October 1, 2022

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

If sellers' pressure intensifies, today prices will update last week's lows.

BTC / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

On Saturday buyers could not increase the volume, pacegrowth slowed and the price of BTC sank below the hourly EMA55. In the afternoon, sales began, because of which the pair broke through the support of 7166.00 USD and tested the level of 23.6% Fibo (7026.59 USD). This level stopped the decline and buyers tried to use it to restore to the Point Of Control line, but failed to gain a foothold in this area.

Volumes have declined and buyers are not able to overcome the moving average EMA55 with low trading activity.

Today we again expect a re-test level of 23.6% Fibo (7026.59 USD). Can this level also reliably keep the price from falling? At small volumes, it will work for a U-turn, but with increasing pressure from sellers, it will not be able to hold a pair for a long time.

Over the weekend, the price was able to pierce several timesthis level, in the case of today's breakthrough, the pair will fall in the area of ​​the violet trend line, the local minimum will be somewhere around 6900.00 USD.

ETH / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

On Saturday, trading was sluggish, market activitywas low and the price of ETH by inertia was still held in consolidation at the level of hourly EMA55. Then, at the same small volumes, a slow decline in the pair began. A weak bearish impetus accelerated the decline in prices to the weekly low and only after the price pierced the support of 140.00 USD, buyers began to attempt to restore the pair.

On Sunday, buyers managed to break higherlevel of average prices, but it was not possible to gain a foothold over it. Subsequent attempts were also unsuccessful - the moving average EMA55 turned the pair down.

Today we again expect a return to support 140.00 USD. Strong bearish pressure is not yet available and there is a chance to stay in a wide side, but if the pressure intensifies, the pair will update last week's low and test the level of 38.2% Fibo (135.17 USD).

XRP / USDAnalysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.16.2019

Last weekend, the price of Ripple could not overcome the two-hour EMA55 and all the time rolled back below the blue trend line.

Today, small volumes decline in the regionlast week's low continues. If sales volumes exceed a critical level, then support at the level of 0.210 USD will break through and another local minimum can be expected around the level of 0.205 USD.

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