Bitcoin, Ethereum, XRP price analysis for 03/06/2021

The market returned to the area of average prices and gives reason to count on the continuation of the recovery dynamics.

BTC / USD

Yesterday, buyers tried to restore the BTC/USD pair to the area of average prices, and already in the afternoon the price tested the two-hour EMA55. 

Late in the evening the growth continued on small volumes.The price has overcome the resistance of the moving average EMA55 and is now trying to consolidate above this level. As of this morning, the situation is such that small sales have pressed the pair tightly against the EMA55 curve. 

The bears are trying to test the 48000 support.00 USD. We believe that this support level can return the recovery dynamics to the pair, and before the end of the week, the bitcoin price will recover above the psychological mark of 50,000.00 USD.

ETH / USD

Yesterday, buyers managed to form a bullish impulse, slightly exceeding average trading volumes. As a result, the price of ether broke through the resistance of the two-hour moving average EMA55. 

At night, the volumes were significantly reduced, and the coupleis held in consolidation above the level of average prices. Nevertheless, today in the morning, the pullback will continue to the level of 1500.00 USD. From this level, buyers will resume attempts to restore the Ethereum price, and by the beginning of next week the pair may test the 1700.00 USD mark.

XRP / USD

Yesterday the XRP price rolled back to the upper limitside corridor 0.450 USD. The interest of market participants in trading instruments was so low that trading volumes remained at an extremely low level throughout the day. As a result, the price consolidated in a narrow sideways range in the four-hour EMA55 area. 

If buyers manage to revive trading, the pair will recover above the psychological level of 0.500 USD. 

* All prices are based on BitStamp data

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