Bitcoin, Ethereum, XRP price analysis on 05/20/2020

Bitcoin price retains the opportunity to continue growing and renew recent highs.

BTC / USD

Yesterday morningthe two-hour EMA55 served as support for buyers, from which they made another attempt to gain a foothold above the psychological level of 10000.00 USD. 

Purchase volumes were slightly above average,but this was not sufficient to test the target resistance. At the end of the day, volumes decreased, and the pair again rolled back to the average price level. 

Today, buyers will continue to try to upgradeannual maximum in the area of ​​10600.00 USD. The nearest support levels will continue to be the moving average EMA55 and 38.2% fibo (9441.98 USD). 

ETH / USD
 

Yesterday the price of Ethereum spent in a narrow sidewaysrange, with support around 209.00 USD. By the end of the day, trading volumes fell below average and the consolidation range narrowed slightly. 

Now buyers still have a chance of breaking through the 100% Fibonacci level and updating the recent high set at the end of April around 228.00 USD. 

If the bears push the price of ether out of the narrowing range, then the immediate support will be the psychological level of 200.00 USD. 

XRP / USD

Ripple price all day yesterdaystruggled with the descending purple trend line. Buyers managed to break through the upper border of the purple channel, but sellers rolled the price back below the average level. 

Until this morning, the two-hour EMA55 continues to keep the price in a narrow consolidation. Today it is possible to exit the descending purple corridor and re-test the resistance at 0.213 USD. 

If consolidation continues, the nearest support will expand the border of the side corridor to the level of 0.200 USD. 

 

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