Analysis of prices of Bitcoin, Ethereum, XRP for 03/01/2021

In the last week of February, the correction in the cryptocurrency market continued. Buyers tonighttried to restore prices. Will pairs be able to gain a foothold above the average price level?

BTC / USD

Last Saturday, the BTC price was kept in a fairly wide sideways range between support 46000.00 USD and resistance 48000.00 USD. 

On Sunday, sellers knocked the pair out of the sideways corridor and tested the level of 43100.00 USD, setting a weekly low at 43021.00 USD. 

Tonight the couple was able to recover inlimits of the sideways range, and in the morning the growth stopped near the POC line (47037.73 USD). In the first half of the day, buyers will try to break through to the upper limit of the sideways range, but if the volumes of purchases are as modest as tonight, then the bulls will not be able to gain a foothold above the resistance of 48000.00 USD, and the movement in the sideways corridor will continue until the end of the day. 

It should also be said that in the area of ​​the mark44500.00 USD, another weak support area is visible, which today could limit the rollback if sellers begin to put pressure and squeeze the pair out of the sideways. 

ETH / USD

On Saturday, shoppers spent the entire day trying toto gain a foothold above the resistance of 1500.00 USD, but failed to form a powerful bullish impulse. On Sunday night, the bears pushed the pair below the weekly low and at the end of the day broke through the level of 1300.00 USD, updating the local minimum to 1293.42 USD. 

Over the past night, the market observed increased demand for Ethereum, as a result the price overcame the POC indicator line (1345.20 USD) and recovered to the area of ​​1460.00 USD in the morning. 

We believe that today the resistance of 1500.00 USD will continue to restrain the growth of the price of ether, and only a powerful bullish impulse will allow the pair to consolidate above the average price level. 

Otherwise, the two-hour EMA55 will turn the price downward and a re-test of the support at 1250.00 USD is possible at the beginning of this week. 

XRP / USD

Yesterday the price of XRP fell out of the blue sidewaysrange and set a local minimum at 0.393 USD. Over the past night, buyers tried to return the pair within the blue corridor, but until the morning they were unable to overcome the resistance of the lower border at the level of 0.430 USD. 

If the bears resume their onslaught, the price will test the level of 0.350 USD. 

* All prices are based on BitStamp data

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