Analysis of prices for Bitcoin, Ethereum, XRP for 06/05/2021

After a pullback below the average price level, buyers try to restore the market to its previous level.

BTC / USD

On Friday morning, the bears broke through the average price level and continued to decline the pair towards the support of 36000.00 USD. The daily minimum was set at 35,577.00 USD. 

The price rebounded from the low point to level 38.2% fibo (37152.24 USD), gradually recovering to the area of ​​average prices. Tonight, buyers broke above the three-hour EMA55 and are trying to gain a foothold above it. 

Now sales volumes are quite low, and if the moving average keeps the price from falling, then by the end of the week buyers could continue to rise to the psychological level of 40000.00 USD. 

However, given the overheating of the market on the daily time frame, it should be borne in mind that the bears are now waiting for the moment when they can pull back the pair with a strong impulse to the support area of ​​30,000.00 USD.

ETH / USD

Yesterday, the daily low was set below the level of average prices, around the 2550.00 USD mark, but by the end of the day the pair recovered above the three-hour EMA55. 

Tonight the recovery continued toresistance 2800.00 USD. In the morning, small volumes of purchases do not yet allow the price to break through this level, but if volumes manage to increase during the day, then by the end of the week the pair can reach 3000.00 USD. 

If buyers fail to form a bullish momentum, then the resistance of 2800.00 USD will turn the pair downward. In this case, the depth of the rollback may reach the support of 2200.00 USD.

XRP / USD

Yesterday morning, the bears resumed their onslaught and pushed through the three-hour EMA55 level. In the second half of the day, trading volumes decreased and the decline stopped around 0.915 USD. 

Until the end of the day the pair tried to recover, but was unable to return to the levelone dollar per coin... Today, a re-test of the key level of 1.00 USD is possible, which will turn the XRP price downward to the 0.800 USD area.

* All prices are based on BitStamp data

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