Analysis of prices of Bitcoin, Ethereum, XRP for 23.02.2021

Yesterday's bearish impulse knocked the Bitcoin price out of the ascending channel and forced it to test support atlevel 48000.00 USD.

BTC / USD

Yesterday in the morning the price of Bitcoinrolled back to the support of the two-hour EMA55 (to the area of ​​54000.00 USD). During the day, bear pressure increased. They pushed through the moving average and rolled the pair back to the ascending trend line (52500.00 USD). 

According to our forecasts,published last Friday, another bearish impulse knocked the pair out of the ascending channel and tested the support of 48000.00 USD, setting a local minimum at 47400.00 USD. As we expected, the BTC price rebounded above the blue trend line, but the pair was unable to stay in the ascending channel until the morning. 

Today the price is trying to gain a foothold in the area of ​​52500.00 USD, but if the bearish pressure increases, the price will return to the area of ​​yesterday's low. Support of 48000.00 USD will be able to stop the decline and reverse the pair to recover.

ETH / USD

Yesterday morning the pressure from sellers intensified, andDuring the day they rolled back the pair below the support of 1800.00 USD. In the afternoon, the price of ether broke through the blue trend line, setting a minimum around 1540.00 USD. Before the end of the day, the price rebounded into the ascending channel, but it is not yet possible to gain a foothold in it. 

As of this morning, sales volumes have decreased, buteven on low trading volumes, the pair may return to support around 1500.00 USD. We believe that this level will stop the decline and allow the pair to consolidate sideways. 

XRP / USD

Yesterday morning, a strong bullish impulse attempted to restore the XRP/USD pair to an ascending channel. The price broke through the resistance of 0.600 USD and set a new February high at 0.649 USD. 

However, the price could not stay higherrising trend line and returned to the area of ​​average prices in the second half of the day. It seemed that the four-hour moving average EMA55 would be able to stabilize the increased volatility, but trading was quite active, with large volumes, and price fluctuations in a wide range continued until the end of the day. 

At night, volumes decreased, and the XRP price consolidated around the 0.540 USD mark. This morning the decline may continue towards the psychological support of 0.500 USD. 

* All prices are based on BitStamp data

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