Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 03/12/2020

During the Asian session, the bears pushed through the current support levels, and today prices will update their March lows.

BTC / USD

Yesterday's attempt by buyers to restore the priceabove the psychological level of 8000.00 USD did not achieve success. At the end of the day, this resistance turned the pair downward, and in the morning the Bitcoin price again rolled back to the gray support zone of 7610.00 USD. 

The pressure from the bears is quite strong. Sellers can today break through the lower border of the narrow support zone and roll back the pair to the area around the 7300.00 USD mark.  

We believe that the 23.6% fib level (7026.60 USD) will stop the price fall and allow the pair to settle in a wide sideways range.  

ETH / USD

There was no recovery in the price of ether yesterdaysupported by large volumes. Buyers failed to break through the hourly EMA55 level and the price fell below the two hundred dollar mark. The bears' pressure was so strong that they managed to push through the 78.6% fib level (192.57 USD) and update the March low around 180.00 USD. 

As of this morning, sales volumes have significantlydecreased, but the price continues to decline and may reach the support of 61.8% fibo (168.70 USD) before the end of the day. This level will stop the decline in Ethereum price. 

XRP / USD

Yesterday, the price of Ripple was unable to continue its recovery. The bears pushed through the support of the hourly EMA55 and rolled the pair below the psychological level of 0.200 USD. 

Today, a breakout of the support at 0.188 USD and an update of the monthly minimum in the area of ​​180.00 USD is possible. At the end of the day, we expect a rebound from the minimum zone. 

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