Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 03/21/2020

After a false bullish breakout, prices return to the weekly consolidation area.

BTC / USD

Yesterdaybuyers continued to restore the price of BTC.The growth was supported by volumes above the average level, so we managed to break through the upper border of the descending blue corridor of the downtrend and test the 23.6% fib level (7026.60 USD). 

When the volume of purchases decreased, the price rolled back from a new local high of 7139.00 USD and tried to hold on to the upper limit of the downtrend, but the bears pushed the price below six thousand. 

At night, buyers consolidated above the average levelprices, but we believe that today the decline will continue below the POC line (5348.88 USD), and at the beginning of next week it may reach the lower border of the blue downtrend corridor. 

ETH / USD

Yesterday, buyers organized a re-test of the targetthe resistance level of 50% fib (151.94 USD), which turned the ETH/USD pair down. During the fall, the price of ether tested the support of the 23.6% fib (114.43 USD) and rebounded to the area of ​​the hourly EMA55. 

While trading volumes have decreased, the pair willremain in the area of ​​average prices, but we believe that today the price will continue to decline towards the psychological support of $100 per coin, and by the beginning of next week it will test the support of the zero Fibonacci level (80.90 USD). 

 

XRP / USD

Yesterday morning, buyers continued to restore the XRP price, but the volume of purchases barely exceeded the average level, so the growth turned out to be “lazy” and did not reach our target level of 0.187 USD. 

Before the end of yesterday, the pair tested the POC line (0.148 USD) in decline, from which it rebounded into the area of ​​average prices overnight. 

Today, the pair will return within the lateral range in which it has fought since the beginning of the current week, and by its completion it may roll back to the area of ​​the annual minimum.

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