Analysis of the prices of Bitcoin, Ethereum, XRP for 07/16/2021

Yesterday, bears pushed prices away from resistance in the form of a two-hour EMA55, but buyers will try to return toarea of ​​average prices.

BTC / USD

Yesterday morning, buyers were unable to formimpulse to break through the dotted downward trend line. Bearish pressure forced the price of Bitcoin to update its July low to around 31,121.00 USD. Late in the evening the pressure from sellers weakened and over the past night the pair was able to recover to the level of 32000.00 USD. 

Stoch indicator lines on the daily time frameRSI has come close to the zero mark in the oversold zone, forming a signal for an increase in prices. However, the overnight recovery of the pair has not yet been supported by large volumes, so it is quite possible that the bears are aiming to test the 23.6% Fibo level (30595.43 USD).

ETH / USD

Yesterday morning, the price of Ethereum failed to break above the two-hour EMA55. In the first half of the day, trading volumes decreased and sellers began to push the price below the psychological level of 2000.00 USD. 

By the end of the day they did not manage to update the monthly low, and at night buyers seized the initiative in the area of ​​1880.00 USD and tried to return the pair to the area of ​​average prices. 

For this morning, the volume of purchases is still verysmall and the recovery is proceeding at a slow pace, but if buyers increase in volume, then during the day the price of ether can return to the level of two thousand dollars per coin.

XRP / USD

Yesterday morning, the XRP price recovery was limitedtwo-hour EMA55. Buyers were unable to break through this moving average and retreated to the level of 0.588 USD. The bears failed to update the monthly minimum and overnight the pair almost completely recovered to the area of ​​average prices. 

Due to small volumes, further growth is still difficult, but if buyers are able to form a bullish impulse, the price will be able to consolidate above the Point Of Control line (0.621 USD). 

* All prices are based on BitStamp data

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