Analysis of prices for BTC, ETH, XRP (07.07.21)

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BTC/USD

Yesterday, buyers continued their attempts to restore the pair to the blue channel, and during the day the BTC price was able to test the upper border of the sideways range (35,000.00 USD).

However, the volume of purchases has not yet exceeded the average level, so for the second week the pair is consolidating sideways, within the narrowing orange range. Bitcoin price fell out of the blue channel again tonight, but in the afternoon it will be able to test its upper border again.

In the second half of this week, a false bullish breakout to the 38.2% Fibo level (37150.24 USD) is possible. We believe that this level is capable of bringing the pair back to the support of 32500.00 USD.

ETH / USD

Yesterday morning, on small volumes, the Ethereum price was able to gain a foothold above the hourly EMA55. In the afternoon, buyers managed to test the level of 2340.00 USD.

You should pay attention to the orange dotted support line, which keeps the pair from a deep pullback for the second week. If in the second half of the week the bears push it, then the price will drop below the psychological level of 2000.00 USD.

XRP/USD

Ripple trading volumes were low yesterday and the price continued to consolidate around the hourly EMA55. In the evening, there was a slight increase in volumes, but it did not affect the low volatility of the pair in any way.

Price consolidation will end soon. Our forecast for the pair to decline to the support of 0.600 USD remains, as before, relevant.

* All prices are based on BitStamp data

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