March 28, 2024

Analysis of the prices of Bitcoin, Ethereum, XRP for 03/31/2021

Analysis of the prices of Bitcoin, Ethereum, XRP for 03/31/2021

Yesterday, the bulls broke through the defense of sellers at the level of 58000.00 USD and set the daily maximum price of BTC above the level59300.00 USD.

BTC / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 03/31/2021

Yesterday morning there was weak support in the area of ​​57100.00 USD stopped the decline in the price of Bitcoin and the bulls resumed their attempts to overcome the resistance of 58000.00 USD. In the first half of the day, the price recovered to this key level and consolidated above it. During the day, the bulls intensified their pressure, as a result of which the daily maximum was recorded in the area of ​​59380.00 USD. 

At the end of the day, trading volumes decreased, the pair found support at the level of 58400.00 USD and consolidated sideways until the morning. 

Judging by the short pullback, today the bulls intendcontinue the pair's recovery towards the monthly high. However, since last week the recovery has not been supported by large volumes. If this trend continues on the last day of the month, then the bulls will not have time to reach the March maximum zone. 

Another obstacle on the way to updating the maximum– this is psychological resistance at the level of 60000.00 USD. This level has already turned the pair into a fairly deep rollback several times. There is no firm confidence yet that today the bulls will be able to break through the defenses of the bears and gain a foothold in the maximum zone. 

At the same time, a fairly powerful bullish impulse from a large buyer can break through the psychological level of 60000.00 USD and, in early April, update the absolute maximum in the area of ​​62100.00 USD. 

ETH / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 03/31/2021

Yesterday morning sales volumes were quite small,therefore, the pullback in the price of ether was shallow. Buyers found support near the POC line and tried to restore the price to the upper border of the blue corridor. 

By the end of the day the couple was able to testresistance is at 1860.00 USD, which has kept the ETH price in a sideways range until this morning. If the bulls are able to increase the volume of purchases, then today they would update the March maximum around 1950.00 USD. 

If the upper border of the blue corridor keeps the pair in a sideways range, then the price will roll back to the two-hour EMA55. 

XRP / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 03/31/2021

Yesterday, the XRP price failed to break above level 0.580 USD and at the end of the day returned to the level of 0.560 USD. The pair's lack of pronounced recovery dynamics above the resistance of 0.600 USD may trigger a rollback below the two-hour EMA55. 

Strengthening the positions of sellers in the market may lead to a drop in prices below the psychological level of 0.500 USD. 

* All prices are based on BitStamp data

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