Bitcoin, Ethereum, XRP price analysis for 03/02/2021

Yesterday, the market was dominated by a positive mood and the price of Bitcoin was able to gain a foothold above the level of average prices.

BTC / USD

Yesterday in the first half of the day the price recoveredBitcoin continued towards the resistance of 48000.00 USD. To break through this level, the bulls formed an impulse that exceeded the average purchase volume. As a result, the pair consolidated above the upper border of a wide sideways corridor, in which it had been since the middle of last week. 

Trading volumes were below average tonightlevel, but buyers managed to test the psychological mark of 50,000.00 USD. If buyers continue to dominate, the growth will continue to the area of 52000.00 USD. 

If sellers build a powerful defense at the level of 50,000.00 USD, then the pair will return to the area of average prices, to the two-hour EMA55. 

ETH / USD

Yesterday morning, moving in sync with the cryptocurrencyflagship, the price of Ethereum broke through the resistance of 1500.00 USD and consolidated above the two-hour moving average EMA55. At night, on medium volumes, buyers managed to test the resistance of 1600.00 USD. 

If purchase volumes increase today, the recovery will continue to the area around 1700.00 USD. 

Lack of support for large buyers – will lead to a rollback to the area of average prices. 

XRP / USD

Positive mood on the first day of springparticipants of the entire crypto market did not help the price of XRP break through the upper limit of the blue range. Buyers have broken through the resistance of 0.450 USD, but the pair still remains in a narrow sideways corridor. Low trading volumes will contribute to continued consolidation of the pair below the four-hour EMA55. 

Today, large buyers may again try to break through the upper limit of the corridor and gain a foothold above the average price level. 

* All prices are based on BitStamp data

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