October 25, 2020

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.16.2019

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.16.2019

Yesterday's price decline has been suspended, but the pair will not be able to gain a foothold at current levels.

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.16.2019

Yesterday the bears squeezed the price of BTC from the corridor $ 8240 -$ 8310 In the afternoon, the BTC / USD pair broke through the lower limit of the range and tested the support of 8100.00 USD. From this strong level, the price rebounded to the area of ​​8150.00 USD, where it spent the whole night in a narrow consolidation.

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.16.2019

On the four-hour time frame, indicator linesStoch RSI reached the oversold zone, but we believe that with the resumption of sellers' pressure, the price may continue to decline to the level of 7900.00 USD.

On older time frames, indicators sit deep in the overbought zone. It is likely that soon the pair will gain a foothold in the consolidation and begin to show signs of recovery.

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.16.2019

Yesterday, buyers fought at average prices andlong did not give up. In the evening, a strong bearish impulse pushed the support for the hourly moving average EMA55, and the pair indicated a minimum around 177.00 USD.

Until the end of the day, the price rebounded to support 180.00 USD, but it seems that it will not be possible to gain a foothold in this area in the flat. Today, the decline will continue and may slow down near the level of 174.00 USD.

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10.16.2019

Yesterday, the lower border of the yellow range tried to keep the XRP price within the side corridor. However, in the evening, the bears increased pressure and rolled back below the average price level.

At night, sellers' activity subsided, and the price began to recover, but it was no longer possible to return to the yellow corridor. Today, the decline may continue to support 0.280 USD.

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