BTC, ETH, and XRP Price Analysis for October 4
Bulls have seized the initiative in the morning; however, it could not hold and all of the top 10 coins are again in the red zone.
Last Saturday, the POC line managed to keep the Bitcoin (BTC) price from falling deeply and acted as a support level while the pair tried to consolidate at the $47,745 level.
Only on Sunday evening did buyers decide to pull the price out of the narrow sideways range and test the level of $49,200. The October high is marked at $49,225. Sellers reacted to this with tough pressure and quickly returned the pair to a sideways range, to the $47,745 level.
Today, an attempt to test the psychological level of $50,000 may be repeated, but how significant the bears' reaction may be is not yet clear. One considers that, as a result, the price can roll back to the support of $46,000.
Bitcoin is trading at $47,592 at press time.
On Saturday, the Ethereum (ETH) price continued to recover and, in the evening, the pair broke above the resistance of $3,400. On Sunday night, sellers restrained the price growth at $3,470. In the morning, they managed to push the pair back below $3,400.
However, on Sunday, the bulls were able to continue their advance, and by the end of the week, they set the October high at $3,491. The volume of purchases decreased tonight, and the price returned below the level of $3,400.
On the daily time frame, the Stoch RSI indicator lines have entered the overbought zone and a decline is expected soon. It is not yet clear whether buyers will have time to fight for the level of $3,500. But at the beginning of this week, the price can roll back to the support of $3,200.
Ethereum is trading at $3,299 at press time.
Last Saturday, sellers were unable to test the $1 level and, by the end of the day, the XRP price recovered to a new October high at $1.073. On Sunday, the monthly maximum was updated to the level of $1.089, but it did not work to test the resistance of $1.10.
The bearish pressure increased tonight and the pair returned below the $1.030 level. During the day, a rollback to the psychological level of one dollar is possible. If bearish pressure intensifies, the pair may break through the average price level and return to the support of $0.950.
XRP is trading at $1.02 at press time.Source