Bitcoin, Ethereum, Ripple price analysis for 02/06/2021

Ethereum price renewed its absolute maximum, and Bitcoin recovered to the area of 40,000.00 USD.

BTC / USD

Yesterday buyersreceived support at the level of 37300.00 USD and continued to restore the Bitcoin price. Tonight the pair came close to the resistance of 40000.00 USD. Purchase volumes are still at a low level, and the bulls have not yet been able to break through this resistance. 

If this weekend's growth is supported by above-average volumes, the pair will try to consolidate above forty thousand dollars. 

Around 41100.00 USD, the bears can organize a wave of sales, but we hope that they will not be able to break through the support of 37300.00 USD.

ETH / USD

Yesterday afternoon the bulls stillmanaged to break through the resistance of 1700.00 USD and set a new absolute maximum in the area of 1765.00 USD. However, even before the end of the day, trading volumes began to decline and tonight the price of ether rolled back below the level of 1700.00 USD. 

Today, the pullback may continue to the area of the two-hour moving average EMA55. We believe that the level of average prices will be able to stop the decline and the bulls will continue their run to the area of 1800.00 USD. 

XRP / USD

Yesterday, trading on Ripple was in declinevolumes and the price was unable to continue its recovery to the area of the psychological level of 0.500 USD. All day the pair was sideways with support around the 0.430 USD mark. During the day, sellers tried to break through this support level, but the price rebounded to the resistance of 0.450 USD. 

If buyers manage to pull the price out of this narrow sideways range over the weekend, the pair will test the psychological resistance of 0.500 USD. 

If the bears push through the lower border of the sideways range, then the price will roll back to the support of the four-hour moving average EMA55.

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

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