BTC, ETH and XRP Price Analysis for October 6

Price Analysis
Thu, 10/06/2022 - 17:02
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The bulls could come back to the game even though the day has started on a bearish note.

BTC/USD

The price of Bitcoin (BTC) has risen by 0.82% since yesterday.

Bitcoin (BTC) has once again bounced off the resistance level at $20,415. This mark is crucial for bulls as its breakout might generate a mid-term rise to the $21,000 mark.

Bitcoin is trading at $20,029 at press time.

ETH/USD

Ethereum (ETH) is the biggest gainer from the list today, as the rate has risen by almost 3%.

Despite the rise, Ethereum (ETH) is far away from the resistance which means that the main altcoin needs more time to get more for the further move.

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In this case, the more likely scenario is the range of $1,350-$1,400.

Ethereum is trading at $1,365 at press time.

XRP/USD

XRP is showing the same rise as Ethereum (ETH) according to the CoinMarketCap data.

At the moment, the $0.50 mark plays a huge role for XRP as its breakout can lead to a sharp rise to the nearest resistance level at $0.51967. Thus, the coin has accumulated enough power for such a move.

XRP is trading at $0.4971 at press time.