Analysis of prices for Bitcoin, Ethereum, Ripple for 01/29/2021

Will Bitcoin price break through the resistance of the downtrend line today?

BTC / USD

Yesterday buyerstried to restore the price above the two-hour EMA55. In the afternoon they overcame the average price level, and tonight they tested the resistance of the purple downward trend line. 

If today they are able to increase purchase volumes and break through this resistance, then the price will be able to consolidate above the support level of 36000.00 USD. 

If it is not possible to break through the resistance of the trend line, then the downward trend will continue, and by the end of the week the pair will reach support at the level of 28000.00 USD. 

ETH / USD

Yesterday buyers were able to break through resistancelevel of average prices and gain a foothold slightly above the level of 1320.00 USD. At night, the price of ether tried to test the resistance of 1400.00 USD, but the volume of purchases decreased and the pair returned to support the average price level. 

If the bears push through the two-hour EMA55, then this coming weekend the price of ETH will again test the strength of the support of the ascending blue trend line. 

XRP / USD

Yesterday, the XRP price consolidated above the level of 0.260 USD, but the resistance of the two-hour EMA55 prevents it from continuing to recover within the sideways range ($0.280 – $0.310).

If the moving average EMA55 limits the recovery, then by the end of the week the pair will roll back below the support of 0.260 USD. 

If buyers are able to overcome the level of average prices, then over the weekend the pair will fight within the specified side corridor. 

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

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