December 4, 2021

Analysis of the prices of Bitcoin, Ethereum, XRP for 11/20/2021

Analysis of the prices of Bitcoin, Ethereum, XRP for 11/20/2021

After a weekly low, the Bitcoin price is trying to recover to a blaze of average prices. Will the bulls be able to do this the minimum to complete the local down-trend and start a counteroffensive?

BTC / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 11/20/2021

This week, the local minimum of the BTC price was fixed at the point of 55640.00 USD. The bears did not manage to test the 78.6% fibo level (55287.64 USD).

Yesterday morning, the couple turned around for recovery,and by the end of the day it consolidated in the support area of ​​58000.00 USD. Buyers are trying to continue the rise to the psychological level of 60,000.00 USD tonight. The success of this event depends on the breakout of the two-hour EMA55 and further confirms the end of the local down-trend.

If the couple cannot continue by the end of the weekIf the recovery is above 60,000.00 USD, then it is too early to talk about a reversal. The bears will try to break the 78.6% Fibonacci level and re-test the orange support of 53400.00 USD.

ETH / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 11/20/2021

Ethereum price held higher yesterday morningpsychological level 4000.00 USD and by the middle of the day recovered to the hourly EMA55. In the evening, the volume of purchases increased, so the pair was able to test the green level of 4300.00 USD by the end of the day. It turned out to be not so easy to break above it.

The price marked a local maximum tonightin the area of ​​4340.00 USD, and in the morning it returned to the two-hour EMA55. If today this moving average keeps the pair from falling, then it would be possible to count on a recovery to the area of ​​4500.00 USD.

On the other hand, if the bears push the level of average prices and break the POC indicator line (4203.68 USD), then we will expect a continuation of the downtrend towards the support area of ​​3800.00 USD.

XRP / USDAnalysis of the prices of Bitcoin, Ethereum, XRP for 11/20/2021

Sellers could not test yesterdaypsychological mark 1.00 USD. After a weekly low at 1.047 USD, XRP price recovered to the 2-hour EMA55. Until this morning, buyers have not been able to overcome the resistance of the average price level.

During the day, bears can push the pair back below the POC line (1.088 USD), and then by the end of this week the Ripple price will break through the psychological level of 1.00 USD, continuing to decline to the 0.960 USD area.

* All prices are based on BitStamp data

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