Analysis of the prices of Bitcoin, Ethereum, XRP for 10/05/2021

The market is holding above the average price area, but a decline towards immediate support should be expected soon.

BTC / USD

Yesterday during the day the price of Bitcoinconsolidated in a narrow sideways range at the 61.8% fib level (47745.68 USD). In the evening, sellers became more active and rolled back the BTC price to the daily minimum at 46900.00 USD. 

The price reduction aroused interest among potentialbuyers and purchase volumes began to gradually increase. Overnight, the pair set a new October high around 49811.00 USD. As of this morning, the bulls have not yet managed to test the psychological mark of 50000.00 USD. 

If there is no customer activity during the daydecreases, then the price will be able to briefly exceed the fifty thousand barrier. However, it will no longer be possible to gain a foothold in the maximum zone, and the pair will return to a narrow sideways corridor at the 61.8% fibonacci level (47745.68 USD). 

ETH / USD

Yesterday, buyers desperately fought against resistance at 3400.00 USD. In the evening they managed to break above this level and set a daily maximum in the area of ​​3440.00 USD. 

However, the bears did not allow the price of ether to gain a foothold in the maximum zone and pushed the pair beyond the “green line” of 3400.00 USD. 

If today trading volumes are below the average level, then the ETH price will roll back to the support of 3200.00 USD. 

XRP / USD

Yesterday during the day the price of XRP closelyapproached the psychological level of 1.00 USD, setting the daily low at 1.007 USD. Sales volumes were slightly above average, but the bears failed to test the green support of one dollar. 

This morning, buyers are trying to keep the price above this psychological mark, but if the bears intensify the onslaught today, they will break through the average price level and pull the pair back to the 0.950 USD area.

* All prices are based on BitStamp data

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