Cryptocurrencies price prediction: Ethereum, Ripple & Bitcoin - European Wrap - 4 October
|Ethereum market update: ETH/USD extends the downside, loses 2%
ETH/USD is range-bound with bearish bias during Friday trading. The second-largest digital coin with the current market value of $18.8 billion has lost about 2.2% on a day-on-day basis and since the beginning of the day. At the time of writing, ETH/USD is changing hands at $174.55 with no clear short-term direction.
Ripple price analysis: XRP/USD bulls hitting strongly on $0.2500 resistance
Ripple is showing prowess in a relatively bearish cryptocurrency market. As discussed earlier Ripple upside has been capped at $0.25 (short-term) resistance. Despite this, the cryptoasset is trading above the trendline resistance as well as the 50 simple moving average (SMA) on the one-hour chart currently holding ground at $0.2467.
Bitcoin (BTC) bulls must defend $8,000 for dear life
Bitcoin (BTC) has returned to the levels, registered at the beginning of the week. At the time of writing, the first digital coin is changing hands at $8,116, trading with short-term bearish bias amid decreasing volatility. However, the situation may change drastically, once BTC/USD dives under $8,000.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.