Analysis of the cryptocurrency pair BTC/USD, ETH/USD, XRP/USD as of January 31, 2018

For the three main cryptocurrency pairs, which are among the top three by capitalization, bearish sentiment dominated yesterday. Today the decline will continue

BTC/USD

On January 30, the price of Bitcoin broke through the lower border of the triangle and currently has set a minimum at 9,514.00 USD. The relative strength indicator RSI has left the neutral zone, but has not yet reached the oversold zone, therefore the price decline will continue today. We can assume that the likely support level for the BTC/USD price is the 78.6% fibonacci level (8,636.00 USD). In the price area of 8900.00 USD - 8500.00 USD Bitcoin will slow down its fall and try to consolidate in this range.

ETH/USD

Yesterday, Ethereum made a second attempt to overcome the resistance level at 12 100.00 USD, but as a result the price was unable to break through this level and throughout the entire trading day it declined in the blue Fibonacci range. In the afternoon, the ETH/USD pair broke through the support level of 61.8% fib (1100.00 USD) and on January 31st already managed to set a minimum at 1010.00 USD. Judging by the RSI indicator, which is at 40%, the price will continue to fall towards the target mark, which is under the psychological value of a thousand dollars, approximately in the area of ​​900.00 USD per ether. 

XRP/USD

Ripple, yesterday, naturally decreased and today, at the beginning of the day it set a minimum value of 1 dollar per ripple. In the future, after a slight consolidation, the decline will continue to the area of ​​ninety cents per coin.