Analysis of prices for Bitcoin, Ethereum, Ripple for 01/16/2021

Yesterday, bearish pressure prevented the BTC price from consolidating above the average level. This morning the price is testingsupport at the level of 36000.00 USD.

BTC / USD

Yesterday morning, the BTC price decline continued tohourly EMA55. We expected the average price level to stop the pullback, but in the afternoon the bears increased pressure and pushed the pair below the support of 36000.00 USD. At the end of the day, sellers marked the daily minimum in the area of ​​34380.00 USD. 

When sales volumes began to decline, the pricehas recovered to the area of ​​average prices (37,000.00 USD), but it is not yet possible to gain a foothold in this area on small volumes. At this stage, the key milestone may be the level of 36,000.00 USD. If this level acts as support, then until the end of the week the recovery will continue above the resistance of 40000.00 USD. 

If this support fails to cope with the next bearish impulse, then we should expect the pair to decline to the area of ​​32600.00 USD. 

ETH / USD

Yesterday, in the first half of the day, the decline in the price of ETH was not limited to the hourly EMA55 and continued below this moving average. 

Yesterday's bearish impulse established a localthe minimum was around 1060.00 USD, but by the end of the day the pair had completely recovered to the area of ​​average prices. Moreover, this morning, the price of ether is trying to consolidate above the average level, using the moving average EMA55 as support. 

If the attempt is successful, then by the end of this week the pair will be able to overcome the resistance of 1250.00 USD and continue to recover to the area of ​​the January maximum. 

XRP / USD

Yesterday, Ripple trading volumes remained atlow level. Small selling volumes pushed the XRP price beyond the lower boundary (0.280 USD) of the narrow sideways corridor and forced it to test the support of 0.260 USD. 

However, over the past night the pair recovered tothe lower border of the side range, but it is not yet possible to gain a foothold within its limits. If sellers continue to dominate the market, the pair will roll back to support at the POC line (0.228 USD).     

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

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