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BTC, ETH and XRP Price Analysis for September 1

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Tue, 1/09/2020 - 14:09
BTC, ETH and XRP Price Analysis for September 1
Cover image via www.tradingview.com

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September has begun with the ongoing growth of most of the cryptocurrencies. Chainlink (LINK) remains the only coin from the Top 10 list located in the red area.

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Top 10 coins by Coinstats

The key data of Bitcoin (BTC), Ethereum (ETH) and XRP today:

Name

Ticker

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Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$220,147,925,249 $11,914.86 $27,422,645,256 1.46%

Ethereum

ETH

$52,863,232,844 $470.22 $17,594,220,472 7.51%

XRP

XRP

$13,074,481,178 $0.290577 $1,504,616,919 3%

BTC/USD

Yesterday, buyers achieved a retest of the POC line ($11,740). The daily high is set at $11,780. At night, one could observe the reaction of the bears, which tried to return the pair below the two-hour EMA55. The local minimum is marked around $11,515.

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BTC/USD chart by TradingView

If the bears continue to push this morning, the pair will test the 50% Fibo level ($11,394). If buyers take advantage of the support of the average price level, then the next daily maximum is possible in the resistance area of $12,000.

Bitcoin is trading at $11,901 at press time.

ETH/USD

Yesterday afternoon, the Ethereum (ETH) price continued to recover and tested the August high zone, but it was not possible to update the record summer price.

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ETH/USD chart by TradingView

At night, sellers returned the pair to the level of $430. If the selling pressure ends at this point, then on the first of September the price of Ethereum (ETH) may update the annual maximum to $480. With a strong bullish impulse, the price may break the psychological level of $500.

Ethereum is trading at $470.58 at press time.

XRP/USD

Yesterday, market participants were unable to significantly increase trading volume, and the price was in a narrow consolidation at the level of $0.280.

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The bears' efforts were limited to the two-hour EMA55, which the sellers managed to pierce, but in the morning the pair is still holding above the average price level.

Article image
XRP/USD chart by TradingView

The market may contribute to continued consolidation in the sideways range. If a positive mood prevails in the market today, then the XRP price recovery will reach the POC line ($0.294).

XRP is trading at $0.2899 at press time.

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