Analysis of the prices of Bitcoin, Ethereum, XRP for 04/24/2021

The bearish onslaught has punctured key support levels. Will buyers be able to restore in the near future?pairs above the average price level?

BTC / USD

Last night the bearish impulse broke through the yellowsupport at 51600.00 USD and during the first half of the day the price of BTC rolled back below the psychological level of 50000.00 USD. Our forecast, published at the beginning of this week, has fully worked out. 

The pair's fall was stopped by purple support48000.00 USD, and in the afternoon the price recovered above fifty thousand, trying to gain a foothold above this psychological level. The support feels quite weak right now, and if the bearish pressure intensifies until the end of the week, the BTC price may test the level of 46000.00 USD. 

At the same time, on the daily time frameStoch RSI indicator lines reached zero in the oversold zone. If the bulls can keep the price above fifty thousand dollars, then short-term consolidation in a sideways range is possible, while the price of Bitcoin may recover to the yellow support area of ​​51600.00 USD. 

ETH / USD

In the second half of this week, the price of Ethereumwas able to find support at the lower border of the ascending channel and on Thursday tried to test its upper border. However, at night sellers returned the pair to the lower trend line and with a strong bearish impulse broke through the average price level, setting the daily minimum in the support area of ​​2100.00 USD. 

Friday afternoon shopperswere able to restore the pair to the area of ​​average prices, but it is not yet possible to stay above the two-hour EMA55. If trading volumes are small over the weekend, the price will consolidate sideways along the moving average EMA55. 

If the bears continue to put pressure on the prices in the market, the pair will continue to decline to the support of 2000.00 USD.

XRP / USD

Our forecast for the pair to decline to the psychological level of 1.00 USD per coin was completely justified. The XRP price broke this support, setting a weekly low at 0.915 USD. 

Yesterday during the day, buyers tried to restore the price, but were still stuck in the area of ​​1,150 USD. We believe that consolidation in the resistance area of ​​1.200 USD will last until the end of this week. 

* All prices are based on BitStamp data

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