Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02.26.2020

Yesterday, bears dominated the market and managed to push prices below current support levels. From whichlevels should we expect consolidation?

BTC / USD

Yesterday, the bears broke through the lower boundary of the orange range, and the price of BTC began to fall rapidly. 

In the evening in the 9300 area.00 USD, the decline slowed down significantly, however, during the Asian session, sellers continued their onslaught and, having overcome the upper border of the corridor, entered a wide sideways range of $8800 – $9200. 

Today, intense decline will slow in the area.the middle line of this corridor (8970.00 USD). After a re-test of the lower border, buyers will appear who can restore the pair, and the price will consolidate within a wide range.

ETH / USD

Sellers increased pressure yesterday, and the price of etherdropped significantly. At the end of the day, buyers tried to stop the decline in the area of ​​250.00 USD, but tonight the fall continued and the bears broke through the green support trend line. 

During the day the price will reach the support level of 233.00 USD. The decline will slow in this area. We believe that a significant recovery can be expected only after a re-test of the 100% fib level (222.98 USD). 

 

XRP / USD

Yesterday morning the price tried to stay in consolidation at the support level of 0.266 USD, but a strong bearish impulse pushed through this level. Tonight the price tested the POC line (0.236 USD). 

The local minimum is indicated at point 0.233 USD, and in the morning the pair is trying to consolidate in a narrow range around the 0.240 USD mark. We believe that the pair will not be able to stay in this range for long and the decline may continue to the support area of ​​0.219 USD. 

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