Cryptocurrency Trading In Ranges Trying To Stay Put In the MarketOctober 4, 2019
ETC is currently trading in the ranges of $175 versus the USD. The price is trading well above the support area; however, it is struggling to climb further. A major contracting triangle is being formed with support seen in the $170 area on the hourly ETH/USD chart. The price of the ETH is consolidating versus the Bitcoin, and it has to stay above $170 if it should prevent another drop happening.
Ripple might become bearish below the $0.2400 range. A connecting bullish trend line that shows support at $0.2475 showed a break at a lower point on the XRP/USD chart. If there will be a break below the support lines at $0.2420 and 0.2400, then the price will accelerate even further down. The price of Ripple is currently under pressure. If the token should start off with a new uptrend, then it should break the $0.2500 and $0.2550 points. The MACD is moving into the bullish zone, and the RSI is near the 50 levels with bearish signs. At the time of reporting, the news XRP had hit $0.25.
While the overall crypto market is struggling, Litecoin is in the green. LTC has provided its investors with modest returns of 1.8%. Bitcoin traded nearly down by 1.4% and is not able to recover after a long bearish week. The ETH and Binance coin is also down today. About $3 billion in market cap has been wiped out of the overall cryptocurrency market.
In just one month, TRON has recorded a dip of over 6%; however, Justin Sun, the founder of TRON, is increasingly focusing on improving the popularity of the platform. Increased awareness of TRON might ultimately benefit the platform. For the rest of the year, TRON is expected to trade in ranges from $0.015 and $0.0335.
EOS has registered an uptrend of 4% over the past five days. For most of this year, the coin has been trending upwards. While EOS has been trending with baby steps, the price went as high as $6. The market performance in the current scenario indicates that the coin might progress in a positive direction benefiting the investors.
There has been a lot of movement in the market; however, Stellar has trended in the 0.058 range. The current stability is indicative of an upward breakthrough for the token. The coin is currently achieving some stability. Other small-cap coins like the TCAT tokens are also trending and catching up with investor interest.