Analysis of the prices of Bitcoin, Ethereum, XRP for 10/21/2020

This morning the price continued to rise above the psychological level of 12000.00 USD. Will the bulls manage to renew the annualmaximum?

BTC / USD

Yesterday, the price of Bitcoin was able to continue its growth and broke through the upper limit of the expanding blue range, and late in the evening it set a maximum around 12060.00 USD. 

An interesting feature of yesterday's growth isthe fact that the rest of the altcoins not only “did not support the cryptocurrency flagship”, but quite the contrary, they showed an inverse correlation, as if its growth was due to the “flow” of funds. This is confirmed by the increase in the Bitcoin dominance coefficient.  

At night, the pair returned to the upper border of the bluerange and groped for support. Growth resumed early in the morning and the price has already managed to update its two-month high to the level of 12,250.00 USD. Growth is taking place at low volumes, but given the explosive feature of the thin market, the price could well update the annual maximum of 2020, which was set on August 18 at around 12,473.00 USD.

It is very likely that after the October maximum around 12500.00 USD, the pair may begin a sharp decline and return to the average price area. 

ETH / USD

Yesterday, the price of Ethereum did not support the growth of Bitcoin andfell back below the average price level. Ethereum's rise only began this morning as bulls try to update the flagship cryptocurrency's yearly high. 

Let's see if buyers today canovercome the powerful resistance of 380.00 USD, and test the psychological mark of 400.00 USD. We believe that in this zone there is a high probability of a reversal into a rollback below the support of 360.00 USD. 

XRP / USD

The price of Ripple, like most other altcoins, failed to show growth yesterday. The pair rolled back below the average price level, to the light green trend line, and only there found support. 

This morning the price of XRP consolidated abovemoving average EMA55 and has a chance to continue growing above the resistance of 0.250 USD, but recovery to the zone of monthly highs – is still in question.

* All price values ​​are based on data from the BitStamp exchange

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