What happened in cryptocurrency market and three main currencies — bitcoin, ethereum and XRP over the past 24 hours.
Top-10 cryptocurrencies by market capitalization as of October 9:
Previous day was marked by the lack of unified consensus in the cryptocurrency market. Bitcoin and ethereum fulfilled the basic goals of the bullish scenarios but XRP preferred a neutral one.
Bitcoin (Bitcoin) has tested Saturday's maximum mark and stuck in a high-volume area with a control price of $6.718. It’s curious that the control price of Tuesday coincides with the low volume level of $6.661 - a satellite of $6.646.
Time-lapse: on October 9, 2017, bitcoin price almost didn’t changed and stopped at $4.593.
BTC chart by TradingView
Bitcoin managed to take a hold in the $6.646 - 6.789 area. Now the basic task for bulls is to attack at the upper border of the area and the $6.828 - 6.840 range. Then the upper border of the triangle will come into play.
Ethereum (ETH/USD) consolidated above $228 - this is the level that today will separate the bearish and bullish scenarios. So the situation can change at any minute.
Time-lapse: on October 9, 2017, ethereum price lost a little and fixed at $306,14.
ETH chart by TradingView
Today bulls are interested in testing the upper border of the $238 area and the maximum marks of September 29-30.
XRP (XRP/USD) adhered to the neutral scenario. The local volume profile shows two areas where their centers are the control prices of Sunday and Monday. In fact, they divide the bearish and bullish scenarios. If the cryptocurrency returns to the control price of Monday, an attack at the upper border of the area and further growth is likely. Conversely, if XRP falls to the control price of Sunday, further decline is likely to follow.
Time-lapse: on October 9, 2017, XRP price increased to $0.29.
XRP chart by TradingView
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: SHADE Token (yesterday’s loser) with 599.75% growth and Yocoin with 40.19% 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.