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

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

BTC / USD

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

Before the end of the day, buyers were able to return the pairin the area of ​​the mark of 19500.00 USD, however, it still has not been possible to gain a foothold in the zone of the weekly high. Bitcoin price fell back into the average price area tonight.

We expect support from the POC line this morning. Если в районе индикаторной линии Volume Profile покупатели смогут развернуть пару, то до конца дня быки попытаются закрепиться выше уровня 100% фибо (19666.00 USD).

ETH / USD

Вчера скользящая средняя EMA55 в течение всего kept the ETH price from a deep pullback. In the evening, buyers even managed to restore the pair above the POC line, but tonight the price returned to the support of the hourly EMA55 again.

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

XRP / USD

Yesterday sellers pressed the price of Ripple throughout the day and achieved a decline in the pair to the level of 0.450 USD.

The pair hit a monthly low tonight atpoint 0.437 USD and is trying to gain a foothold in the support area of ​​0.444 USD. If the bears push through this weak support level, then the decline will continue to the 0.400 USD area.

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

Subscribe to ForkNews on Telegram