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BTC, ETH and XRP Price Analysis for October 2

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Sat, 2/10/2021 - 14:26
BTC, ETH and XRP Price Analysis for October 2
Cover image via www.tradingview.com

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

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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.

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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.

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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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