Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/08/2020

Yesterday, buyers were not able to achieve significant success, but there was still room for price increases.

BTC / USD

Yesterday, the BTC price was unable to continue its growth and consolidated in a narrow range, around the 9800.00 USD mark. 

This morning the pair rolled back to the upper limit of the orange range, but buyers were able to prevent a deeper rollback into the orange corridor. 

We believe that the bulls have not yet given up desireto renew the annual maximum in the area of ​​the psychological mark of 10,000.00 USD. Due to yesterday's consolidation, the indicator lines left the overbought zone, opening up new growth potential for the price. But will buyers have the strength to break through the resistance of 10 thousand dollars today?

ETH / USD

Yesterday, buyers managed to test the target level of 100% fibo (222.98 USD) and update the annual maximum at 224.44 USD. 

Further attempts to gain a foothold above this levelresistance led to a pullback below the level of 217.00 USD. However, the price of ether was able to catch on to this support and today is again trying to break above the 100% Fibonacci level. 

If the bulls are able to form a powerful impulse, then a breakthrough to the area of ​​233.00 USD is possible, but it will not be possible to gain a foothold in the area of ​​the yearly high and the pair will roll back to the support area of ​​200.00 USD. 

XRP / USD

Yesterday morning the XRP/USD pair broke through the upperthe border of the ascending green corridor and set the annual maximum at 0.288 USD. During the day, trading volumes began to decline and the pair gradually rolled back below the level of 0.280 USD. 

Overnight, sellers tested the support at 0.266 USD, which limited the pullback and opened up a new opportunity for buyers to test the resistance at 0.290 USD. 

Will buyers be able to take the chance tobreak through the powerful resistance of the lower border of the yellow corridor – It's not clear yet. We believe that at the beginning of next week the pair will begin a rollback to the lower border of the green ascending channel.   

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