September 6th Price Analysis & Overview: BTC, ETH, XRP and TRX
Bitcoin saw a 10.6% decline in prices this week as it reached the current level of $ 10,250. The cryptocurrency started in September with a bullish tone as it managed to rise above the $ 12,000 level. However, this has changed over the past two days as Bitcoin begins to move forward. It initially received support at $ 11,150 (.382 Fib Retracement), but this level entered the trading session the day before yesterday when BTC dropped from $ 11,500 to $ 10,000. The coin closed September 3rd candlestick at $10,140. Yesterday, however, Bitcoin has been well spent below $10,000 as it has reached $ 9,875. Since then it has also gone back to trading back more than $10,200. This is Bitcoin’s lowest 5-week rate. Looking ahead, if the bulls can recover and return more than $10,430 (100-day EMA), resistance lies at $10,600, $10,750, $10,910, and $11,000. Following this, resistance is available at $11,150, and $11,300. On the other hand, if retailers break below $10,140, sponsorship is still at $10,000. For less than $10K, additional support is available at $9,815, $9,750, and $ 9,600 (200-day-EMA).
Aside from falling below the $400 level, ETH fell only 4.5% lower this past week. In the last seven days, it has managed to rise to $490 on September 1. Specifically, the coin has not been able to close the daily candle above the $476 resistance as it has begun to recede. ETH initially received support at $438. However, this support came in the day before yesterday as it went to the $382 level (below the 1.272 Fib Extension). On September 3rd, ETH had fallen below $382 support and was listed for $360 lower. However, the bulls are now trying to secure support for $375.
Looking ahead, if bulls can go above $382, resistance is at $400, $410, $420, and $440. Following this, resistance is available at $450, $463, and $475. On the other hand, initial support is expected at $ 75 (below 1.414 Fib Extension). This is followed by additional support at $365, $358, and $250. ETH performed slightly better compared to Bitcoin. In early September, Ethereum managed to rise to a level of 0.04 BTC. From there, it began to decline as the bulls tried to protect the growing trend line. Unfortunately, this trend line broke down a few days ago as Ethereum dropped to support of 0.0037 BTC. It continued below this day before yesterday as it was kicking as low as 0.036 BTC. The bulls recovered to a level of 0.0366 BTC (.5 Fib Retracement). Looking ahead, if buyers can go up and break 0.037 BTC, resistance is available at 0.0376 BTC, 0.038 BTC, 0.0385 BTC, 0.0387 BTC, and 0.0396 BTC (Feb 2019 High). Above 0.04 BTC, resistance lies at 0.0406 BTC. On the other hand, the initial support level lies in the 0.0366 BTC (.5 Fib Retracement). Following this next support is at 0.0361 BTC, 0.0367 BTC, and 0.0352 BTC.
XRP fell 8% this week to $0.247. The currency was backed at $0.264 last week, which allowed it to rise above the $0.3 level in early September. However, the slowdown in high-quality markets in Bitcoin caused it to bounce back below $0.3 immediately. September 3rd, XRP fell below the rising trend line but managed to close the candle to the 100-day EMA for about $0.245. From there, bulls have tried to replicate as they sell for just under $0.25. Looking ahead, if the bulls exceed $0.25, resistance lies at $0.256, $0.264, $ 0.27, and $0.28. On the other hand, support is expected to start at $0.245 (100-day EMA). Following this, support is at $ 0.236 (below 1.618 Fib Extension), $0.235 (200-day EMA), and 0.228 (.618 Fib Retracement). Against Bitcoin, XRP stalled from 2333 SAT last week as it began to move forward. XRP has not suffered much compared to Bitcoin in the past few days of falling prices. Consumers have been able to defend the 2400 SAT level and stay above the short-term growing line. XRP is back yesterday as it sells a 2420 SAT and is now facing opposition to the cross-cutting trend that has been in place since the beginning of August 2020. Looking ahead, if the bulls can break the trend line, the resistance lies in the 2542 SAT, 2571 SAT, and 2630 SAT. This is followed by strong resistance to 2700 SAT, 2750 SAT, and 2800 SAT. On the other hand, if vendors retreat, the initial level of support lies in the 2400 SAT. Under this, support is based on 2333 SAT (100-days EMA & .5 Fib Retracement), and 2275 SAT.
TRX moves to the other side of the market after a 40.6% increase in total this week. It is the only 15-point project to see good price movements during the week. TRX started the week with trading below the $0.025 level as it began to push further. It broke sharply above the August high by $0.032 in September and continued to reach the $0.05 level two days ago. Unfortunately, it failed to close above the $0.04 candle two days ago as it was low. Yesterday, TRX gained support at .5 Fib Retracement $ 0.0358, but the recent BTC price of less than $10,000 has dropped to the current level of $0.034. Looking ahead, if TRX is down, support is at $0.0325, $0.03, and $0.0279. Additional funding is available at $0.0251 and $0.2. On the other hand, the initial resistance level is at $0.04. On top of this, resistance is available at $0.0436, $ 0.0457, and $0.05. Against Bitcoin, TRX was also able to climb very high. The coin reached a high of 460 SAT two days ago, but was unable to close the daily candle above the 400 SAT. Torn is already down as it trades at about 330 SAT. Looking ahead, if traders break below 330 SAT, support is available at 321 SAT, 300 SAT, and 275 SAT. On the other hand, resistance is found at 350 SAT, 370 SAT, 400 SAT, and 430 SAT.