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BTC, ETH and XRP Price Analysis for September 4

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Sat, 4/09/2021 - 15:04
BTC, ETH and XRP Price Analysis for September 4
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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The weekend has begun with the ongoing growth of the cryptocurrency; however, not all coins could follow the rise. The recent gainer, Cardano (ADA), has declined by 1.22%.

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Top coins by CoinMarketCap

BTC/USD

After a sharp rise, the rate of Bitcoin (BTC) has declined by almost 1% over the last 24 hours.

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BTC/USD chart by TradingView

On the daily chart, the chief crypto made a false breakout of the recently formed level at $50,562. However, bulls are not giving up and are trying to fix above it.

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If they manage to do it, there is a high chance of getting to the next vital level at $53,500 where bears can again seize the initiative.

Bitcoin is trading at $50,279 at press time.

ETH/USD

Ethereum (ETH) is the biggest loser from the list today as its price dropped by 1.19% since yesterday.

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ETH/USD chart by TradingView

Ethereum (ETH) tested the vital $4,000 mark; however, it could not fix above the mark. Even though bulls keep dominating over bears, a slight decline may occur to gain more liquidity for a further rise. In this case, sideways trading in a range between $3,800 and $3,900 is the more likely price action for the upcoming days.

Ethereum is trading at $3,908 at press time.

XRP/USD

XRP also could not keep the rise and has gone down by 0.60%.

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XRP/USD chart by TradingView

Despite the decline, XRP is getting closer to the top of the channel against the increasing trading volume. If bulls can break the resistance and fix above it, the next level of $1.50 can be attained within the next few days.

XRP is trading at $1.27 at press time.

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