Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12.24.2019

Yesterday, the bulls could not continue to grow and the market fell back to previous levels of support.

BTC / USD

Yesterdayanother attempt by buyers to break through the graythe area of ​​resistance was unsuccessful. The bulls were able to break through the upper limit of the narrow gray range (7640.00 USD), but on average volumes the pair was unable to gain a foothold in the maximum zone. Even before the end of the day, the bears returned the BTC price to the support of 7400.00 USD.  

Tonight the bear pressure increased andthe decline continued to the level of average prices. In the morning, the two-hour EMA55 paused its pullback. Buyers can try to repeat the recovery, but with low activity they will not be able to overcome the resistance at 7400.00 USD.  

If sellers sell the moving average EMA55, then short-term price consolidation is possible in the area of ​​the POC line, we believe that support of 7166.00 USD can stop the rollback.

ETH / USD

Yesterday morning after a rollback to a local minimumAt 131.06 USD, buyers tried to break through the 38.2% fibo level (135.17 USD). The recovery was slow, with declining volumes. As a result, when approaching this resistance level, sellers seized the initiative and rolled back the price to the Point Of Control line (126.96 USD). 

Today the pair is expected to consolidate in a narrow range, and buyers' attempts to restore the pair will be limited by the two-hour EMA55. 

XRP / USD

Yesterday's Ripple price pullback from resistance 0.200 USD stopped near the two-hour EMA55. Until late evening, the pair tried to consolidate above the average price level, but at the end of the day, sellers pushed through the moving average EMA55 and at night set a local minimum at 0.189 USD. 

This morning, buyers have already taken actionan attempt to recover, but even quite large volumes failed to break through the resistance of the average price level. If sellers control the market today, the pair will roll back to the area of ​​0.180 USD. 

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