February 20, 2024

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/07/2020

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/07/2020

Yesterday, growth slowed significantly. Today, a new annual maximum and a reversal to a decline is possible.

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/07/2020

Yesterday, the BTC price continued to grow and the pair updated the yearly high around 9860.00 USD.At night, the volumes decreased, the price of Bitcoin sank slightly, but the upper limit of the orange zone kept it fromdeep pullback. 

Today, we hope for a re-test of the upper border of the green ascending channel.We believe that the pair will not be able to gain a foothold above the level of 10,000.00 USD for a long time and will return to the orange range. 

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/07/2020

Yesterday, the bulls continued their offensive with large volumes, but they managed to break through the resistance level of 217.00 USD only tonight, already on declining volumes.The yearly maximum is set at around 220.00 USD. 

In the morning we see a pullback to level 217.00 USD, but after a break above 200.00 USD, all kickbacks are still quite short. This gives one more reason to hope for today's re-test of the level of 100% Fibo (222.98 USD). We believe that in this area the price of Ethereum may turn around to decline and roll back to the psychological mark of 200.00 USD by the end of the week.

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/07/2020

Yesterday, buyers tried to continue growing, but the price was limited by the upper border of the green ascending channel.Sellers managed to push the price below the support of 0.280 USD for a short time, but buyers continued to test the green border of the corridor with renewed vigor. 

As of this morning, the volume has slightly decreased and the pair has rolled back to the level of 0.280 USD.During the day, the price may retest the resistance of 0.290 USD and reverseto the retracement to the support of 0.266 USD. 

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