Bitcoin, Ethereum, XRP price analysis on 05/04/2020

On Sunday, sellers rolled back prices below the average, can buyers recover?

BTC / USD

Last weekend, shoppers triedcontinue the recovery and achieved a re-test of resistance at 9200.00 USD, however, the bears returned the Bitcoin price to the average level of the two-hour EMA55. Sellers punctured the two-hour moving average, but it kept the pair in an upward trend. 

Today in the morning the price of BTC will beis in short-term consolidation right at the level of average prices. If the bears resume pressure and push through the two-hour EMA55, the decline will be stopped by the green dotted trend support line. At the same time, the chances of continuing the bull run will still remain.   

If today, from the level of average prices, buyers are able to form a bullish impulse, then the price on recovery will again hit resistance at 9200.00 USD. 

ETH / USD

On Saturday, the price of Ethereum was in an upward trendthe green channel, and on Sunday the bears pushed through the support of the dotted trend line and knocked the pair out of the ascending green channel. The two-hour EMA55 tried to stop the price decline, but this morning the pair tested the psychological mark of 200.00 USD. 

From this support level, buyers could recover to the area of ​​average prices (210.00 USD), but will they have the strength to overcome the resistance of the two-hour moving average? 

We believe that today bearish pressure will intensify and the price will roll back to a fairly strong support level of 78.6% fib (192.57 USD). 

XRP / USD

On Sunday trading volumes graduallydecreased and the recovery dynamics of Ripple faded. Sellers on small volumes rolled back the price to the two-hour EMA55, and tonight they broke through the level of 0.213 USD and tested the support of the dotted trend line. 

This morning the price rebounded to the area of ​​0.213 USD, but we believe that during the day the decline may continue to the lower border of the green corridor to the zone of the psychological mark of 0.200 USD. 

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