BTC, ETH and XRP Price Prediction for October 7
10/07/2024 21:15Can traders expect correction from Bitcoin (BTC), Ethereum (ETH) and XRP this week?
Original U.Today article
Can traders expect correction from Bitcoin (BTC), Ethereum (ETH) and XRP this week?
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
A new week has started positively for most of the coins, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has increased by 1.55% over the last 24 hours.
On the daily chart, the price of BTC is rising after yesterday's bullish closure. However, if today's candle closes far from its peak, the further upward move might be postponed due to a lack of buyers' energy.
Bitcoin is trading at $62,952 at press time.
ETH/USD
Ethereum (ETH) has followed the growth of BTC, rising by 1.81%.
The price of ETH has made a false breakout of the resistance of $2,499. If buyers cannot seize the initiative by the end of the day, one can expect a correction to the $2,400-$2,450 range.
Ethereum is trading at $2,470 at press time.
XRP/USD
XRP is not an exception to the rule, going up by almost 1%.
From the technical point of view, the rate of XRP is trading similarly to ETH. Its price has bounced off the resistance level of $0.5445.
Until it is below that mark, traders may witness a drop to the $0.53 zone by the end of the week.
XRP is trading at $0.5369 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].
Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox