Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02.22.2020

Buyers cannot yet gain a foothold in the area of ​​average prices. There is a high probability of continued decline.

BTC / USD

Yesterday trading was sluggish, with volumes below average. Buyers were unable to overcome the two-hour EMA55, and the price consolidated above the upper limit of the orange range. 

If today buyers find support at the level of 9640.00 USD, they will try to restore the price to the lower trend line of the ascending green corridor (around the 10,000.00 USD mark). 

If trading volumes continuedecline, then the price of BTC will enter the orange corridor and will be able to remain there in consolidation for some time. At the end of the current week, a bearish breakout of the 38.2% fib level (9441.98 USD) is possible, which will stop in the support area of ​​9200.00 USD. 

ETH / USD

The price of ether yesterday failed to gain a foothold in the purple side corridor. 

Buyers managed to pierce the lower borderthis corridor, but bears do not allow to gain a foothold at the level of average prices. Most likely, today the price will roll back to the level of 233.00 USD. In this area, there is a green trend support line that could keep the pair in an uptrend.

XRP / USD

Yesterday morning, shoppers returned to the bordersascending green corridor and tried to test the two-hour moving average EMA55. Trading activity was below average, and the XRP price failed to overcome the resistance level of 0.280 USD. 

As of this morning, the pair has retreated to supportthe lower border of the ascending channel. So far there is no strong pressure from sellers – the price will be in the green corridor. If the bears are able to push through this support, the pair will roll back to the POC line (0.236 USD). 

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