Bitcoin bears have continued to push the price lower for the second day in a row. The selloffs witnessed have seen the price dive from levels above $8,300 to test $8,100 (short-term) support. With the prevailing bearish trend, low volume and a low volatility, it means that upward movement will stay limited.
Ripple’s XRP took off from the Asian low of $0.2740, but the upside may be limited as the price is moving closer to a stiff resistance created by the long-term sloping trendline. At the time of writing, XRP/USD is changing hands at $0.2780, has stayed mostly unchanged both on a day-on-day basis and since the beginning of Wednesday, though the coin has six bullish days in a row, which is the longest period since May 2019.
ETH peaked at $185.30 on October 8 and retreated to $184.00 by the time of writing. The second-largest digital asset with the current market value of $19.6 has gained 2% both on a day-on-day basis and since the beginning of Wednesday. Ethereum’s average daily trading volumes dropped below $7 billion from $7.5 billion on Tuesday.
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