Analysis of prices BTC, ETH, XRP (06.08.20)

Analysis of prices BTC, ETH, XRP (06.08.20)

By InsanisFox | DivesEst | 6 Aug 2020


BTC/USD

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Yesterday, buyers resumed attempts to recover the BTC price and broke through the 50% Fibo resistance (11394.15 USD). During the day, growth was supported by above-average volumes, but late at night, volumes began to decline and growth stopped around 11,800.00 USD.

In the morning the price pulled back and is currently holding in the area of ​​11,650.00 USD. We believe that the pullback is not over yet and the pair may find weak support at 11500.00 USD or reach the 50% Fibonacci level.

If one of these levels stops the decline, then in the near future the growth will continue to a new annual high, and the bitcoin price will test the 12,300.00 USD mark.


ETH/USD

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Yesterday, buyers tried to cross the $ 400 mark. At the end of the day, when trading volumes decreased, the Ethereum price surpassed the 400.00 USD mark and marked the daily high at 407.70 USD.

At night, the pair failed to gain a foothold above the psychological level of 400.00 USD and rolled back to the area of ​​395.00 USD. We believe that sellers will not be able to break through the support of the two-hour EMA55 today and the ETH price will continue to rise to the area of ​​the new annual high of 420.00 USD.


XRP/USD

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Yesterday, buyers tried to restore the Ripple price, but until the end of the day, the pair was unable to test the 0.310 USD level. At night, sellers pushed the price back to the 2-hour moving average EMA55.

The level of average prices is still coping with support and limiting the bears' efforts, but if the pressure intensifies, a pullback to the support of 0.280 USD is possible.

The pair is currently balancing at the psychological level of 0.300 USD. If buyers can continue to grow, then in the near future, the price of XRP will update the annual maximum in the area of ​​0.350 USD.


  • The given material for orientation objectives!
  • I shall forgive for my English - I use the translator!)

 


InsanisFox
InsanisFox

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