Analysis of prices BTC, ETH, XRP (31.07.20)

Analysis of prices BTC, ETH, XRP (31.07.20)

By InsanisFox | DivesEst | 31 Jul 2020


BTC/USD

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Yesterday trading volumes were gradually decreasing, and the price of bitcoin spent the whole day in a sideways range, narrowing the amplitude of fluctuations. If the activity of market participants remains at a low level today, consolidation in the narrowing side corridor will continue.

In case of an insignificant advantage of sellers, the pair will only test the two-hour EMA55, and if pressure from the bears increases, a pullback to the support of 10500.00 USD is possible.

Judging by the Stoch RSI indicator on the daily time frame, a rise in the price is less likely, but one should not exclude the possibility of a false bullish impulse, which is capable of piercing the 50% fibo level (11394.15 USD) and marking a new monthly high in the area of ​​12000.00 USD on the last day of July.


ETH/USD

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Ethereum price yesterday morning rolled back slightly below the level of 320.00 USD, and stayed in a narrow sideways range until the evening. At the end of the day, buyers were able to increase volumes, and late at night the pair renewed the July high around 342.00 USD.

Until the morning, a slight pullback could be observed, but if it stops at the level of 330.00 USD, then the growth may continue to the target bullish level of 360.00 USD.

It should be borne in mind that above the level of 350.00 USD, sellers may become more active, which will cause the price to decline to the upward green trend line.


XRP/USD

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Yesterday, buyers were trying to restore the price of Ripple to the July high zone. By the end of the day, the volume of purchases began to decline, but the pair managed to test the monthly high level of 0.250 USD.

In the Asian session, the growth failed to continue, and this morning the pair returned to the 0.242 USD mark. If support is found in this area, then there is some possibility of explosive growth to the target level of 0.280 USD.

However, given the strong overbought market, we believe that in the zone of yesterday's high, the bears may increase pressure and the price will roll back below the support of 0.230 USD.


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

 


InsanisFox
InsanisFox

Crazy gatherer


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