Analysis of prices of Bitcoin, Ethereum, Ripple for 09.01.2021

Bitcoin price continued to rise yesterday and set a new record at around 42,000.00 USD.

BTC / USD

Yesterday, early in the morning, the priceBTC rolled back to the hourly EMA55 level, and having foundthere was support, buyers began to restore the price to the January maximum zone. By mid-day, purchase volumes made it possible to overcome the forty thousand mark and continue the bullish run. 

In the afternoon the absolute maximum wasset at 42000.00 USD, after which a new wave of sales rolled back the pair to the constant support in the form of the hourly moving average EMA55, which was located around the 38000.00 USD mark. 

Until this morning the pair recovered only toresistance 40000.00 USD, trading volumes have decreased, and the price cannot yet continue to recover to the zone of the updated January maximum. We believe that the pair will spend the first half of the day in sideways consolidation with support at the average price level. 

If by the end of the week the bears push the moving average, then a re-test of the support at 36300.00 USD is possible.

ETH / USD

Yesterday morning, a rather deep pullback of the ETH/USD pair (below EMA55) did not allow buyers to continue to increase the price of ether to a new January high. 

The recovery stuck around the 1275.00 USD mark and before the end of the day, sellers again returned the ETH price below the hourly moving average. 

Over the past night, the pair was able to recover above the average price level, but trading volumes are low and it looks like the narrowing sideways range that we talked about in yesterday's forecast is forming. 

XRP / USD

Yesterday, shoppers worked hard topull a pair from the side corridor $0.280 – $0.310. During the day they managed to test the level of 0.345 USD, but by the end of the day the price of XRP still rolled back to the upper limit of the sideways range of 0.310 USD. 

If today the bears push through this support, the pair will roll back to the two-hour moving average EMA55, which is located around the 0.280 USD mark. 

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

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