Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/04/2020

Long-term market consolidation in the mid-price range may lead to a pullback to trend lines support.

BTC / USD

Yesterday sellers sold the watch EMA55 andcontinued to lower the price of BTC to support 9200.00 USD. At the end of the day, a daily minimum is set at around 9211.00 USD. Over the past night, buyers tried to restore the price, but all attempts are limited by the level of average prices. Break above the moving average EMA55 is not yet possible.

Today, it is possible to continue the decline. Sellers can sell support at 9200.00 USD and test the green uptrend line. We believe that it will be able to hold the rollback and help the price return to a wide lateral range between the support of 9200.00 USD and the level of 38.2% Fibo (9441.98 USD).

ETH / USD

Yesterday, trading volumes were quite modest. The price of Ethereum could not continue to grow and fell back to the level of average prices. At the end of the day, sellers pierced the support of the EMA55 and indicated a local minimum around 186.00 USD.

At night, buyers tried to recover the price, butin the morning, the pair is still below average prices. Today, a support breakthrough of 186.00 USD and a re-test of the green support line are possible. This trend line can help buyers with the recovery of the pair to the level of 78.6% Fibo (192.57 USD).

XRP / USD

Yesterday, the XRP price could not gain a foothold above the support of 0.252 USD. The pair indicated a daily low at 0.246 USD and at night tried to recover to its previous level.

It is not yet possible to succeed, but we believe that after a re-test of the lower border of the green ascending channel, buyers can increase activity and test the resistance of 0.266 USD.

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