Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02/12/2020

Yesterday, buyers managed to stop the pullback and continue the bullish run, updating the yearly highs.

BTC / USD

Yesterday, support at 9750.00 USD kept the BTC price from falling further. After minor consolidation at this level  the bulls continued their run. 

A powerful bullish impulse restored the price to the areathe upper border of the ascending green channel and set a new annual maximum in the area of ​​10380.00 USD. The bulls have broken the trend line of the ascending corridor, but due to the overnight pullback, the pair is still held in a narrow consolidation right at the upper border. A shallow pullback indicates a possible continuation of growth. 

Using a twelve-hour chart, you can roughly calculate the area that the bulls will reach if they continue to press. 

In our opinion, when the upper boundary is brokengreen corridor, the price may soon break through the resistance of 10600.00 USD and stop its growth on the way to 11000.00 USD, around the 10950.00 USD mark. 

ETH / USD

Yesterday, buyers defended the level of 217.00 USD and restored the price above the 100% Fibonacci level (222.98 USD). In the evening, a strong bullish impulse broke through the resistance of 233.00 USD, and in the Asian session the growth continued and the price of ether set a new annual high around 248.00 USD. 

On the hourly chart you can discern the completiona slight pullback and recovery to the maximum area. If the bulls can continue their run, the ETH price could reach the purple area of ​​$264 – by the end of the week. $274. In this range, growth will slow significantly. 

XRP / USD

Yesterday, buyers seized the initiative at the orange support level of 0.266 USD and were able to restore the pair to the resistance area of ​​0.280 USD. 

Tonight the growth continued and in the morning the pricehas reached the lower limit of the yellow corridor. If the bulls continue their onslaught, then during the day they will break through the resistance of 0.290 USD and consolidate in the yellow corridor. An update to the annual maximum should be expected in the area of ​​0.300 USD. 

 

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