Analysis of cryptocurrencies BTC, ETH, XRP for May 3, 2021
Last Saturday, cryptocurrency Bitcoin consolidated in a narrow sideways corridor, taking advantage of weak support at the level of 57000.00 USD. On Sunday, sellers tried to push the price even lower, but the bears were not able to test the mark of 56000.00 USD. This morning, the pair BTC/USD returned to the previous level of 58000.00 USD, and at the beginning of this week, Bitcoin may continue to recover to the psychological mark of 60000.00 USD.
At the end of last week, the price of cryptocurrency Ethereum was fixed at the top of the ascending channel, and at the beginning of this week, the bulls continued their run to the psychological mark of 3000.00 USD. This morning, the price of ETH tested the upper trend line and set an absolute maximum around the level of 3087.00 USD. The growth takes place on declining volumes, so in the near future a pullback to the middle line of the ascending channel is possible, which has repeatedly stopped the weak efforts of the bears to roll back the price to the area of average prices.
At the end of last week, cryptocurrency XRP was stuck in a sideways range with support at 1.540 USD. Last night, buyers had a weak attempt to break out of the side corridor, but the growth was not supported by large volumes and the pair returned to the support of 1.540 USD. At the beginning of this week, attempts to test the resistance of 1.700 USD may be repeated, but soon the pair will roll back below the support of 1.500 USD.