Analysis of prices for BTC, ETH, XRP (08.02.21)

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BTC / USD

Last weekend, the Bitcoin price overcame the resistance of 40,000.00 USD and tested the level of 41,000.00 USD, but the bears did not allow the pair to gain a foothold above forty thousand. On Sunday night, sellers rolled back the price to the two-hour EMA55, and yesterday afternoon they pierced the level of average prices and came close to the support of 37300.00 USD. Sales did not exceed the daily average and the decline stopped.

Over the past night, the pair recovered above 39000.00 USD, and if buyers could keep the price above the moving average EMA55, then during the day the pair would return to the level of 40,000.00 USD.

However, as of this morning, we see that the purchase volumes are extremely low. Most likely, in the near future the bears will continue pressing and the BTC price will break through the support of 37300.00 USD. A more powerful support level is located around 36000.00 USD. We believe it will be able to weaken the bearish onslaught and the pair will recover to the area of ​​average prices.

ETH / USD

On Saturday, the ether price tried to gain a foothold in the area of ​​1700.00 USD, but on Sunday sellers broke through the level of average prices and tested the support of 1500.00 USD. At the end of the day, the pair bounced from the local minimum to the area of ​​1620.00 USD, but the recovery above the two-hour moving average EMA55 has not yet been successful.

The level of average prices limits the recovery dynamics of Ethereum and if the selling pressure increases, then today the pair may test the support of the blue trendline. We believe that the uptrend line will stop the bearish onslaught and the pair will recover to the average price area.

XRP / USD

At the end of last week, the Ripple price could not stay in a narrow sideways channel with support at 0.430 USD. On Sunday, the bearish momentum broke through the lower end of the range and the pair tested the four-hour EMA55.

Tonight the pair was trying to gain a foothold in a narrow consolidation above this moving average and if buyers try to restore the price, the pair may return to the resistance of 0.450 USD.

If the volume of purchases cannot be increased, the price will spill below the support of EMA55 and test the level of 0.350 USD.

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