Analysis of the prices of Bitcoin, Ethereum, XRP for 05/14/2021

The decline in the market has slowed down, but by the end of this week the bears may intensify the onslaught.

BTC / USD

Yesterday priceBTC failed to stay above 50,000.00 USD and gradually decreased to the weekly low zone. Selling pressure was limited by the 61.8% fibonacci level (47745.68 USD). Fibonacci levels were built based on the maximum at the point 64895.92 USD, set on April 14, and the psychological mark of 20000.00 USD was taken as the zero level. 

If by the end of this week the bears push through the 61.8% fib level, then support at 46000.00 USD will not be able to keep the pair from retesting the fifty percent fibonacci level (42447.96 USD). 

ETH / USD

Yesterday morning the price of Ethereum tried to stay atnear the two-hour EMA55, but sellers pushed the pair to yesterday’s support at 3600.00 USD. Sales volumes exceeded the average level and the bears pierced the support, approaching the 3500.00 USD mark. 

Tonight sales volumes decreased and pricesEthereum was able to recover above the level of 3800.00 USD, but the moving average EMA55 limits further growth. We believe that by the end of the week the pair will be able to consolidate around the 3500.00 USD mark in short-term consolidation. 

XRP / USD

Yesterday, the XRP price desperately clung to support atlevel 1.315 USD. The bears pushed the pair below the yellow support level several times, but failed to test the local minimum zone. 

As of this morning, buyers are on decliningvolumes returned the price to support 1.315 USD. However, the forecast for a price reduction to around 1,150 USD remains still relevant. By the end of this week, the pair will test this level and the bears will target the psychological markone dollar per coin. 

* All prices are based on BitStamp data

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