April 17, 2021

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

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

Yesterday bears dominated the market and achieved significant price reductions. Will sellers today be able to increase the onslaught?

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

Buyers tried to recover the price yesterday morning but could not overcome the 2-hour EMA55.

From the level of average prices, sellers increased their volumes andbefore the end of the day, the pair dropped to 55440.00 USD. The price bounced off this April low overnight and recovered to the USD 56,000.00 area. Recovery is proceeding slowly, at decreasing 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 / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 04/08/2021

Volume was low yesterday morning and the pairfor some time it moved in a lateral direction. The onslaught of sellers began to be felt in the first half of the day, and the Ethereum price rolled back below the psychological mark of 2000.00 USD.

In the afternoon, the pressure increased and the pair marked a local minimum at the point of 1930.00 USD. The rebound was not high and the day ended with consolidation around the 1980.00 USD mark.

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

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

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

Yesterday, the pair failed to gain a foothold above the psychological level of $ 1 per coin. The bears rolled 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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