March 29, 2024

Analysis of prices for Bitcoin, Ethereum, XRP for 07/23/2020

Analysis of prices for Bitcoin, Ethereum, XRP for 07/23/2020

Yesterday, buyers were able to continue to grow, and the price of Bitcoin reached a new monthly high. In the near futurethe bull run may continue.

BTC / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 07/23/2020

Yesterday the level was 9300.00 USD acted as support and stopped the BTC price pullback. The bulls took advantage of the opportunity, gradually increasing their buying volumes, and at the end of the day, a powerful bullish impulse broke through the 38.2% fib level (9441.98 USD) and tested the blue ascending trend line. 

The July maximum was updated to9573.00 USD, but as of this morning the price has dropped to the area of ​​9500.00 USD. To continue the rally, the bulls need to consolidate above the rising trend line. If in the near future buyers overcome the resistance in the area of ​​9600.00 USD, then the run may continue to the level of 9800.00 USD. 

If the bears try to increase pressure, then you can count on a fairly strong support level of 38.2% fib (9441.98 USD). 

ETH / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 07/23/2020

The upper limit of the blue side range (242.00 USD) yesterday stopped the rollback of the ETH/USD pair from the resistance of 247.00 USD and turned the price of ether into growth. Before the end of the day, buyers were able to recover to the previous level and break through the key resistance of 247.00 USD. 

At the Asian session, the powerful bullish momentum renewedthe July high, which was located in the area of ​​250.00 USD to 270.00 USD. When buying volumes decreased, the pair got stuck in the purple resistance area, which kept the ETH price sideways for a long time after the yearly high in February 2020. 

If the lower border of this area (264.00 USD) keeps the pair from a deeper rollback, then growth may continue to the upper border of 274.00 USD. 

If the bears push through the support at 264.00 USD, then a return to the area around the 250.00 USD mark is possible. 

XRP / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 07/23/2020

Yesterday, buyers were able to increase their pressure and broke throughpsychological level 0.200 USD. At the end of the day, the price of Ripple broke the POC line (0.203 USD) and set a weekly high at 0.206 USD. 

In the morning, growth into the July maximum zonepaused and the price rolled back to the Point Of Control line (0.203 USD). If this Volume Profile indicator line keeps the price from further rollback, then growth will continue towards the resistance of 0.213 USD. Otherwise, the pair will roll back to the support of 0.200 USD. 

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