March 28, 2024

Analysis of prices for Bitcoin, Ethereum, Ripple for 02/08/2021

Last Sunday, the Bitcoin price rolled back to the area of ​​average prices, and at the beginning of this week, a decline maycontinue to support 36000.00 USD.

BTC / USDAnalysis of prices for Bitcoin, Ethereum, Ripple for 02/08/2021

Last weekend the price of Bitcoin brokeresistance was 40000.00 USD and tested the level of 41000.00 USD, but the bears did not allow the pair to consolidate above forty thousand. On Sunday night, sellers rolled back the price to the two-hour EMA55, and yesterday afternoon they broke through the average price level and came close to the support of 37300.00 USD. Sales did not exceed average daily volumes and the decline stopped. 

Over the past night, the pair recovered above the level39000.00 USD, and if buyers were able to hold the price above the moving average EMA55, then during the day the pair would return to the level of 40000.00 USD. 

However, this morning, we see that the volumespurchases are extremely low. Most likely, in the near future the bears will continue to press and the BTC price will break through the support of 37300.00 USD. A more powerful support level is located around 36000.00 USD. We believe it will be able to weaken the bearish onslaught and the pair will recover to the area of ​​average prices.

ETH / USDAnalysis of prices for Bitcoin, Ethereum, Ripple for 02/08/2021

On Saturday, the price of ether tried to gain a foothold inaround the 1700.00 USD mark, but on Sunday sellers broke through the average price level and tested the support of 1500.00 USD. At the end of the day, the pair rebounded from the local minimum point to the area of ​​1620.00 USD, but it was not yet possible to continue recovery above the two-hour moving average EMA55. 

The level of average prices limitsthe recovery dynamics of Ethereum and if selling pressure intensifies, then today the pair can test the support of the blue trend line. We believe that the rising trend line will stop the bearish onslaught and the pair will recover to the area of ​​average prices. 

XRP / USDAnalysis of prices for Bitcoin, Ethereum, Ripple for 02/08/2021

At the end of last week, the Ripple price did notmanaged to stay in a narrow sideways corridor with support at the level of 0.430 USD. On Sunday, the bearish momentum broke through the lower end of the range and the pair tested the four-hour EMA55.

Tonight the pair tried to gain a foothold in a narrow consolidation above this moving average and if buyers try to restore the price, the pair may return to the resistance of 0.450 USD. 

If it is not possible to increase the volume of purchases, then the price will fall below the support EMA55 and test the level of 0.350 USD. 

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

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