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

Price Predictions
Fri, 09/04/2020 - 14:53
Denys Serhiichuk
Can TRON (TRX) grow against the fall of the Top 3 coins?
BTC, ETH, XRP and TRX Price Analysis for September 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.

Contents

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.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

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

Name

Ticker

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%.

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

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.

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

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%.

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

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.

TRX/USD chart by TradingView
TRX/USD chart by TradingView

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.

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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.