Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/11/2020

Will the next support levels keep the market from deep pullback?

BTC / USD

Yesterday, the bears pushed throughpsychological support at 10,000.00 USD and pushed the BTC price towards the two-hour EMA55.Until the end of the day, the EMA55 moving average kept the pair in a narrow consolidation at the level of average prices.In the Asian session, the decline continued towards the weak support of 9750.00 USD. 

The Stoch RSI indicator lines have left the overbought zone, the market has unloaded a little and there is a potential for resuming growth.We believe that the decline may continue to the stronger support area of the marketIn this range, some price consolidation is possible. 

ETH / USD

Yesterday, sellers increased the pressure and pushed through the 100% Fib level (222.98 USD).The Ethereum price broke through the support of 217.00 USD, setting a local low around 213.00 USD, but was able to stay above the average price level until the end of the day. 

At night, on low volumes, buyers tried to continue the recovery, but failed to break through the resistance of the 100% Fibonacci level, so the pair spent until the morning in a narrow range between this resistance and the two-hour EMA55. 

If the bearish pressure increases, a breakout of the key support level of 217.00 USD and a pullback are possibleto the psychological mark of 200.00 USD. 

If buyers defend the average price level, then the bulls will have a potential opportunity to test the resistance at 233.00 USD.  

XRP / USD

The bears' pressure intensified yesterday and they were ablepush through the two-hour EMA55 level. After a re-test of support at 0.266 USD, the decline stopped, but buyers were unable to recover above the average price level. 

If sellers continue pressing, they will push through the support of 0.266 USD and test the lower border of the ascending green corridor. 

If buyers are able to seize the initiative at the orange support level (0.266 USD), they will restore the XRP price to the resistance of 0.280 USD, and the pair will consolidate in a wide sideways range. 

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