March 29, 2024

Analysis of prices for Bitcoin, Ethereum, XRP for 07/20/2020

Analysis of prices for Bitcoin, Ethereum, XRP for 07/20/2020

At the end of last week, the market recovered above the average price level. Will the bulls be able to do this this week?continue to grow and break through key resistance levels?

BTC / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 07/20/2020

Over the past weekend, the price of Bitcoin moved several timeswas able to break through the resistance at 9200.00 USD, but only this morning the buyers managed to gain a foothold above the level of the two-hour moving average EMA55. 

Trading volumes still remain low, butif buyers increase their purchases, then a re-test of the resistance at 9300.00 USD is possible. A strong bullish impulse will allow us to break through this key level and test the dotted blue line of the local uptrend. 

On small volumes it will not be possible to break through 9300.00 USD, and then the pair will return to supporting the average price level. 

ETH / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 07/20/2020

On Saturday, buyers tried to break above the average price level. On small volumes they managed to break through the two-hour EMA55, but on Sunday the ETH price rolled back to the support of 233.33 USD. 

In the Asian session, the bulls formed momentum, according tovolumes slightly exceeding the average level, and broke through the moving average EMA55. This morning, when volumes have decreased, the pair is trying to gain a foothold in the blue side channel, using its lower border (238.00 USD) as support. 

If during the day buyers manage to break throughthe upper limit of the sideways range (242.00 USD), then the recovery may continue to the resistance of 247.00 USD. The most likely possibility is that the price of ether will fix in the blue side corridor, in the area of ​​the POC line. 

XRP / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 07/20/2020

Last Saturday, buyers consolidated above the average price level and broke through the resistance of 0.200 USD. On Sunday, trading volumes decreased and the pair rolled back to the two-hour EMA55. 

Tonight the market remained thin and buyersfailed to overcome the psychological level of 0.200 USD. If purchase volumes manage to increase during the day, the price will test the POC indicator line (0.203 USD). 

We believe that by the end of the day the pair will be able to gain a foothold in sideways consolidation in the area of ​​the Point Of Control line (0.203 USD). 

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