January 23, 2022

Analysis of prices for Bitcoin, Ethereum, XRP for 12/02/2021

Analysis of prices for Bitcoin, Ethereum, XRP for 12/02/2021

Yesterday, the Ethereum price was unable to overcome the key resistance of 4800.00 USD. The bears managed to disrupt the bull run to new historical highs.

BTC / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 12/02/2021

The bulls made another desperate attempt yesterdayrestore the bitcoin price to 60,000.00 USD. Buyers tested the level of 59000.00 USD and at this their strength dried up. In this area, sellers seized the initiative, returning the pair to the area of ​​average prices.

At the end of the day, the bears intensified the onslaught andpushed the BTC price below the 2-hour EMA55. As of this morning, the pullback has reached 55840.00 USD and bearish pressure has eased slightly. The price is sluggishly recovering, but the decline is not over yet.

We expected support for the 78.6% fibo level (55287.64 USD), but now it does not look convincing enough. In the event of a breakout, bears could return the pair to the November low zone.

ETH / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 12/02/2021

Yesterday morning the bulls tried to test the important resistance at 4800.00 USD. However, in the area of ​​4780.00 USD, the growth slowed down. The maximum was fixed at the point 4784.00 USD.

In the afternoon, the bears launched a counterattackand rolled back the pair to the area of ​​the two-hour EMA55. The average price level stopped the decline this morning, but can it keep the price from a deeper pullback?

In the event of a breakout of the EMA55 moving average, it is hoped that the support at 4300.00 USD will keep the pair in short-term consolidation.

XRP / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 12/02/2021

During the day yesterday, XRP price consolidated in a narrow sideways channel between support at USD 1.00 and resistance around USD 1.020.

In the afternoon, the crypto market was in redzone. Ripple's price is no exception, falling out of the sideways range. At night, the price broke through the psychological support of 1.00 USD and tested the orange level of 0.960 USD this morning. Whether this weak support can be counted on is not clear yet.

Most likely, the decline will continue to the area of ​​the recent monthly minimum.

* All prices are based on BitStamp data

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