Analysis of cryptocurrency pairs BTC/USD, ETH/USD, XRP/USD as of 04/07/2018

A retest of the upper Bollinger Bands indicates the end of the consolidation of the major cryptocurrency pairs. Resumes decline to monthly lows

BTC/USD

As expected, the consolidation at the upper border of the purple corridor of the downward trend has ended. True, according to our calculations, a re-test of the BB middle line (Band Bollinger) should have happened yesterday. After today's retest of the key level of 6800.00 USD, the price will continue to decline. 

The nature of the dynamics is not yet clear. Will the decline be as sluggish as the re-test and take place gradually, along the upper border of the corridor? Or the price will be able to break through this border, confidently falling to the next support level of 6300.00 USD, which is the lower BB band. The date when the April Fool's low, which is at 6427.00 USD, will be updated depends on this. 

ETH/USD

Ethereum tested the upper limit of the BB, which serves as a signal of the end of the correction and the resumption of the decline. We believe that today Ether will only be able to update the March minimum at around 362.00 USD. The update of the April low (358.00 USD) will largely depend on the dynamics of the BTC/USD pair.

XRP/USD

Ripple, in an attempt to test the upper limit of the BB, was unable to reach the psychological level of 50 cents per ripple. Apparently, the price has already begun to decline towards the March minimum of 0.470 USD. Next in line is April, with an indicator of $0.454 per ripple.

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