Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02.24.2020

Now the market is consolidating in the field of average prices, but will buyers be able to stop the decline that has begun?

BTC / USD

On Saturday, buyers found support at the level of 9640.00 USD, and on Sunday they broke through the level of 10,000.00 USD and tested the lower trend line of the ascending green channel. 

At the end of the day the price pulled back a little, and the shortthe pullback gave hope for a breakout of the lower boundary of the ascending corridor, but at the Asian session, a repeated attempt ended with a bearish impulse, which returned the pair below the level of the two-hour EMA55.  

Today in decline, the BTC/USD pair has alreadytest the support of the orange corridor, but in the morning the price rebounded to the area of ​​average prices. Today the Bitcoin price is expected to return to the orange range. If sellers do not allow the pair to gain a foothold in consolidation and push through the lower boundary of the range, then the price may roll back to the support of 9200.00 USD. 

ETH / USD

Over the weekend, the ETH/USD pair held in the two-hour EMA55 area and buyers restored the price of ether into the purple sideways range. 

On Sunday, the price of Ethereum broke through the upperthe border of the range, but it was not possible to get out of the sideways trend. Tonight, buyers on decreasing volumes again tried to break through the resistance of 274.00 USD, but sellers returned the pair to the area of ​​average prices. 

Currently the moving average EMA55 is holding the pair atpurple sideways, but if the bears continue to press, they may push the pair below the level of 264.00 USD and test the reliability of the support of the green trend line. 

XRP / USD

Over the weekend, the lower boundary of the green range kept the XRP/USD pair in an upward channel. 

On Sunday, buyers were able to gain a foothold abovelevel of 280.00 USD, but tonight, on modest volumes, sellers managed to organize a bearish impulse that pierced the support of the lower trend line. 

During the day, the price may roll back to the orange support at 0.266 USD. If bearish pressure intensifies, the rollback will continue to the area of ​​the POC line (0.236 USD). 

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