October 4, 2024

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.01.2020

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.01.2020

Today the market decline will slow down and prices will move towards consolidation.

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.01.2020

Market decline yesterdaycontinued to the two-hour moving averageEMA55 (7800.00 USD). This level of average prices stopped the pullback and gave buyers the opportunity to recover to 8000.00 USD, but they failed to gain a foothold at this level. 

BTC price was able to consolidate in a narrowthe range is only in the region of the mark of 7770.00 USD. Now the trading volumes have decreased, and for a while the pair will hold out in this area, but at the end of the day, the decline may continue to the gray zone of 7600.00 USD.

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.01.2020

Bears yesterday tested the 38.2% fib level (135.17 USD), but the Ethereum price rebounded above the four-hour EMA55. The pair was unable to stay above the average price level until the morning. 

Tonight, the decline continued into the zoneyesterday's low. We believe that with low trading activity, the 38.2% Fibonacci level will again support the price of ether and the pair will consolidate in the lateral range until the end of the day.

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.01.2020

Trading volumes for Ripple yesterday were ataverage level and such activity was maintained by market participants throughout the day. The price of the asset was slowly declining, so sellers were able to test the support of 0.200 USD only this morning. 

This level stopped the decline and volumes began to decline. We believe that today the price of XRP will consolidate in the support area of ​​0.200 USD. 

  

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