October 22, 2020

Analysis of prices for Bitcoin, Ethereum, XRP for 10/17/2020

Analysis of prices for Bitcoin, Ethereum, XRP for 10/17/2020

BTC / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 10/17/2020

Yesterday, the Bitcoin price continued to move in a sideways range, but at the same time its borders began to expand. In the morning, sellers could easily testsupport at 11200.00 USD, and before the end of the day the pair recovered to the area of ​​average prices, but at the moment it was unable to overcome the 50% fibo level (11394.15 USD).

If the recovery continues today, the price may test the resistance of 11800.00 USD.

If buyers do not have enough strength to break above the two-hour EMA55, then the bears will try to push the BTC price below the 11200.00 USD mark and push it to the blue trend line.

ETH / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 10/17/2020

Sellers broke through the two-hour support yesterday.EMA55 and set a daily low in the support area of ​​360.00 USD. In the second half of the day, the price began to recover, but until now it has not been able to overcome the level of 370.00 USD.

Now trading volumes have significantly decreased andthe price is consolidating in a narrow sideways range. If sellers continue yesterday's onslaught, the pair will roll back to the area of ​​the POC line (344.81 USD), and if bearish pressure intensifies, by the beginning of next week, the ether price may roll back to support at 320.00 USD.

XRP / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 10/17/2020

Yesterday, the bears pushed the POC indicator line (0.244 USD), but buyers are not yet allowing the XRP price to roll back to the October low and keep the pair in the Point Of Control area.

Now the bulls have the opportunity to forma powerful impulse and restore the pair above the resistance of 0.260 USD, but if negative sentiments prevail on the cryptocurrency market in general, then by the end of this week the price of Ripple will update its monthly minimum just below the support of 0.230 USD.

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

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