June 14, 2024

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11/23/2019

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11/23/2019

Yesterday the market continued to fall, but soon prices will reach a reversal level and pairs will be able toconsolidate in the side corridor.

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11/23/2019

Yesterday the sales continued and the bears brokea very important support level is 23.6% fib (7026.00 USD). The daily low was set at 6785.00 USD, after which the pair rebounded to resistance at 7400.00 USD. The price was unable to gain a foothold under this resistance level, and as of this morning, it is consolidating in the area of ​​7220.00 USD.  

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11/23/2019

If you look at the daily chart, you cansuggest that an extended BTC price consolidation may take place in the purple range, as was the case in October last year. Yesterday the pair already tested the upper limit of this range. 

We believe that by the end of this week the bears willtry to break through the support of 6800.00 USD, and at the beginning of next week, the decline will finally stop, and the pair will be in the purple side range.

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11/23/2019

Yesterday the bears broke through support, whichcouldn't overcome it last month. The 50% fib level (151.94 USD) has repeatedly turned the price of ether to recovery, and yesterday sellers set a minimum at 137.71 USD. 

It should be noted that for the first time in the entire week, the rebound was quite high and the price returned above the 50% Fibonacci level, but still could not gain a foothold above it. 

We believe that soon the pair will have to test the support of 38.2% fibo (135.17 USD). We believe that this price area could be a suitable consolidation range for the ETH/USD pair.   

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11/23/2019

After a slight rebound, the price of Ripple continueddecrease to the minimum zone. Yesterday, the minimum price value was fixed at 0.222 USD. Let us recall that the annual minimum was set on September 24 at 0.220 USD. 

If the bears don't stop before the end of the weekpressing, the pair can update the annual minimum in the region of 0.215 USD, and a wide range with support at the level of 0.230 USD can be a possible range for the consolidation of the Ripple price.

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