Cryptomarket Analysis October 12

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 12:

On Thursday the situation in the cryptocurrency market developed according to a moderately bearish scenario. Ethereum was weaker than bitcoin and tried to test the lower border ($186) of the area. XRP was moved by buyers to the $0,423 - 0,470 range.

Bitcoin (Bitcoin: BITCOIN) launched several attacks at the lower border of the area ($6,207) but they were unsuccessful. Today a return to the center of the current area is the most probable scenario.

Time-lapse: on October 12, 2017, bitcoin price continued growth, stopping at $5,185.

BTC chart by TradingView

Today we may expect some fluctuations within the $6,285 - 6,365 area.

Ethereum (BITFINEX: ETH/USD.BITFINEX) continues to stay at the level of Thursday morning, the main scenarios remain the same but their probabilities have now changed. After the downtest and the buy back bullish scenario seems to be the most promising.

Time-lapse: on October 12, 2017, ethereum grew up to $306.9.

ETH chart by TradingView

Today bulls will try to return the cryptocurrency in the center of the area. The basic goal is the $210 - 212 area and the global goal for upcoming weekend will be a return to the $219.

Today XRP (BITFINEX: XRP/USD) looks stronger than the rest of cryptocurrencies, while remaining within the descending channel which indicates gradual sales.

Time-lapse: on October 12, 2017, XRP lost in price, stopping at $0.25.

XRP chart by TradingView

Today bulls will try to return to the center of the area ($0.459) and test its upper border which was the level of at which sales initially began.

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: Hurify with 101.9% growth and Bytecent with 77.9% 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.