Bitcoin, Ethereum, XRP price analysis on 02/05/2022

Yesterday the bulls intensified their pressure and the price of Bitcoin recovered above the psychological level of $40,000, and the price of Ethereumtested resistance at $3000.

BTC / USD

Yesterday, the price of Bitcoin consolidated above the two-hour EMA55. In the afternoon, the bulls intensified their pressure and a powerful impulse broke through the psychological resistance of 40000.00 USD. 

Tonight the growth continued and the pair came closeapproached the level of 42000.00 USD. A re-test of the 50% fib (42447.61 USD) is expected during the day. We believe that this weekend the fifty percent Fibonacci level will act as resistance and will keep the price sideways. 

ETH / USD

Yesterday morning, the rise in the price of Ethereum reached resistance at 2800.00 USD. In the second half of the day we managed to gain a foothold above this level and continue to grow. 

The pair tested the psychological level of 3000.00 USD tonight. If the purchase volumes do not decrease over the weekend, then by the end of the week the price of ether will reach the resistance of 3200.00 USD.

XRP / USD

Yesterday, buyers were able to increase volumes and pricesXRP broke through weekly resistance at 0.630 USD. Tonight the growth continued, but until the morning the pair had not yet tested the orange resistance of 0.700 USD. 

If the market remains positive, thenRipple price will continue to rise and reach the target of 0.700 USD. We believe that this level may limit the further recovery of the XRP/USD pair until the beginning of next week.

* All prices are based on BitStamp data

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