February 24, 2021

Analysis of prices for Bitcoin, Ethereum, XRP for 02/20/2021

Analysis of prices for Bitcoin, Ethereum, XRP for 02/20/2021

After a short pause, the bulls were able to continue the race and renew the absolute highs.

BTC / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 02/20/2021

Yesterday morning, the BTC price managed to stay in an upward channel, and after a local minimum, buyers quickly returned the price to the absolute maximum zone.

In the afternoon, a strong bullish momentum broke through the 54000.00 USD mark, and at the end of the day, already on decreasing volumes, the pair set another price record around the 56400.00 USD mark.

At night, the volume of purchases continued to decline, the price growth slowed down, but did not stop. In the morning, the Bitcoin price renewed its maximum at the point 56620.00 USD.

At the moment, the volume of purchases is at a minimum and the pair is consolidating around the 55600.00 USD mark. If trading picks up in the morning, the growth may continue to the area of ​​58000.00 USD.

On small volumes, a pullback will return the pair to the support area of ​​52400.00 USD.

ETH / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 02/20/2021

Yesterday morning trading volumes were below average and the pair consolidated in a narrow range with support at USD 1920.00.

After lunch, buyers managed to forma strong bullish impulse that allowed the price of ether to get close to the target level of 2000.00 USD. The daily high was recorded in the area around 1975.00 USD, and early this morning, the bullish run continued and the price of ETH broke through the psychological level of 2000.00 USD, setting a historical high at 2040.00 USD.

Morning growth was not supported by large volumesand the pair immediately rolled back, but managed to stay above 2000.00 USD. If in the first half of the day buyers increase in volume, then the growth may continue to a new all-time high around the 2100.00 USD mark.

XRP / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 02/20/2021

Yesterday morning, the XRP / USD pair consolidated innarrow lateral range. In the afternoon, buyers made another attempt to break the upward blue trendline, but until today the trendline is still holding back the XRP price recovery into the upward channel.

If buyers today can shapeIf the next bullish impulse exceeds yesterday's in volume, the pair could break through the resistance of 0.600 USD and consolidate above the trend line by the end of the week.

* All prices are based on BitStamp data

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