Analysis of the prices of Bitcoin, Ethereum, XRP for 07/17/2021

The Bitcoin price has updated its July minimum and may continue to decline towards the psychological mark of 30,000.00 USD, howeversome recovery of the market is expected at the beginning of next week.

BTC / USD

Bitcoin price marked a new July yesterdayminimum around 31000.00 USD. In the afternoon, trading revived slightly, and buyers tried to restore the pair to the mid-range, but failed to test the 2-hour EMA55 until the end of the day.

At night, trading volumes decreased, whilesellers were able to return the pair to the area of ​​the recent low. If bearish pressure intensifies, the pair will break through the support of the 23.6% fib level (30595.44 USD) and test the psychological mark of 30000.00 USD. 

At the end of the week, the price of BTC may recover above the level of the two-hour moving average EMA55. 

ETH / USD

Yesterday afternoon the upper border of the blue corridor(1860.00 USD) kept the price of Ethereum from further decline. Buyers tried to restore the pair to the psychological level of 2000.00 USD, but the recovery was not supported by large volumes and the price was not even able to test the two-hour EMA55. 

At night trading volumes were below average andas of this morning the pair is returning to support at 1860.00 USD. If the pressure of the bears intensifies, the decline will continue to the lower border of the blue corridor 1735.00 USD, which in turn may turn the pair to recovery in the area of ​​average prices. 

XRP / USD

Yesterday, Ripple purchase volumes significantly exceeded the average trading level, but this surge did not allow buyers to break through the two-hour EMA55. 

In the evening, trading volumes decreased sharply and the price began to decline, and tonight the pair updated the July minimum at 0.560 USD. 

In the morning there is a slight rebound, but if there is no support from a large buyer, the decline will continue to a new monthly low around 0.540 USD. 

* All prices are based on BitStamp data

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