Analysis of prices for Bitcoin, Ethereum, XRP for 09/29/2020

The market returned to the average price area tonight. Will the bears be able to increase the onslaught?

BTC / USD

Yesterdaybuyers failed to increase volumes, and the priceBitcoin failed to overcome the threshold of 11 thousand dollars. Until the end of the day, the pair remained in the area of ​​10800.00 USD, and at night sellers returned the price below the level of the two-hour EMA55. 

Around the 10680.00 USD mark, the rollback stopped. If today the bears increase their pressure and push through the level of 10500.00 USD, then the decline will slow down near the POC line (10277.42 USD). 

Given some correlation between Bitcoin price andstock market suggests that the BTC/USD pair will try to follow the SPX and DJI indices, which have been growing for the second day. We believe that in this case, buyers will be able to test the resistance of 11200.00 USD. 

ETH / USD

Yesterday afternoon, buyers tried to increase volumesand break through the resistance of 360.00 USD. In the evening, the price of Ethereum set a maximum at 368.35 USD, but the pair was unable to stay in the maximum zone until the end of the day. 

At night, sellers rolled back the price to the two-hour EMA55, but the bears have not yet been able to cope with the support in the area of ​​average prices and the decline has stopped in the morning. 

If the bears were able to increase volumes, then the pairwould continue to decline towards more powerful support at 320.00 USD. But now sales volumes have decreased significantly and there is a possibility that today buyers will be able to restore the price to the POC line (385.16 USD). 

XRP / USD

Yesterday during the day the activity of market participantswas low and the price remained in consolidation at the level of the POC line (0.244 USD). At night, the bears rolled back the price to the area of ​​average prices, but the two-hour EMA55 was able to stop the rollback. 

If the bears fail to strengthen the onslaught, buyers will break through the 0.250 USD resistance today and the pair will continue to flat above the new support level.

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

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