Analysis of prices for Bitcoin, Ethereum, XRP for 06/02/2021

Yesterday there was no bearish pressure and prices consolidated sideways. Coming soon tothe market is likely to increase volatility.

BTC / USD

Yesterday trading volumes were below average andBitcoin price volatility was quite low. The whole day the pair consolidated in the area of ​​average prices. In the first half of the day, the price of BTC dropped below the three-hour EMA55 and until this morning the pair remained above the lilac support of 36000.00 USD. 

Despite the absence of a strong bearishpressure, the scenario of a decline to the area of ​​the May minimum is still relevant. If the bears push through the 23.6% Fibo level (30595.43 USD), then the psychological level of 30,000.00 USD will not be able to keep the pair from renewing the annual low around the 28,000.00 USD mark.

ETH / USD

The three-hour moving average EMA55 limited the decline in the price of Ethereum, and the pair consolidated sideways throughout yesterday. 

Today it is possible for buyers to try to restorethe price of ether to the resistance of 2800.00 USD. This could provoke sellers to another bearish impulse, which will push the pair back to the 2000.00 USD mark.

XRP / USD

Yesterday the price of XRP fell back below the psychological level1.00 USD mark, but small sales volumes did not allow the pair to test the three-hour EMA55. Until this morning, the price has been in sideways consolidation, around one dollar per coin. 

If buyers try to take advantage ofthe absence of bearish pressure, then on small volumes they can achieve moderate growth to the resistance of 1.100 USD. However, the pair will not be able to stay in the area of ​​the local maximum, and the price will quickly roll back below the level of the moving average EMA55, and in the second half of this week, a decline to the red line of the down trend is possible.

* All prices are based on BitStamp data

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