Cryptocurrencies price prediction: Bitcoin, Ethereum & Ripple - American Wrap - 07 October

FXStreet Team FXStreet

Bitcoin technical analysis: BTC/USD jumps higher but not out of danger yet

Bitcoin price is trading marginally in the red, down some 1.00% in the second half of the session.

BTC/USD bulls are making an attempt to test the upper resistance of a narrowing range-block formation.

A heavy barrier of resistance can be observed at $8500, BTC has not traded above since 25 September.

Ethereum technical analysis: Great technical breakout on decent volume

Ethereum has broken out of the channel formation on the hourly chart. The move was backed by good volume on the Coinbase exchange.

Now the 180.00 level is the resistance to beat but it has proved to be a difficult level in the past.

Right now price is resting at the value area. This is indicated by the bell curve on the left-hand side of the chart.

The relative strength indicator (RSI) has pushed to the highest level since the beginning of last month.

Ripple’s XRP price analysis: XRP/USD could fly if $0.2800-0.2900 barrier is broken down

Ripple’s XRP price in the session on Monday is trading up with decent gains of some 8%, following a surge to the upside out from a narrowing range.

XRP/USD has pushed into the highest levels that have been seen since 23 September. The momentum came after the bulls managed to escape tight limited trading conditions, where the price was capped by resistance at $0.2600.

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