Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/10/2020

Despite the severe overheating of the market, growth can still continue.

BTC / USD

On Sunday the price of BTCcontinued to grow and broke through the psychological mark10,000.00 USD. The growth continued until the upper boundary of the ascending green channel. After the high at 10178.00 USD, there was a slight pullback. The price of Bitcoin was able to stay above the level of 10,000.00 USD and resume growth at night. 

However, the bull run is still limited by the upper limit of the green corridor. The annual maximum was only updated to the level of 10200.00 USD. 

This morning, sellers' efforts to return the pair toThe average price area holds the psychological level, so the pullback seems quite short. If the bears push through the psychological support, then the two-hour moving average EMA55 could support the price.  

A short rollback allows us to hope that inthe first half of the week, growth may continue to the area of ​​10600.00 USD. The market will overheat even more, the Stoch RSI indicator lines on the daily time frame will read off 100%, and the subsequent decline in the price in the orange region will be sharp and dynamic.

ETH / USD

Over the weekend, the price of Ethereum was able to consolidate above the 100% fibo level (222.98 USD) and update the annual maximum around the 230.00 USD mark. 

Morning attack of sellers repulsed at 100% levelFibonacci, but the bears were still able to break through this support. If the price continues to hold above this level, the growth will continue and the bulls will break through the resistance of 233.00 USD. 

If the bears increase pressure and are able to roll back the pair to the area of ​​​​average prices, then the further bullish run will entirely depend on the support of 217.00 USD. 

XRP / USD

On Sunday, the price of Ripple tested the lower limit of the yellow corridor of 0.290 USD, setting a yearly high there. 

According to our forecasts, the price of XRP has indeed turned downward, but the efforts of sellers are so far limited to the two-hour EMA55. 

If the bears increase pressure and push through the average price level, the pair may roll back below the support of 0.266 USD, to the area of ​​the lower border of the green ascending channel. 

     

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