Cryptomarket Analysis October 10

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

Top-10 cryptocurrencies by oscillators rating as of October 10:

This morning sellers came back to the market. Bitcoin fulfilled the basic goal of the bearish scenario, ethereum turned out to be in a slightly stronger position. With XRP, bears successfully attacked the lower border of the area.

Bitcoin (Bitcoin: BITCOIN) tested the Friday’s and Sunday’s minimum marks. Today bearish scenario suggests further decline to the control price of the area ($6.442).

Time-lapse: on October 10, 2017, bitcoin price added almost $250, fixing at $4.806.

BTC chart by TradingView

As it was said, today bears are primarily interested in the control price of $6.442 and the minimum mark of October 3.

Ethereum (BITFINEX: ETH/USD.BITFINEX) received a little support from the control price of Sunday (the mark where the growth bagan from). However the efforts of buyers look unconvincing, so it’s likely to decrease to $222.

Time-lapse: on October 10, 2017, ethereum price lost $15 and stopped decreasing at $298.36.

ETH chart by TradingView

Today the bearish scenario calls for a further decline to $219 with a test of the $216 mark and the minimum marks of October 3-4.

XRP (BITFINEX: XRP/USD) entered Sunday’s range. As it was expected, this was followed by a decline. Bears launched an attack at the lower border of the area but they didn’t manage to fulfil the basic goal of the scenario (the control price of $0.459).

Time-lapse: on October 10, 2017, XRP price followed bitcoin and dropped to $0.25.

XRP chart by TradingView

Today bears will try to push the cryptocurrency to the control price of the area ($0.459) and test the minimum marks of September 25.

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: Bytecent with 278.68% growth and Cashbery Coin with 59.31% 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.