Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/06/2020

Yesterday the bulls updated their annual highs. To what level can growth continue this week?

BTC / USD

Yesterday buyers broke above the average levelprices and continued to increase purchase volumes. At the end of the day, they managed to break through the upper limit of the orange range and update the yearly high to 9775.00 USD. 

At night, trading activity decreased and the pairfell back into the orange range. The depth of the rollback is small, so we can expect a breakout of the resistance at 9630.00 USD and continued growth towards the psychological mark of 10,000.00 USD. Approximately in this area is the upper border of the ascending green channel, which can keep the price in this corridor. 

If today the bulls fail to break through the resistance of 9630.00 USD, the price will roll back a little deeper, to the lower border of the orange zone (to the area of 9400.00 USD). 

ETH / USD

Yesterday, the bulls broke through the 78.6% Fibo level (192.57 USD) and easily overcame the resistance of the psychological level of 200.00 USD.A new yearly high was set at 208.00 USD. 

At night, when the volumes fell, the pair slightly rolled back, but the price was able to stay above the psychological mark “two hundred bucks aired" 

Stoch RSI indicator lines have entered the zoneoverbought and expected to decline soon. However, if the bulls continue their aggressive attack, the price will first test the resistance in the area of ​​217.00 USD and only then roll back to the support level of 200.00 USD.  

XRP / USD

Yesterday the XRP price reached level 0.280 USD, but until the end of the day it was not able to gain a foothold above it. Tonight, buyers managed to break above this resistance and test the upper limit of the green ascending channel. The annual maximum was recorded at 0.286 USD. 

In the morning, the pair rolls back from the maximum zone, and most likely, the level of 0.280 USD will act as a support.

We believe that by the end of the week the bulls can stillcontinue the race and update the annual maximum to the level of 0.290 USD. Above this mark is the yellow corridor, which has the feature of holding the Ripple price in a wide lateral range for a rather long time. We believe that the lower limit of this range (0.290 USD) will not let buyers into the side corridor and will deploy a pair of XRP / USD to decrease.

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