the hourly EMA55 level. The breakout of this support level cast doubt on the possibility of a morning recovery. 

However, this morning, buyers managedgain a foothold above average prices. We believe that today attempts to renew the annual maximum will be repeated. The growth level is likely to reach the area of ​​183.00 USD. If the bullish momentum is supported by large volumes (which is less likely), then a resistance re-test of 186.00 USD is possible.

XRP / USD
 

Yesterday buyers were unable to gain a foothold in the zonesupport 0.240 USD. The bears pushed the XRP price to the hourly EMA55 level. At night, the decline continued below the level of average prices and stopped only in the green support area of ​​0.232 USD. 

We believe that this morning buyers will be able to completely restore the price to the previous level of 0.240 USD. But the continuation of growth to the area of ​​0.252 USD is in doubt. 

Most likely, the pair will consolidate sideways, around the POC line (0.236 USD). 

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