Daily Technical Analysis For Bitcoin (BTC), Ethereum, And XRP Price For Top Gains

The post Daily Technical Analysis For Bitcoin (BTC), Ethereum, And XRP Price For Top Gains appeared first on Coinpedia Fintech News

There have been major technical indicators on key trends like Bitcoin (BTC), Ethereum (ETH), and XRP price, as they navigate major market fluctuations for massive gains in price value. Meanwhile, ETFSwap (ETFS) offers investors the opportunity to trade and swap tokenized ETFs within its platform. 

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Bitcoin’s (BTC) technical analysis as of October 2024 shows an unpredictable outlook. According to CoinGecko, the price of Bitcoin (BTC) is currently $62,180, following institutional support at $60,000. However, Bitcoin (BTC) has also encountered strong resistance after retesting the $66,000 price level. In a tweet on X (formerly known as Twitter), Crypto Rover, a Bitcoin (BTC) enthusiast, predicted a bull flag for the token’s price. He emphasised that a breakout above the bull flag, or the $66,000 mark, indicates a potential rally to $120,000.

Ethereum (ETH) comes second with a price of $2,400. While Bitcoin (BTC) has signs of a potential upward momentum, Ethereum (ETH) faces a slowdown in price delivery. Technical Analysis reveals a strong support zone at the $2,300 mark but a solid resistance at the $2,700 mark. Therefore, Ethereum (ETH) is currently in a constricted consolidation range after a sharp decline in the token’s price. 

The technical analysis of the XRP price, however, reveals cautious optimism. CoinGecko reports XRP price to be trading at $0.53 between strong support at $0.5 and resistance at $0.65. While XRP price showed gains on multiple occasions, it has generally ranged in price since the start of the year. Some investors have a bullish outlook due to XRP price historical movements; other conservative traders are holding their horses on XRP price for the next bull run. 

While technical indicators toward Bitcoin (BTC), Ethereum (ETH), and XRP price remain unpredictable at the moment, other factors like fundamentals have a strong bearing on cryptocurrencies. In the meantime, investors are seeking refuge in ETFSwap’s (ETFS) native token. 

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