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

The market continues to consolidate in the area of ​​average prices, but the flat trend will soon end. What to expectmarket participants?

BTC / USD

Yesterday, buyers continued their attempts to restore the pair to the blue channel, and during the day the BTC price was able to test the upper limit of the sideways range (35,000.00 USD). 

However, purchase volumes do not yet exceed averagelevel, so for the second week the pair is consolidating sideways, within the narrowing orange range. Tonight the price of Bitcoin again fell out of the blue corridor, but during the day it will be able to test its upper limit again. 

In the second half of this week, a false bullish breakout to the 38.2% Fibo level (37150.24 USD) is possible. We believe that this level is able to bring the pair back to the support of 32500.00 USD.

ETH / USD

Yesterday morning, on small volumes, the price of Ethereum was able to gain a foothold above the hourly EMA55. During the day, buyers managed to test the level of 2340.00 USD, but have not yet been able to break above it. 

Pay attention to the orange dotted linesupport line, which for the second week keeps the pair from a deep rollback. If in the second half of the week the bears push it, the price will fall below the psychological level of 2000.00 USD. 

XRP / USD

Yesterday, Ripple trading volumes were lowlevel and the price continued to consolidate in the hourly EMA55 area. In the evening there was a slight increase in volumes, but it did not in any way affect the low volatility of the pair. 

The price consolidation will soon end. Our forecast for the pair to decline to the support of 0.600 USD remains relevant as before. 

* All prices are based on BitStamp data

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