Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 03/11/2020

Today, some market recovery is possible, but will buyers be able to stay above the average level?prices?

BTC / USD

Yesterday morning, buyersrestored the price to the psychological level of 8000.00 USD. During the day, on medium volumes, they pierced this level, but the bears repelled the timid advance of the bulls, and the price returned to the gray support zone. While trading volumes have fallen below average, the pair is consolidating below the eight thousand mark. 

Today is another attempt by buyers to break throughthis psychological resistance can lead the Bitcoin price to the area of ​​8300.00 USD. Until the end of the day, the pair is not able to stay above the level of $8,000 per coin. 

Declining trading volumes will weaken the positions of buyers and the price will again roll back to the support of 7610.00 USD. 

ETH / USD

Yesterday the price of Ethereum consolidated in a narrowconsolidation over psychological support 200.00 USD. In the afternoon, the bears tried to push buyers back to the 78.6% fib level (192.57 USD), but in the Asian session the price was able to recover to its previous level. 

Today buyers will try to testresistance 212.00 USD. The hourly moving average EMA55 is in the area of ​​205.00 USD. To overcome this level of average prices, buyers need to significantly increase their activity. 

If the recovery takes place on small volumes, then it will not be possible to stay above the average price level and the pair will roll back below the two hundred dollar mark. 

XRP / USD

The price of Ripple was able to hold at the hourly EMA55 level yesterday (0.210 USD). The bears' attempt to roll back the price to the support of 0.200 USD did not achieve the goal. 

Today buyers intend to overcome the levelaverage prices and test the resistance of 0.219 USD. We believe that in this area sellers will be able to seize the initiative and return the price below the moving average EMA55. 

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