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Home XRP - Top 10 XRP, Bitcoin Cash, Tezos Technical Analysis on 6th October 2020

XRP, Bitcoin Cash, Tezos Technical Analysis on 6th October 2020

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October 6th 2020

The cryptocurrency market exhibited a mild upward trend as the global market cap saw an increase of 0.14% over the last day which drove the figures to $342.45 billion. Bitcoin’s dominance currently stood at 58.11%, after an increase of 0.26% over the day.

XRP:

XRP breached its overhead resistance of $$0.251 after a surge of 3.23% over the last 24-hours. At the time of writing, the coin was priced at $0.255 with a market cap of $11.55 billion and a 24-hour trading volume of $2.26 billion.

The bears have so far failed to further tank the price of the coin. This was evidenced by the green closing bars of Awesome Oscillator which edged with the positive trend as it exhibited a bullish momentum. Chaikin Money Flow above the zero-line depicted inflow of capital into the coin market and hence a bullish phase for the coin. If the bulls gain necessary traction, XRP could see a push to its immediate level of resistance at $0.294 while its support: stood firm at $0.195.

Bitcoin Cash [BCH]:

Bitcoin Cash [BCH] rose by 0.18% over the past day which drove the coin’s price to $221.09 as it held a market cap of $4.165, billion, and a 24-hour trading volume of $404 million.

The coin was found to be trading close to its overhead resistance at $236. Klinger Oscillator as well as MACD suggested a bullish phase for BCH. If the bulls manage to push the price above the current level, the coin could jump to its subsequent level of resistance at $294.51. Additionally, BCH found support at $145.90 level.

Tezos [XTZ]:

Tezos [XTZ] was priced at $2.11 after a minor increase of 0.22% over the last 24-hours. At the time of writing, XTZ registered a market cap of $1.573 billion and a 24-hour trading volume of $96.6 million.

The coin appeared to be consolidating within a tight range after suffering a fall from its local top. Despite the fact that dotted markers of Parabolic SAR supported the coin form a further decline, XTZ was in a high sell-off zone. This was depicted by RSI which was hovering close to the oversold region depicting a significant decline in buying pressure of the coin. If the bulls fail to defend the current level, XTZ could potentially target its crucial level of support of $1.94 as its resistance stood at $2.62.

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XRP vi.be Editor

XRP vi.be Editor

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