BTC, ETH, XRP, LTC and BCH Price Analysis for September 6

Price Predictions
Sun, 09/06/2020 - 14:16
Denys Serhiichuk
Can Bitcoin (BTC) recover faster than the other Top 10 assets?
BTC, ETH, XRP, LTC and BCH Price Analysis for September 6
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

On the last day of the week, the market remains bearish as the majority of the Top 10 coins are in the red zone. Binance Coin is the only crypto that is green, rising by 9.74%.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The main data of Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC) and Bitcoin Cash (BCH) today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$189,229,937,831 $10,239.15 $49,901,577,782 -0.96%

Ethereum

ETH

$39,090,211,958 $347.51 $36,061,057,301 -6.04%

XRP

XRP

$10,804,925,313 $0.240049 $2,304,110,654 -3.69%

Litecoin

LTC

$3,161,912,031 $48.35 $2,832,324,749 -0.57%

Bitcoin Cash

BCH

$4,252,085,233 $229.72 $3,430,509,576 2.04%

BTC/USD

The passing week has been bearish for Bitcoin (BTC). The rate of the chief cryptocurrency has declined by 12% over the last 7 days, however, it is almost unchanged since yesterday.

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

On the 4H chart, Bitcoin (BTC) may have completed its fall and be about to make a reversal. Although it is early to consider a continued bull run, a slight correction may occur.

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

The low selling volume, as well as the liquidity, also consider the high possibility of upcoming growth. To summarize, the local resistance is located around $10,550.

Bitcoin is trading at $10,226 at press time.

ETH/USD

Ethereum (ETH) is the top loser from our list. The rate of the leading altcoin has gone down by 6% over the previous 24 hours.

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

Ethereum (ETH) is also more bullish than bearish on the daily chart. The Relative Strength Index indicator is forming a bullish divergence, which considers the short-term rise of the altcoin. In this case, the main target of the slight rise is $372.

Ethereum is trading at $350.04 at press time.

XRP/USD

XRP has also faced a deep correction. The price drop was not as profound as in the case of Ethereum (ETH); however, the third most popular crypto has lost 13% over the last week.

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

XRP is neither bullish nor bearish on the 4H time frame. The lines of the Bollinger Bands indicator are going down; however, the high buying trading volume means that bulls may seize the initiative in the short-term perspective. In this regard, the coin may locate in the area of $0.24-$0.25 until mid-September.

XRP is trading at $0.2388 at press time.

LTC/USD

The rate of Litecoin (LTC) is unchanged since yesterday. However, the price change over the last week has been -18.56%.

LTC/USD chart by TradingView
LTC/USD chart by TradingView

On the weekly chart, the "digital silver" has confirmed the upcoming bearish mood as buyers could not get to the crucial $70 level. The lines of the MACD indicator are about to change to red, which confirms the presence of sellers. However, Litecoin (LTC) may make a retest of the $54 mark followed by a further decline.

Litecoin is trading at $48.53 at press time.

BCH/USD

Bitcoin Cash (BCH) has recovered the fastest among the Top 10 coins. However, in terms of weekly analysis, the decline has constituted 15.70%.

BCH/USD chart by TradingView
BCH/USD chart by TradingView

On the daily chart, Bitcoin Cash (BCH) has already made a reversal, having confirmed the short-term rise potential. The high liquidity level above the current prices supports the ongoing correction. If bulls keep pushing the rate higher, local resistance at $246 may be reached shortly.

Bitcoin Cash is trading at $232.13 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.