Analysis of the prices of Bitcoin, Ethereum, Ripple for 12/16/2020

Yesterday the bulls were unable to continue their run to new highs. Sellers continue to control the top-end marketaltcoins and put pressure on prices in the area of ​​the nearest support levels.

BTC / USD

Yesterday morning, the price of BTC rolled back to the hourly EMA55. Sellers were able to break through the support of the moving average, but it withstood the bearish onslaught and turned the pair for recovery. 

Before the end of the day, buyers were able to return the pairto the area of ​​19500.00 USD, however, it is still not possible to gain a foothold in the weekly high zone. Tonight the price of Bitcoin rolled back to the area of ​​average prices. 

We are expecting support from the POC line this morning.If buyers are able to reverse the pair in the area of ​​the Volume Profile indicator line, then by the end of the day the bulls will try to gain a foothold above the 100% fib level (19666.00 USD). 

ETH / USD

Yesterday the moving average EMA55 throughoutday kept the ETH price from a deep rollback. In the evening, buyers were even able to restore the pair above the POC line, but tonight the price again returned to the support of the hourly EMA55. 

If sellers push through this level of average prices, the pair will continue to decline towards the support of 560.00 USD. 

XRP / USD

Yesterday, sellers put pressure on the price of Ripple throughout the day and managed to reduce the pair to the area of ​​0.450 USD. 

Tonight the pair marked a monthly low ofpoint 0.437 USD and is trying to consolidate in the support area of ​​0.444 USD. If the bears push through this weak support level, the decline will continue to the area of ​​0.400 USD. 

If consolidation continues in the area of ​​weak support this morning, buyers will restore the pair to the area of ​​average prices by the end of the day.

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

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