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Analysis of prices BTC, ETH, XRP (23.02.21)


BTC / USD

Yesterday in the morning, the Bitcoin price rolled back to the support of the two-hour EMA55 (around 54000.00 USD). During the day, the pressure of the bears increased. They pushed the moving average and pulled the pair back to the uptrend line (52500.00 USD).

Another bearish impulse knocked the pair out of the ascending channel and tested the support at 48000.00 USD, setting a local minimum at 47400.00 USD. The BTC price bounced above the blue trend line, but the pair could not hold out in the upward channel until the morning.

Today the price is trying to gain a foothold in the area of ​​52500.00 USD, but if the bearish pressure intensifies, the price will return to the zone of yesterday’s low. Support of 48000.00 USD will be able to stop the decline and reverse the pair to recover.

ETH / USD

The onslaught of sellers intensified yesterday morning, and during the day they pulled back the pair below the support of 1800.00 USD. In the afternoon, the ether price pierced the blue trend line, setting a minimum around 1540.00 USD. Before the end of the day, the price bounced into an ascending channel, but it has not yet been able to gain a foothold in it.

As of this morning, the volume of sales has decreased, but even at low trading volumes, the pair may return to support around 1500.00 USD. We believe that this level will stop the decline and allow the pair to consolidate sideways.

XRP / USD

Yesterday morning, strong bullish momentum tried to restore the XRP / USD pair to an upward channel. The price broke through the resistance of 0.600 USD and set a new February high at 0.649 USD.

Nevertheless, the price could not hold above the uptrend line and returned to the area of ​​average prices in the afternoon. It seemed that the four-hour moving average EMA55 would be able to stabilize the increased volatility, but the trading was quite active, at large volumes, and price fluctuations in a wide range continued until the end of the day.

Volumes decreased overnight, and XRP price consolidated around the 0.540 USD mark. This morning, the decline may continue to the psychological support of 0.500 USD.

* All prices are based on BitStamp data

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