Analysis of prices for Bitcoin, Ethereum, XRP for 08/22/2020

Yesterday, buyers failed to recover the market above the average price level.Until the end of the week, the decline will continueto the nearest support levels.

BTC / USD

Yesterday morning, the consolidation of the BTC price in the area of average prices dragged on too long, and buyers were unable to break through the resistance of the two-hour EMA55. 

During the day, sellers pushed the pair below the POC line (11740.62 USD), and at night the pressure intensified, and this morning the price of bitcoin tested the 50% Fib level (11394.15 USD). 

If the fifty percent fibonacci level is notwill cope with the support, the next closest level that is still able to stop the bears is the level of 11200.00 USD. Its breakout will lead to the exit of the pair from the ascending channel, the lower border of which is the blue trend line. In this case, the price will roll back below the level of 10500.00 USD.

ETH / USD

Yesterday, buyers failed to break through the two-hour EMA55.During the day, the selling pressure increased, and the bears managed to form a powerful impulse, which broke through the support of the POC line (395.33 USD). 

As of this morning, the decline has stopped around 380.00 USD, but we believe that there is a pullbackcontinue to the support area of 360.00 USD.If the bears break throughthisIf the support level is strong, the pair will test the ascending green trend line – the last frontier that could keep the pair in the ascending channel. 

XRP / USD

Yesterday, buyers failed to form a bullish momentum and overcome the resistance of the two-hour EMA55.In the morning, on small volumes, the price of XRP rolled back below the POC line (0.294 USD), and during the day, the selling volumes began to increase, and the pair broke through the support of 0.280 USD.The weekly low is set at 0.273 USD. 

If the bears continue the onslaught over the weekend, the pair may break through the support of 0.270 USD.The next reliable support level is quite deep – around 0.250 USD.Such a decline in the price of Ripple may call into question the renewal of the annual high.

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