Analysis of prices for Bitcoin, Ethereum, XRP for 10/11/2021

BTC hit a new October high over the weekend, but growth is hindered by an overbought market.

BTC / USD

Last weekend the price of Bitcoinconsolidated in a sideways range with support in the area of ​​54000.00 USD. At the end of last week, one could observe several attempts by the bulls to break above the resistance of 78.6% fibo (55288.19 USD), but all of them ended with a rollback to the support area of ​​$54,000. 

Late Sunday night on the Bitstamp exchange,There is a sharp increase in volatility. In a short period of time, the price of BTC breaks through to a monthly high around 56500.00 USD, and then a fairly large transaction takes place at a price of 51000.00 USD. Such a low price is not a market price and is not recorded anywhere on other exchanges. 

As of this morning, the price of Bitcoin is againrecovered above the 78.6% Fibonacci level, but purchase volumes are very low. If the bulls manage to unleash the rush demand, then the re-test of the resistance at 58000.00 USD remains relevant as before. 

Chances are early this weekbears are planning big sales, and if the price spikes into the area of ​​the next monthly high, sellers may drop the price below the orange support of 53400.00 USD.

ETH / USD

Over the weekend, the price of ether gradually decreased, and tonight the pair broke through the support of 3400.00 USD, setting a local minimum at 3370.00 USD. 

In the morning, the price recovered to the area of ​​3500.00 USD and may continue to rise to the level of 3600.00 USD if there is support from a large buyer.  

In the area of ​​3550.00 USD, sellers can seize the initiative, and then the price will return to the local minimum zone. 

XRP / USD

Last Saturday, the four-hour EMA55 heldthe price of XRP declined and the pair increased in price quite well. The daily maximum was recorded around 1,200 USD. On Sunday, the October maximum was updated to the level of 1.222 USD. The final increase over the weekend was about 18%. 

In the afternoon, purchase volumes decreasedand the price rolled back below the support of 1.150 USD. There is a positional battle for market dominance in this area this morning. If buyers manage to seize the initiative, then on large volumes the growth may continue to a new monthly high in the area of ​​1.250 USD. 

Otherwise – bears will continue to decline in price towards the POC indicator line (1.073 USD).

* All prices are based on BitStamp data

Subscribe to ForkNews on Telegram