September 18, 2020

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10/19/2019

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10/19/2019

Today, consolidation is expected in the lateral range.

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10/19/2019

Yesterday morning the bears continued to dominate, until we set a local minimum at 7811.00 USD. When the pressure eased and volumes fell, the pair rebounded to the area of ​​7900.00 USD.

In the afternoon, buyers tried to restore the price to the psychological mark of 8000.00 USD, but so far it has not been possible to test this level.

It seems that today the pair will not be able to overcome the resistance of the average price level and will return to the zone of yesterday's low. Low activity of market participants will allow the price to consolidate in this area.

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10/19/2019

Yesterday morning, the bears increased pressure andtested the target level of decline of 61.8% Fibo (168.70 USD). After a rebound from this strong support level, buyers tried to restore the pair to the level of average prices, but failed to gain a foothold in this area.

Buyers found support around 172.00 USD. If today trading volumes are low, then in this area the price will try to stay in consolidation until the end of the day.

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 10/19/2019

Bears still managed to push the price out of the yellow corridor yesterday morning, but when sales declined, the pair was able to return to the yellow side range.

In the afternoon, the bears tried again to push the lower border of the corridor, but the support of 0.290 USD coped with the strong onslaught of sellers and kept the pair within the range until the end of the day.

Today, in the absence of pressure from the bearsthe price will continue to move in the yellow side corridor. It is even possible to re-test the midline of 0.300 USD, but before the end of the week a new wave of sales may send the pair to decline to support 0.280 USD.

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