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BTC, ETH and XRP Price Analysis for October 4

Price Predictions
Mon, 10/04/2021 - 15:39
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Denys Serhiichuk
Which top crypto can restore its lost positions before the other coins?
BTC, ETH and XRP Price Analysis for October 4
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 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.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

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.

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

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.

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BTC, BNB and ADA Price Analysis for September 30

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.

ETH/USD

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.

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

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.

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Cardano (ADA) Price Analysis for October 1

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.

XRP/USD

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.

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

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.

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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.