What happened in cryptocurrency market and three main currencies — bitcoin, ethereum and XRP over the past weekend.
Top-10 cryptocurrencies by performance as of October 15:
On Friday and during the weekend, the cryptocurrency market was neutral. This morning bitcoin broke through the upper border of the global triangle. Altcoins followed. Ethereum and XRP moved to the appropriate high-volume areas.
Bitcoin (Bitcoin) went beyond the borders of the global triangle. At the moment nothing prevents the cryptocurrency from consolidation at the current levels in the anticipation of a decision from SEC regarding bitcoin-ETFs. The primary goal for buyers is the range of $6,300 - 6,400. The support level lies at $6,920 - 7,049.
Time-lapse: on October 15, 2017, bitcoin price won over almost $500, fixing at $5,569.
BTC chart by TradingView
Today there will be no daily forecast because in process of searching for demand or supply the cryptocurrency can stop at any of the high-volume areas or continue it’s growth.
After the morning growth, the picture of ethereum (ETH/USD) hasn’t changed - the cryptocurrency returned to the consolidation area of the end of September / beginning of October, having regained its losses of last Thursday. The buyers global targets are: the resistance level at $255 and the range of $287 - 300.
Time-lapse: on October 15, 2017, ethereum followed bitcoin and grew to $327,87.
ETH chart by TradingView
Today bulls will attack the upper border of the current area and the morning peak. Under favorable conditions ethereum can test the maximum marks of September 22 and move to the control price of $259.
XRP (XRP/USD) met an obstacle - the control price of $0,526. At the moment the cryptocurrency has broken the support level of $0.47 and is being traded at the control price of the corresponding high-volume area.
Time-lapse: on October 15, 2017, XRP didn’t change, stayed near $0.25.
XRP chart by TradingView
Today bulls will try to go into the $0.47 - 0.502 interval and test the maximum mark of the morning once again.
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: Ethereum Monero with 84.7% growth and TWIST with 31.54% 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.