Analysis of prices for Bitcoin, Ethereum, XRP for 08/24/2021

The price of Bitcoin updates the August high, and the price of Ethereum cannot yettest the resistance of 3400.00 USD.

BTC / USD

Yesterday in the first half of the day, after the morning high, the growth of the BTC price continued a little more to a new summer record in the area of 50560.00 USD.At the same time, sales volumes began to significantly exceed the average level, and the price of bitcoin began to decline. 

By the end of the day, the pair rolled back to the level of 49000.00 USD, and this morning the price returned to the area of the two-hour EMA55, setting a local low at 48765.00 USD. 

If the moving average EMA55 stops the pair's decline, then the value of the August high mayIf the bears push through the level of average prices, then the nearest support, which will limit thedecline, possibly reach the level of 61.8% Fibo (47745.68 USD). 

ETH / USD

Yesterday, buyers were unable to increase volumes, and the Ethereum price did not test the target level of 3400.00 USD.All that the bulls were able to achieve yesterday was to update the monthly high to 3380.00 USD, after which the pair rolled back to the area of average prices. 

Hourly moving average EMA55 holds the pairfrom a further decline, and if today we manage to form another bullish impulse, the price will break through the resistance of 3400.00 USD and renew the maximum to the level of 3450.00 USD.

XRP / USD

Yesterday, buyers made a desperate attempt to break through the resistance of 1.300 USD, but the price of XRP could not stay above this level, and in the second half of the day the pair returned to the support of 1.200 USD. 

Price consolidation is ongoingin a narrow range around 1.250 USD. If the market remains positive, then the price of Ripple will follow the cryptocurrency flagship to a new August high around the 1.400 USD mark.

* All prices are based on BitStamp data

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