Analysis of the prices of Bitcoin, Ethereum, XRP for 04/08/2021

Yesterday, the bears ruled the market and achieved a significant reduction in prices. Will sellers today be able toincrease the onslaught?

BTC / USD

Yesterday morning, buyers tried to restore the price, but were unable to overcome the two-hour EMA55. 

From the level of average prices, sellers increased volumes andBy the end of the day, the pair’s decline reached 55440.00 USD. Overnight, the price rebounded from this April low and recovered to the area of ​​56,000.00 USD. The recovery is slow, with declining volumes. 

Buyers will try to return the pair this morningto the moving average EMA55. In the afternoon, the decline may resume, and if the bears intensify the onslaught, the price will break through the support of 55000.00 USD and renew the monthly minimum around 54000.00 USD.

ETH / USD

Yesterday morning trading volumes were low and the pairmoved sideways for some time. The onslaught of sellers began to be felt in the first half of the day, and the price of Ethereum rolled back below the psychological level of 2000.00 USD.  

During the day, the pressure intensified and the pair marked a local minimum at 1930.00 USD. The rebound was low and the day ended with consolidation around the 1980.00 USD mark. 

Volumes decreased tonight and consolidation continued until the morning. Buyers have already tested the psychological level of 2000.00 USD several times, but have not yet been able to overcome it. 

If today sellers form the same bearish impulse as yesterday, the pair will roll back to the support of 1860.00 USD. 

XRP / USD

Yesterday the pair was unable to gain a foothold above the psychological level of $1 per coin. The bears pulled back the price below the support of 0.900 USD, setting the daily low at 0.855 USD. 

After the rebound, the pair tried to consolidateslightly above the support of 0.900 USD, but today the bears may push through this weak support and continue the pullback to the level of 0.800 USD. We believe that in the area of ​​average prices the decline will slow down and the volatility of the pair will decrease.

* All prices are based on BitStamp data

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