Analysis of the prices of Bitcoin, Ethereum, XRP for 09/20/2021

A sharp decline in the market could lead to new monthly lows.

BTC / USD

Last Saturday priceBitcoin updated its weekly high at 48834.00 USD, but it was no longer possible to continue growing on such small volumes to the level of 49000.00 USD. 

In the afternoon the sellers beganput pressure and returned the price to the 61.8% fib level (47745.68 USD). On Sunday, the bears broke through this level and the pair continued to retreat below the two-hour EMA55. 

As of this morning, the price of BTC has already broken throughsupport 46000.00 USD, setting a minimum around 45135.00 USD. In the event of excessive panic in the market, a powerful bearish impulse cannot be ruled out, which is capable of testing the fifty percent Fibonacci level (42447.96 USD). 

ETH / USD

On Saturday, the price of Ethereum recovered above the two-hour EMA55 level, but was unable to continue growing into the weekly high zone. 

Trading volumes decreased in the afternoonand the price of ether began to decline. By the end of the day, the pair reached support at 3400.00 USD, and on Sunday the bears pushed through the green support and continued to decline. 

This morning, the sellers pierced anothersupport level 3200.00 USD. Perhaps this support will ease the bearish pressure and the price of ETH will rebound. However, in case of an increase in sales volumes, the price will continue to fall to the psychological level of 3000.00 USD.

XRP / USD

Over the weekend, the XRP price failed to recover above the two-hour EMA55 level and fell back to the weekly low. 

Tonight the onslaught of bears intensified. The pair broke through the psychological level of 1.00 USD, setting a local minimum around 0.967 USD. 

During the day, bears may continue to decline to a new September low in the support area of ​​0.900 USD. 

* All prices are based on BitStamp data

Subscribe to ForkNews on Telegram