Price analysis of Bitcoin, Ethereum, Ripple on 12/09/2020

Yesterday, bearish momentum pushed the market out of a sideways narrowing range. Will buyers be able to recover to the average price area?

BTC/USD

Yesterday, in the first half of the day, the price of Bitcoin once again hit the upper limit of the orange triangle and began to roll back below the average price level. The pullback turned out to be quite deep and broke through the lower border of the triangle, as a result of which the pair fell out of the narrowing orange range. 

Tonight the price of BTC tested the level of 18000.00 USD. If in the morning buyers are unable to restore the price to the hourly EMA55 area, then the decline will continue to support 17600.00 USD. 

ETH/USD

Yesterday morning, the price of Ethereum was unable to overcome the upper border of the purple triangle, which turned the pair downward. In the area of ​​the lower border, the pressure from the bears intensified, and the price of ether exited the narrowing sideways corridor. 

Until the end of the day, the pair tested the nearest support level of 560.00 USD, and at night the decline continued to another weak level of 540.00 USD. 

If today buyers do not take emergency measures to save the price from a deep peak, then sellers will test the green trend line before the end of the day. 

XRP/USD

Yesterday, the lower boundary of the sideways range steadfastly restrained sellers’ attempts to knock the pair out of the sideways pattern. Late in the evening, the bears intensified their pressure and broke through this purple trend support, pushing the price back to the 0.550 USD level. 

This morning, buyers will attempt to restore the pair to the area of ​​average prices, but if the lower border of the purple triangle acts as resistance, then the decline will continue below the psychological level of 0.500 USD until the second half of this week. 

* All price values ​​are based on data from the BitStamp exchange