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BTC, ETH and XRP Price Analysis for October 12

Are the top coins likely to face a rollback soon?

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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 CryptoComes. 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.

The cryptocurrency market was neither bullish nor bearish on the last day of the week. Litecoin (LTC) is the top gainer from the Top 10 list, going up by 2.55% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The key data for Bitcoin (BTC), Ethereum (ETH) and XRP:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$209,702,837,839 $11,326.26 $21,475,007,387 -0.2%

Ethereum

ETH

$41,997,014,769 $371.75 $13,112,491,453 -0.35%

XRP

XRP

$11,374,073,148 $0.251848 $1,919,794,917 -1.81%

BTC/USD

Bitcoin (BTC) keeps locating in the green zone over the last day. The passing week has been positive for the main crypto as its rate has increased by 7.31%.

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

Bitcoin (BTC) has almost returned to the resistance level at $11,570. Bulls are unlikely to break it for the first time; thus, traders may expect a false breakout of that zone. If that happens, there is a high chance of seeing the leading crypto below $10,000 in the near term. Thus, the low liquidity level supports the upcoming drop.

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Bitcoin is trading at $11,370 at press time.

ETH/USD

Ethereum (ETH) is an even greater gainer than Bitcoin (BTC). The rate of the chief altcoin has risen by almost 8% over the previous 7 days.

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

On the daily time frame, Ethereum (ETH) still has room for growth. The lines of the Bollinger Bands indicator are going up, confirming the upward movement.

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In this case, the resistance at $400 can be considered the last local mark reached by bulls. After that, bears are likely to seize the initiative.

Ethereum is trading at $374.17 at press time.

XRP/USD

XRP is the top gainer today as the price of the altcoin has gone up by more than 1%, while the price change over the last week has made up +10.1%.

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

XRP is trading similarly to Ethereum (ETH) as it has a high chance to keep growing from the current levels. However, it is unlikely to set new peaks as the buying trading volume is declining. All in all, a rise is possible to the resistance at $0.2688, followed by the upcoming correction.

XRP is trading at $0.2571 at press time.

 

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