Analysis of prices for Bitcoin, Ethereum, XRP for 09/21/2020

Over the weekend, the market sank below the average price level. Will the bulls have enough strength to recover?

BTC / USD

On SaturdayThe price of Bitcoin was held in a very narrow consolidation, around the 10900.00 USD mark, and on Sunday the bears pierced the moving average EMA55 and tested the level of 10755.90 USD. 

Before the beginning of this week, the price managed to return to the Saturday consolidation zone, but now growth to the target level of 11200.00 USD is in doubt. 

Judging by the readings of the Stoch RSI indicator, the bullsThere is still potential for a re-test of the 50% fib level (11394.15 USD), but the low volume of purchases is slowing down the recovery process. This could result in the bears renewing strong pressure and then the BTC price will pull back below the support at 10500.00 USD. 

ETH / USD

On Sunday, the price of Ethereum fell back lowertwo-hour EMA55, but was able to hold above the support level of 360.00 USD. Tonight, buyers tried to restore the pair to the area of ​​average prices, but so far the recovery is too slow and on small volumes. 

If the bulls manage to form a strong impulse, then there is a chance to test the psychological mark of 400.00 USD. 

Otherwise – slow declineEthereum prices may break through a fairly strong support of 360.00 USD and then the rate of decline will accelerate. In a short period of time, the price may roll back to the zone of monthly lows, in the support area of ​​320.00 USD. 

XRP / USD

On Sunday, sellers pushed the leveltwo-hour EMA55 and the XRP price rolled back to the area around 0.242 USD. However, sales volumes were below average, and tonight buyers are trying to restore the pair. 

On the daily time frame, Stoch indicator linesRSI in the overbought zone has formed a downward signal. There is a high probability that in the first half of this week the decline will continue towards the support of 0.230 USD. 

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

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