Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 03/23/2020

In the first half of this week, the market may decline to the area of ​​the annual minimum.

BTC / USD

On SaturdayThe BTC/USD pair remained in a sideways range above the hourly EMA55, and on Sunday sank below the average price level. 

At night, sellers pushed the price lowerpsychological mark of six thousand dollars, and this morning's attempt by buyers to recover to the area of ​​average prices was not supported by volumes and looks too weak. 

During the day, there is a possibility of an increase in purchase volumes, but will there be enough strength to gain a foothold above the hourly moving average EMA55 – It’s hard to say for now. 

If buyers cannot overcomepsychological barrier is 6000.00 USD, then our scenario of continuing the rollback below the POC line (5348.88 USD) remains relevant. Otherwise – the decline will continue after a re-test of the upper border of the blue descending corridor. 

ETH / USD

Ethereum price failed to gain a foothold over the weekendabove the 38.2% fib level (135.17 USD) and fell below the POC line (128.66 USD). At night, sellers fought off a frankly weak attempt by buyers to break above the average price level. 

It is possible that today's buyers will repeatrecovery to the hourly EMA55 area, but we believe that now it will be quite difficult to seize the initiative from sellers, and the price will continue to decline towards the support of 23.6% fib (114.43 USD). 

XRP / USD

Over the weekend, the pace of the Ripple price pullback slowed down a bit, and the pair is currently back within the sideways range in which it has been struggling since the beginning of last week. 

If buyers fail todayrecover above the hourly EMA55, then the price will try to consolidate in consolidation at the POC line (0.148 USD). In the first half of this week, we expect a continued decline towards the annual minimum. 

  

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