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 / USD

Yesterday, BTC price growth continued and the pair updatedannual maximum around 9860.00 USD. At night, volumes fell, the price of Bitcoin sank a little, but the upper border of the orange zone kept it from a deep pullback.

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

ETH / USD

The bulls continued their offensive yesterdayin large volumes, however it was possible to break through the resistance level of 217.00 USD only tonight, already at declining volumes. The annual maximum is set 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 / USD

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

This morning the volumes decreased slightly and the pair again rolled back to the level of 0.280 USD. During the day, a resistance re-test of 0.290 USD is possible and a reversal in the rollback, to the support of 0.266 USD.

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