Analysis of prices for Bitcoin, Ethereum, Ripple for 01/30/2021

Bitcoin price has broken the upper boundary of the downward trend, but will buyers be able to break the locala downtrend that has been going on for more than three weeks?

BTC / USD

Yesterday there was a wave of buying frenzy on the market, caused by the publication of the usual Bitcoin hashtag in the Twitter header on Elon Musk’s page.    

BTC price has broken the downward resistance linetrend and broke the level of 36000.00 USD, setting the daily high at 38620.00 USD. However, by the end of the day the pair just as quickly rolled back to the trend line and returned to the average price area. 

If today the two-hour EMA55 keeps the pair fromfurther decline, then the recovery dynamics can form a new bullish trend. To do this, the pair must consolidate above the resistance at 37300.00 USD. Then, next week, we can expect the Bitcoin price to return to the absolute maximum area and continue the bullish run. 

Otherwise – bears can push the price to the psychological level of 30000.00 USD and push through this fairly strong support.

ETH / USD

The correlation component of the price of ether has forcedYesterday the ETH/USD pair broke through the resistance of 1400.00 USD and marked a local maximum at 1440.00 USD. However, following the rollback of the cryptocurrency flagship, the price of Ethereum also returned to the area of ​​average prices. 

If the two-hour EMA55 stops the pair’s decline, then by the beginning of next week the price may set a new high around 1500.00 USD. 

If today sellers push through the average price level, then by the end of the week the pair will again test the strength of the support of the ascending blue trend line. 

XRP / USD

Yesterday, buyers overcame the average price level andentrenched in the side corridor $0.280 – $0.310. In the evening, the price tested the upper limit of the corridor, which kept the pair from further growth. 

At the moment, the XRP price is consolidating near the lower border of this corridor, and most likely, until the end of this week the pair will remain within the specified side range. 

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

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