Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 02.28.2020

The decline in prices has stopped, and today the market is expected to consolidate.

BTC / USD

Yesterday, buyers foundforces to restore the price of BTC to the midline of the range of $8800 – $9200.The level of 8970.00 USD limited the daily upside, and now the pair is trying to consolidate in the lower part of the range. 

If the lower border of 8800.00 USD can act as a reliable support for buyers, then the recovery will continue to the upper border of the range of 9200.00 USD. 

The likelihood of increased pressure from the bears today is quite low.If active, the price will retrace to the area of 8400.00 USD. 

 

ETH / USD

Yesterday morning, the orange level of 217.00 USD kept the pair from further decline, and buyers were able to recover the price of Ethereum.In the evening, the pair tested the level of 233.00 USD and began to consolidate in a narrowing range. 

We believe that today the sideways movement of Ether will be limited by the support of 217.00 USD and the resistance of 233.00 USD, and the middle line will bePOC line (228.62 USD). 

If buyers are able to increase the volume of purchases, they will soon be able to break out of the sideways trend and test the level of average prices in the form of the two-hour EMA55. 

XRP / USD

Yesterday, buyers recovered the price slightly above the level of 0.240 USD.Further recovery is still difficult, and it seems that today the pair will beis flat, gradually narrowing the consolidation range to 0.240 USD. 

If the volume of purchases can be increased, then buyers will break through the level of average prices and try to test the resistance of 0.266 USD.

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