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BTC, XRP and ETC Price Analysis for September 7

Wed, 09/07/2022 - 12:46
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Denys Serhiichuk
How fast can main coins come back to bullish trend?
BTC, XRP and ETC Price Analysis for September 7
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.

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Bulls could not keep the rise for long as the coins are again in the red area.

Top coins by CoinMarketCa

BTC/USD

Bitcoin (BTC) could not resist bears' pressure, falling by 5.87% over the last 24 hours.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has broken the support level at $19,526 against the increased volume. Thus, the price has also gone below the vital $19,000 mark, which means that the trend is again bearish.

Related
BTC, ETH and XRP Price Analysis for September 5

If buyers want to seize the initiative, they should return the rate above the nearest level at $18,905. Only in this case, there are chances for a local bounceback.

Bitcoin is trading at $18,734 at press time.

XRP/USD

XRP has lost less than Bitcoin (BTC) as it has dropped by 3.72%.

XRP/USD chart by TradingView

Despite the fall, XRP remains trading above the support level of $0.3119 on the daily chart. If buyers can hold the local rise until the end of the day, one can expect the test of the resistance zone around $0.33 shortly.

XRP is trading at $0.3229 at press time.

ETC/USD

Ethereum Classic (ETC) is the biggest loser from the list today as its fall has constituted 15.72%.

ETC/USD chart by TradingView

Ethereum Classic (ETC) has bounced off the accumulation it has been at since the end of August. Currently, one needs to pay close attention to the support level at $30.52. If the decline continues to it, bulls can lose their dominance, followed by the start of a bearish trend. However, if the rise lasts to the $38 mark, buyers might seize the initiative.

Ethereum Classic is trading at $33.95 at press time.

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