BTC, ETH, and XRP Price Analysis for September 29
Bulls have managed to seize the initiative today as the majority of the top 10 coins are in the green zone. Cardano (ADA) is the only loser from the list, trading in the red zone.
Yesterday morning, the Bitcoin (BTC) price was unable to gain a foothold in the consolidation at the $42,447 level and, by the end of the day, it rolled back to the zone of last week's low ($40,800).
Buyers tried to restore the pair tonight, but the recovery took place without the participation of a large buyer. In the morning, it slowed down significantly.
One assumes that by the end of the day the bears may strengthen their presence in the market, and the price of BTC can roll back to the psychological support of $40,000.
Bitcoin is trading at $42,242 at press time.
Sellers pushed the price of Ethereum (ETH) out of the $3,000 area yesterday morning but, during the day, there was a clear support level around the $2,890 mark. To break it, bears had to increase volume and form a rather strong impulse, as a result of which the pair rolled back to the support of $2,800.
Today, the pair may recover to the three-hour EMA55 area; however, the recovery to the $3,000 area may prompt a response from sellers in the form of an increase in sales. Such bearish momentum is capable of breaking through the strong support of $2,800 and pulling the pair back to the September low ($2,650).
Ethereum is trading at $2,927 at press time.
Most of the day yesterday, XRP did not drop below $0.92. In the evening, sellers managed to break through this weak support level and, at night, the pair dropped to last week's low ($0.88).
As of this morning, the price has recovered above the level of 0.900 USD and, during the day, it may continue to rise to the area of average prices. However, the price may not be able to stay in the area of the three-hour moving average EMA55 and can soon continue to decline to the support of $0.80.
XRP is trading at $0.9262 at press time.Source