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BTC, ETH and XRP Price Analysis for October 2

Price Predictions
Sat, 10/02/2021 - 14:26
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Denys Serhiichuk
Can bulls get the rates of the main coins back to the previous peaks?
BTC, ETH and XRP Price Analysis for October 2
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls keep dominating the situation on the cryptocurrency market as the majority of the coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

After yesterday's rally, the rate of Bitcoin (BTC) has added 0.61% to its price share.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Analyzing the daily chart, Bitcoin (BTC) is located near the resistance at $48,465. The rise is also accompanied by an increasing trading volume, which means that bulls are ready to keep the growth going.

Related
BTC, BNB and ADA Price Analysis for September 30

If the breakout occurs and BTC fixes above the resistance, the rally may continue to the zone around $50,000.

Bitcoin is trading at $47,621 at press time.

ETH/USD

Ethreum (ETH) is the biggest gainer from the list today as the price of the chief altcoin has risen by 1.47% over the past 24 hours.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

At the moment, Ethereum (ETH) may have accumulated enough power to start a mid-term rise. The growth is supported by buying trading volume, which shows the bulls' potential to get the price higher.

Related
BTC, ETH and XRP Price Analysis for September 29

In this case, the more likely scenario is the test of the local peak around $3,700, where bears might seize the initiative.

Ethereum is trading at $3,286 at press time.

XRP/USD

XRP has gained the least from the list as the price of the coin is almost unchanged since yesterday.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Despite the slight rise, XRP has fixed above the vital level at $1.014, which confirms the bulls' efforts to continue the rise. If buyers can hold the initiative, the next level at which a potential correction may occur is the local peak at $1.24.

XRP is trading at $1.0355 at press time.

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About the author

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 denys.serhiichuk@u.today.