Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 03/05/2020

A bullish breakout is still relevant, but delaying consolidation will significantly weaken buyers.

BTC / USD

Yesterday, the price of Bitcoin failed to break above the average price level.The buyers' attempt to overcome the resistance of the three-hour moving average EMA55 ended with a pullback to the POC indicator line (8644.11 USD). 

Tonight, the pair was still able to break through the level of average prices and testMiddle line8970.00 USD.In the morning, buyers do not have enough to break through this levelTechnically, the pair remained in a wide sideways corridor of $8400 – $8970. 

During the day, we still expect support from the lower border of the orange range of 8800.00 USD and a breakout of the "middle line" of 8970.00 USD. 

ETH / USD

The price of Ethereum failed to overcome the resistance of the three-hour EMA55 yesterday morning and rolled back to the lower border of the yellow narrowing corridor. 

Tonight, buyers once again tried to break through the level of average prices, but the volume of purchases was below the average level, so they could not leave the limits of the Pennant pattern until the morning.A breakout of the upper border of this pattern is still relevant. 

We expect the support of 100% Fib (222.98 USD) and a rise to the area of 250.00 USD. 

XRP / USD

Yesterday, buyers were unable to significantly increase volumes, so the price of Ripple did not overcome the level of average prices.The pair remains consolidating in the blue narrowing range until this morning. 

Low buying activity does not allow us to test the level of 0.260 USD yet, but we believe that a breakout is still possible. 

Long-term consolidation may weaken the bullish momentum, and a prolonged sideways will remove the oversold market and form the potential for another bearish momentum.

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