Price Analysis of BTC, ETH, XRP for May 28, 2021
Yesterday morning, the BTC price tested the 38.2% fibo level (37150.24 USD). This fibonacci level provided support to the pair and the price recovered to the level of 40000.00 USD until the evening. Trading volumes were small and buyers are not yet able to organize a bullish break to the fifty percent fibonacci level (42447.96 USD). The pair settled on its side in the area of the three-hour EMA55 with resistance around the 40000.00 USD mark. With low activity, consolidation in the sideways range will continue and gradually narrow to the moving average of EMA55.
The price of Ethereum failed to continue rising to the resistance of 3000.00 USD yesterday. Low trading volumes keep the pair in a sideways consolidation with support near the three-hour EMA55. If the bearish pressure resumes, they will break through the average price level and push the price of ether to the POC line (2318.60 USD) by the end of the week. If the moving average withstands the bearish onslaught, then buyers will be able to organize a bullish break above the psychological mark of 3000.00 USD.
Yesterday morning, the XRP price managed to gain a foothold above the red downtrend line. Due to small volumes of purchases, the bulls were unable to achieve growth and break through the resistance of the three-hour EMA55. As of this morning, the pair is beating in a sideways range just below the psychological mark of one dollar. If buyers form a bullish momentum, the pair may recover to the resistance area of 1.115 USD before the end of the week.