Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02.01.2020

Bulls still have a chance to recover the market, but if sellers break through key support levels, thenprices will roll back below December lows.

BTC / USD

On the last day of the year, the price of BTC was stuckin consolidation above the POC line (7201.87 USD). Trading volumes have decreased noticeably, and the pair is located in a narrow side corridor. Buyers' opportunities were limited by the two-hour moving average EMA55, and by midnight sellers pushed the price to the support of 7166.00 USD.   

The new year 2020 began with the pair recovering from the support level to the area of ​​average prices. The recovery was not supported by large volumes and went sideways on the Point Of Control line. 

Tonight the price rolled back to the lower borderside range 7166.00 USD, but in the morning trading picked up, and sellers pushed through this support. However, the bears have not yet been able to test the key 23.6% Fibonacci level, and this still preserves the bulls' chances of re-testing their target levels.   

During the day, bears may come close tothe 23.6% fibo level (7026.59 USD), and there is a high probability of a breakout of this key support. In this case, in the near future we will see a rollback into the purple range of $6100 – $6800. 

ETH / USD

At the end of 2019, the Ethereum price recorded a local minimum in the area of ​​support of the Point Of Control line (127.24 USD). 

From the first minutes of the new year, buyers began to restore the pair above the average price level. However, this morning the pair returned to supporting the POC line. 

Sellers have not yet tested support for 122.00 USD, chances for a re-test of bullish target levels remain, but now there is a high probability of a rollback of the ether price to the area of ​​​​December lows. If the bears increase pressure by the end of the week, the pair will test the 23.6% fib level (114.43 USD). 

XRP / USD

Until the end of 2019, the XRP/USD pair was unable to stay at the level of average prices and rolled back to the area of ​​0.190 USD. 

On New Year's Eve, trading took place at low volumes, and buyers restored the price above the downward trend line, but currently the pair has returned to the weekly minimum area of ​​0.190 USD. 

Now the decline is limited by the blue trend line, and if it keeps the pair from falling further, then buyers could test the resistance of 0.200 USD. 

However, sellers can sell today.support the trend line and roll back the pair to the level of 0.185 USD, and the further domination of the bearish mood in the market will contribute to the rollback of the Ripple price below the annual minimum of 2019, which is set on December 18 at 0.175 USD.

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