Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 11.29.2019

Will cryptocurrency prices fall on Black Friday?

BTC / USD

Yesterday in the first half of the day the price of BTC began to smoothlypullback from the recent high 7676.27 USD to support 7400.00 USD. 

In the evening, buyers attempted to continuerecovery, but the bullish momentum was so weak that it did not allow the price to update the weekly high. At night, volumes decreased and the pair returned to the support of 7400.00 USD. 

It is possible that today the bulls may takeanother attempt to restore the price. We believe that in the medium term, the target bullish level may be in the blue range of $8,000 – $8160. 

However, one should take into account the overheating of the market on short time frames. Before the bulls reach the target level, sellers may push through the support at 7400.00 USD. 

 

ETH / USD

From a weekly high of 153.The 42 USD price of Ethereum retreated yesterday to the hourly moving average EMA55, which kept the pair from falling further. From the average price level, the bulls made a weak attempt to update the high, but were never successful. Overnight the price again rolled back to the hourly EMA55. 

This morning the ETH price is balancing at 50%Fibo (151.94 USD). Who will dominate the market today – It's not clear yet. The bulls can continue to recover to the area of ​​162.00 USD, and sellers have a good chance of pushing through the support of the POC line (151.05 USD) and roll the pair back to the area of ​​146.00 USD. 

XRP / USD
  

Buyers yesterday could not overcomeresistance level 0.230 USD. Purchase volumes barely reached the average level, and when they decreased, the pair immediately rolled back to the area of ​​yesterday's consolidation. 

Today, buyers can take one more stepan attempt to break through the resistance level of the four-hour EMA55. If it is successful, then the maximum is possible in the area of ​​the downward trend line of 0.240 USD. 

If sellers increase pressure, the price will sink a little deeper, to the support of 0.217 USD. 

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