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

BTC / USD

Yesterday, the Bitcoin price continued to move in a sideways range, but at the same time its boundaries began to expand.In the morning, sellers were able to easily testsupport 11200.00 USD, and before the end of the day the pair recovered to the area of ​​average prices, but at the moment it has not been able to overcome the 50% fib level (11394.15 USD). 

If the recovery continues today, the price may test the resistance at 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 / USD

Yesterday sellers broke through two-hour supportEMA55 and set the daily low at 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 decreased significantly 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 increases, by the beginning of next week, the price of ether may roll back to the support of 320.00 USD. 

XRP / USD

Yesterday, the bears pushed the POC indicator line (0.244 USD), but buyers have not yet allowed the XRP price to roll back to the October low and are holding 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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