Cryptomarket Analysis October 4

What happened in cryptocurrency market and three main currencies - bitcoin, ethereum and XRP over the last 24 hours.

Top-10 cryptocurrencies by performance as of October 4:

On Wednesday October 3, the situation in the cryptocurrency market developed according to a neutral scenario, and only after the beginning of the Asian session buyers became more active. As the result bitcoin, ethereum and XRP fulfilled the main goals of their respective growth scenarios.

On Wednesday bitcoin (Bitcoin: BITCOIN) followed the neutral scenario but at night buyers entered the market and returned the cryptocurrency to the range of Sunday/Monday.

Time-lapse: on October 4, 2017, bitcoin price decreased to $4,259.

BTC chart by TradingView

Today the most important task for bulls is to develop their success because otherwise bitcoin will most likely return to the center of the current area ($6,442). Their base goal is the range of $6,646 - 6,661 and the control price of $6,718. Then we may see a test in the direction of $6,789.

Ethereum (BITFINEX: ETH/USD.BITFINEX) tested the control price of Tuesday ($226,5) but failed to stay there.

Time-lapse: on October 4, 2017, ethereum gained $1, stopping at $293,76.

ETH chart by TradingView

Today bulls need to gain in the current levels. After that we can see a further attack at the maximum marks of Monday and Sunday.

On Wednesday XRP (BITFINEX: XRP/USD) tested the lower border of the current area and on Thursday morning - the upper one. This represents a balance between supply and demand, so the most likely scenario for today is associated with returning to the center of the area and the control price of $0,528.

Time-lapse: on October 4, 2017, XRP price showed slight gains, fixed at $0,2.

XRP chart by TradingView

As it was said, today we are waiting for XRP to return to the control price of $0,528 with some fluctuation near its borders.

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: Sakura Bloom with 71,74% growth, and Globalvillage Ecosystem with 29,1% 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.