Analysis of prices for Bitcoin, Ethereum, Ripple for 01/07/2021

Tonight, the BTC price continued to rise and the pair approached the 38,000.00 USD mark.

BTC / USD

Yesterday morning, on an overheatedmarket, the bulls tried to resume the growth of the BTC price and immediately updated the absolute maximum in the area of ​​35900.00 USD. 

The bears responded with a wave of sales, whichbrought the price down to the support level of 34,000.00 USD, however, it was not possible to extinguish the bullish price dynamics and growth continued. Before the end of the day, the pair broke through the level of 36000.00 USD, and over the past Christmas night it came close to the level of 38000.00 USD. 

Dynamic growth for this morninghas stopped, and today some correction awaits us. If it is within the hourly EMA55, it means that in the near future, the bulls intend to continue running into the area of ​​40,000.00 USD.

ETH / USD

Yesterday, the price of Ethereum supported the dynamic growth of the cryptocurrency flagship and continued to grow. In the evening, the pair renewed its January high and tested the strength of the resistance at 1200.00 USD. 

At night, buyers broke through this powerful resistance, but the volume of purchases has decreased significantly and sellers have so far managed to restrain the dynamic growth of the price of ether. 

This morning the bears will try to push the pair back below 1200.00 USD, while buyers will look for support around the hourly moving average EMA55.

XRP / USD

Yesterday, the price of Ripple remained in the areatwo-hour EMA55. In the second half of the day, buyers managed to form a powerful bullish impulse and the price broke through the level of 0.280 USD. After a slight pullback, the growth continued and tonight the pair tested the resistance of 0.310 USD. 

If today buyers manage to gain a foothold in the sideways corridor with support at 0.280 USD, then by the end of the week growth may resume in the area of ​​0.400 USD. 

If the bears press and roll back the pair below the 0.260 USD mark, then the XRP price will return to the area of ​​the POC line (0.228 USD).

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

Subscribe to ForkNews on Telegram