Analysis of the prices of Bitcoin, Ethereum, XRP for 08/19/2021

Yesterday, bearish pressure eased, but buyers were unable to achieve a significant market recovery.Should we expect a renewed bearish onslaught today?

BTC / USD

Yesterday buyers tried to restore the priceBitcoin, but were unable to overcome the double resistance at the point of intersection of the two-hour EMA55 with the level of 46000.00 USD. In this area, the price reversed and returned to the weekly low zone – 44400.00 USD. 

At night the bear pressure weakened, butThe pair is unable to recover higher than 45200.00 USD. Our forecast for a decline to the fifty percent Fibonacci level (USD 42,447.98) is still relevant. 

If the bulls achieve a recovery, it will be limited to the two-hour EMA55. 

ETH / USD

Ethereum price tried to stay higher yesterdaypsychological mark 3000.00 USD. In the second half of the day, buyers achieved a dynamic recovery of the pair, but it was not supported by large volumes, so by the end of the day the growth stopped around the four-hour EMA55. This moving average reversed the pair and the price of Ether returned to the support of 3000.00 USD. 

Currently trading volumes are below averagelevel, so a slight preponderance on the part of buyers can lead to an increase in the price of ETH to the EMA55 area, and if sellers seize the initiative in the market, they will be able to push through the psychological support of 3000.00 USD and roll back the pair to the area of ​​2900.00 USD.

XRP / USD

Yesterday the XRP price managed to stay higherfour-hour EMA55. Buyers actively tried to restore the price, but they failed to overcome the resistance of 1,200 USD. Tonight, a weak recovery attempt was repeated, but with the same success. 

In the morning, trading volumes decreased and the price of Ripplemay settle into short-term consolidation. The lower boundary of the side range can be the four-hour moving average EMA55. If the bears are able to push through it, the price will roll back to the psychological support of 1.00 USD. 

* All prices are based on BitStamp data

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