Bitcoin Ethereum, Ripple Crypto Markets Update

Bitcoin Ethereum, Ripple Crypto Markets Update
  • After a 7.6% surge to $20,500, the price of bitcoin is now confronted with a two-fold resistance zone. BitcoinEthereum, and Ripple Green crypto markets need confirmation.
  • The cost of Ethereum keeps oscillating between $1,423 and $1,282 in a somewhat stable range.
  • The price of Ripple achieved a greater low at $0.437, and it is currently looking to retest the barrier located between $0.561 and $0.596.

After several weeks of unpredictable movement, the price of bitcoin has finally begun its first climb in the month of October, and investors are overjoyed to welcome this development. Ethereum and Ripple have triggered run-ups of their own as a show of support for the price gain of Bitcoin. Both cryptocurrencies are currently aiming to prolong their rallies as a result of this backing.

The price of bitcoin is weighing its alternatives as it prepares to take the next step

At the moment, the price of bitcoin is moving in the opposite direction of the downward trend line that has been connecting the swing highs since May 31. As a consequence of this, a pinnacle at the level of $20,500 was built. The Relative Strength Index (RSI), which has also moved closer to reaching a resistance level, is the second component that led to the development of this top. RSI has also moved closer to reaching a resistance level.

Before commencing the next leg up for BTC, which might catapult it to a major obstacle at $20,737, investors should be prepared for a minor retracement to $19,800. This retracement should be considered a buying opportunity. It is anticipated that this retracement will take place in the not-too-distant future. If the attempt to break past the barrier is successful, the price of bitcoin may try to retest the level of resistance that is located at $22,048.


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