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BTC, ETH, XRP and TRX Price Analysis for September 4

Denys Serhiichuk

Can TRON (TRX) grow against the fall of the Top 3 coins?

BTC/USD
ETH/USD
XRP/USD
TRX/USD

Price Analysis

Fri, 4/09/2020 - 14:53

Cover image via www.tradingview.com

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The bearish mood has become even more powerful as all of the Top 10 coins remain in the red zone. If yesterday Polkadot (DOT) was the only rising coin, today it is the main loser.

The main statistics for Bitcoin (BTC), Ethereum (ETH), XRP and TRON (TRX) today:

Name HOT Stories Bitcoin (BTC) Approaches $98,000 as Altcoins Lag Behind XRP 4 Days of Sleep: What's Next? Dogecoin (DOGE) Hints at Double Top Pattern Formation, Pepe (PEPE) Loses 21% in 6 Days, But There's Still Chance Binance's CZ Warns About MacBook Vulnerabilities MicroStrategy Raises Recent Convertible Notes Offer to $2.6 Billion to Buy More Bitcoin	Ticker Advertisement	Market Cap	Price	Volume (24h)	Change (24h)
Bitcoin	BTC	$193,926,843,225	$10,494.21	$32,785,920,155	-3.40%
Ethereum	ETH	$44,505,120,710	$395.73	$18,645,663,948	-4.10%
XRP	XRP	$11,645,873,993	$0.258733	$2,090,227,110	-1.89%
TRON	TRX	$2,784,379,935	$0.038856	$6,703,699,294	-1.21%

BTC/USD

Bitcoin (BTC) has continued the fall from $12,000. The decline over the last few days has been more than $2,000. The drop over the last week has been 8.55%.

On the daily chart, a bullish divergence has been formed as bulls have shown their efforts at the $10,000 mark. It is too early to consider a reversal; however, slight growth is in the offing. In this case, the local resistance is at $10,855.

Bitcoin is trading at $10,457 at press time.

ETH/USD

Ethereum (ETH) is more bearish than Bitcoin (BTC). The rate of the chief altcoin has declined by 4.10% since yesterday.

From a technical point of view, Ethereum (ETH) is trading similar to Bitcoin (BTC) as a bounce off is also the more likely price action. A further decline remains the main scenario, however, bears need more power to keep pushing the rate. All in all, $412 is a perfect mark for a false breakout.

Ethereum is trading at $397.27 at press time.

XRP/USD

The rate of XRP has decreased below Bitcoin (BTC) or Ethereum (ETH). The decline has constituted 1.89%.

On the 4H chart, XRP is also forming a reversal as part of a more profound decline. Even though a further drop is the more likely scenario, bulls might bring the rate of the third most popular crypto to $0.2656 soon.

XRP is trading at $0.2580 at press time.

TRX/USD

TRR is the main "gainer" from our list as the price of the altcoin has declined by only 1.21% over the previous 24 hours.

On the daily time frame, TRON (TRX) has not reached the local support, which means that a further decline is possible. The selling volume is still high, as well as liquidity in the range of $0.025-$0.30. If such a scenario comes true, the drop may last until the mark of $0.032.

TRX is trading at $0.036 at press time.

#Bitcoin Price Prediction #Ethereum Price Prediction #XRP Price Analysis #Tron Price Prediction

About the author

Denys Serhiichuk

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.