April 17, 2021

Analysis of the prices of Bitcoin, Ethereum, XRP for 04/07/2021

Analysis of the prices of Bitcoin, Ethereum, XRP for 04/07/2021

XRP price reached a three-year high around 1.118 USD and intends to continue to grow in the near future, which since the beginning of April has already amounted to more than 100%.

BTC / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 04/07/2021

Yesterday in the morning, the BTC price rolled back to the support of 58000.00 USD. This level stopped the decline, but the bearish pressure did not stop.

In the afternoon, the couple pierced the support,and sank to the area of ​​the 57210.00 USD mark tonight. If sales volumes decrease today, then the bulls will restore the price to the resistance of 60,000.00 USD and will try to find a gap in the bears' defense in order to continue the recovery to the March high zone.

On the other hand, if sellers increase the volume, the pair's decline may reach the support of 55000.00 USD.

ETH / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 04/07/2021

Yesterday morning, trading volumes decreased and the priceEthereum was unable to continue to rise to a new all-time high. During the day, the pair consolidated in a sideways range, taking advantage of the support at the level of 2100.00 USD.

In the evening, sellers still managed to pierce this support and test the two-hour EMA55, but at the end of the day the pair returned to the consolidation area at 2100.00 USD.

Today, with low activity of market participants,consolidation in the side channel will continue. If buyers manage to form a weak bullish momentum, then the pair will break through the resistance of 2150.00 USD and renew the maximum around 2170.00 USD.

XRP / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 04/07/2021

Yesterday morning, buyers continued to pump the priceXRP and closer to lunch have already tested the psychological mark of one dollar per coin. As a result, large volumes of sales drove the price of Ripple down sharply, but the bulls were ready for such a bearish onslaught at this level. By the end of the day, they quickly recovered the pair, and at night they were able to continue to rise to a new April high at 1.118 USD.

It took the XRP price three long years toreturn above the level of 1.000 USD. What should we expect from the asset in the near future? If the XRP price can gain a foothold above the psychological level of 1.000 USD, then the growth may continue to the area of ​​1,200 USD. We believe that buyers will have to fight a little for new highs at this point.

* All prices are based on BitStamp data

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