Bitcoin, Ethereum, XRP price analysis on 05/13/2020

Buyers were able to recover to the area of ​​average prices. Will they be able to return to soon?ascending channel?

BTC / USD

Yesterday, buyers were able to restore the pair to the average price area. All evening they tested the strength of the two-hour EMA55, but were unable to break the resistance of this moving average. 

It should be noted that trading volumes are significantlyhave decreased and at low volumes buyers are not yet able to test the green dotted line of the uptrend. Today, after a slight pullback, attempts to break through the average price level will continue, and if purchase volumes can be increased, then a re-test of the ascending dotted trend line is possible. 

Will the bitcoin price be able to return to the green upstream channel in the near future?On larger time frames we see that inin the oversold zone, the Stoch RSI indicator lines form a buy signal. We believe that buyers have potential for growth. Perhaps, by the end of the week, the price of Bitcoin will consolidate above the trend line and will try to storm the resistance of 38.2% fibo (9441.98 USD) in order to continue the bullish rally. 

However, it looks very likely that price dynamics may form a chart patternHead-Shoulders. If this assumption is correct, then we expect a rollback to the support zone of 7600.00 USD.

ETH / USD

Yesterday trading took place at medium volumes, andbuyers were able to achieve a re-test of the 78.6% fib resistance (192.57 USD). This morning, on declining volumes, the attempt to break through this resistance was repeated, but this resistance level still keeps the price in the descending purple channel. 

If buyers break through the upper limitpurple corridor, the pair will consolidate in the area of ​​the psychological mark of 200.00 USD. This may sow doubt among trading participants about the continuation of the rollback to the support of 61.8% fib (168.71 USD), which means a new intrigue will begin. 

XRP / USD

This week, the efforts of buyers who have alreadytimes, they break against resistance at the psychological level of 0.200 USD. Last night and this morning the pair again failed to break through to the average price level. 

However, we believe that today, after a pullback inarea of ​​0.195 USD, buyers will continue to try to break above the two-hour EMA55 and test the lower border of the green ascending channel. 

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