Bitcoin, Ethereum, XRP price analysis on 06/01/2020

Will the market be able to continue to grow in the near future and renew the annual maximum?

BTC / USD

Last SaturdayBitcoin price found support around the 9300.00 USD mark and consolidated above the 38.2% fib level (9441.99 USD). 

On Sunday, buyers tried to continueheight. During the Asian session, purchase volumes exceeded the average level, but the BTC price was not able to reach the coveted 10,000.00 USD. On the last day of May, the pair did not manage to update the monthly maximum of 10074.00 USD, designated on May 8. During the European session, the price of Bitcoin began to decline, which stopped tonight at the support area of ​​the 38.2% fibonacci level. 

In the morning the pair recovered slightly at smallvolumes. If buyers manage to attract new forces, the growth will continue to the area of ​​9800.00 USD. This is another resistance level that separates buyers from the psychological mark of ten thousand. A breakout of this level opens up new opportunities to update the yearly high of 10500.50 USD. 

However, if the bears resume pressure today,which the price of Bitcoin experienced at the beginning of last week and breaks through the weak support of 9300.00 USD, then in the near future the pair will return to the nine thousand area. 

ETH / USD

On Saturday, the price of Ethereum was able to break through the resistance of the 100% Fibonacci level (222.98 USD) and update a two-month high in the area of ​​250.00 USD. 

Over Sunday, the price rolled back slightly below the level of 230.00 USD, but as of this morning, buyers managed to stop the decline and are trying to return the pair to the May high zone. 

The growth has not yet been supported by large volumes, but if purchase volumes increase, the pair may reach the resistance zone of $264 – $274. 

On the other hand, if the bears push through the support of the two-hour EMA55, then the pair will return to the 100% fib level (222.98 USD). 

XRP / USD

Over the weekend, the price of Ripple broke through the psychologicalthe level of 0.200 USD and continued to grow above the resistance of 0.208 USD. Yesterday afternoon the pair tested the level of 0.213 USD, which turned the price into a rollback to the support of 0.200 USD. 

Tonight the price rebounded from this psychological support level to the area around 0.205 USD. If the recovery continues, the pair will try to consolidate at the level of 0.213 USD. 

If the bears strengthen yesterday's pressure, then in the near future the price may fall below the POC line (0.197 USD).

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