What happened in cryptocurrency market and three main currencies - bitcoin, ethereum and XRP over the last 24 hours.
Top-10 cryptocurrencies by trend as of October 3:
On Tuesday, October 2, the situation in the cryptocurrency market developed according to moderate bearish scenario. Bitcoin and ethereum fulfilled the basic goals, ripple was weaker than the rest of the market.
Initially bitcoin (Bitcoin) showed a neutral dynamic. The test of $6,467 was promptly bought out. However, the sellers appeared on the market and returned the cryptocurrency to the center of the current area. Currently bitcoin is in the range of Wednesday / Thursday and today the most probable scenario is the consolidation near the control price of $6,442 and a test of minimum marks of September, 25 minimums - $6,328.
Time-lapse: on October 3, 2017, bitcoin price decreased slightly, fixing at $4,312.
BTC chart by TradingView
Today bears will first of all attack the minimum mark of September, 25. Further test of minimum mark ($6,207) is highly possible.
Ethereum (ETH/USD) performed only part of the bearish scenario. Today we may see its further development with a test of the minimum mark of September, 29 ($212) and high-volume level of $210.
Time-lapse: on October 3, 2017, ethereum fixed at $292,18.
ETH chart by TradingView
Today we may probably see a test of Sunday’s minimum mark - $212 and further decline to $208.
XRP (XRP/USD) was weaker than the rest of the market. This situation is not surprising keeping in mind the rapid growth of the previous two weeks. At the moment the cryptocurrency is working in the current area and hopes to attract new customers through a decrease. Under such conditions XRP’s short-term decrease is quite expected: all impatient bulls have already entered the market and made a certain vacuum of demand.
Time-lapse: on October 3, 2017, XRP price stopped at $0,19.
XRP chart by TradingView
Today bears will attack the minimum marks of Tuesday and the lower border of the current area. It should be noted that for some reasons the control price of $0,485 which is located above the area, isn’t attractive for the buyers and it’s highly likely that XRP will pass it without any stops.
Aside from bitcoin, ethereum, and XRP there are several other interesting digital currencies or altcoins worth taking a closer look at. The losers and winners of the past 24 hours are: Swarm with 67,09% growth, and Ubex with 67,86% decrease. Keep an eye on cryptocurrencies, study them and use our quotes page to keep up to date.
Trading in the cryptocurrency market is associated with high risks and is not suitable for every investor. The above analysis should not be considered as a recommendation or a call to action. Each trader should assess the risks for themselves. Both the author and Ihodl.com are not liable for the potential losses incurred.