Bitcoin, Ethereum, XRP price analysis on 05/09/2020

We determine support levels that will preserve the bulls' chances of continuing the run.

BTC / USD

Yesterday priceBitcoin rolled back from the maximum zone to the areamarks 9750.00 USD. Buyers tried to continue growing, but trading volumes did not exceed the average level, the pair's dynamics were sluggish, and the BTC price was unable to reach the recent high of 10074.00 USD. 

After a repeated unsuccessful breakout, the steam againrolled back to the zone of 9750.00 USD. Today, the rollback can reach the level of 38.2% Fibo (9441.98 USD). We believe this support will be able to stop the rollback and allow buyers to form another bullish momentum to break into the area of ​​the annual maximum of 10,500.00 USD.

 rollback below level 38.2% Fibonacci now may be an alarming signal for continued decline to the lower border of the ascending channel. If the bears are able to push the price beyond the support trend line, then there is a high probability of a change in the uptrend. 

ETH / USD

Yesterday, the two-hour EMA55 supported the ETH/USD pairsupport and the price consolidated above the moving average. However, the volume of purchases decreased significantly and the price of ether was unable to continue growing towards the target level of 100% fib (222.98 USD). 

Buyers still have a chance to break through100% Fibonacci level resistance and break the April high record.  Perhaps the chances will remain even if the price rolls back to the descending purple dotted line, to the area around 203.00 USD. 

Worse if bears sell Ethereum belowpsychological level 200.00 USD. However, we believe that a breakout of support of 78.6% Fibo (192.57 USD) may be a critical level of non-return. This can lead to a change in trend.

XRP / USD

Yesterday, the XRP/USD pair was able to cling to the average price level and broke through the resistance of the purple dotted line. 

At night the price consolidated above the descending linetrend and today will try to return to the ascending channel above the dotted green support line. This will allow buyers to break through to the area of ​​the April high by the end of this week and continue to grow towards the 0.240 USD mark. 

 

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