Analysis of the prices of Bitcoin, Ethereum, XRP for 01/03/2022

At the beginning of the new year, the market is held in the area of average prices.Will the bulls be able to start in the near futureintensive price recovery?

BTC / USD

On the last day of the outgoing year, the bearish onslaught was so strong that it was able to push the price of bitcoin out of the area of average prices to the support of 46000.00 USD.The price broke through the support and set a local low around 45655.00 USD. 

On New Year's Eve, the pair recovered and returned to the two-hour EMA55 on January 1.By the end of the week, trading volumes decreased and the price lazily consolidated in the area of average prices.The upper border of the corridor was the descending moving average, but the pair has not yet fallen below the level of 46660.00 USD. 

This morning, trading volumes are still below average  and the price continuesIn the near future, there is a possibility of a bullish breakout above the 61.8% Fib level (47745.25 USD). 

If buyers fail to overcome the resistance of the average price level, the pair will return to the area of December lows. 

ETH / USD

On December 31, the price of Ethereum rolled back to the weekly low, and on the night of January 1, the pair was able to recover to the two-hour EMA55. 

On Sunday, January 2, the price of ether managed to break through the moving average and gain a foothold in a narrow consolidation in the support area of 3800.00 USD.If today buyers are able to take advantage of the support of the average price level, they will try to return the pair to the psychological level of 4000.00 USD. 

Otherwise, if the price falls below the two-hour EMA55, it mayIf the price starts falling towards the support of 3400.00 USD, the price may be negative. 

XRP / USD

At the end of December, sellers pushed the price of XRP to the support of 0.800 USD, but in the new year, buyers were able to return the pair above the two-hour EMA55.However, the pair failed to gain a foothold above the moving average and sank to the area of 0.840 USD. 

Today, the decline may continue towards the POC line (0.828 USD).in the Point Of Control area, it will be possible to avoid a negative scenario of a decline in the price of Ripple.Recall that in case of prevailing pessimistic sentiment in the market, we predicted that the pair would fall below the support of 0.800 USD. 

* All prices are based on BitStamp data

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