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Price Analysis of BTC, ETH, XRP, LTC, BCH: 2nd October

Bitcoin is trading at $8,259.03 as the price struggles to climb up. Strong resistance can be seen near the $8,400 level and s
Bitcoin is trading at $8,259.03 as the price struggles to climb up. Strong resistance can be seen near the $8,400 level and support at $8,100 level.

The crypto market is facing some dark days as the prices are facing trouble in maintaining a bullish trend in the charts as the price continues to test the support levels present for them. The bearish trends in the charts are facing fluctuations as the price trade between the resistance-support pairs.

While Bitcoin sees a slightly bullish trend in the charts as the price is climbing up, rest altcoins are facing a downward correction as the prices further decline downwards. The hourly charts show slight bullish trends, but the bears continue to dominate the market.

Currently, Bitcoin is trading at $8,259.03 as the price struggles to climb up. Strong resistance can be seen near the $8,400 level as the price is well supported at $8,100 level. The RSI is below 50%, which indicates that the price might decline further.

The bulls are trying hard to push the price towards the major resistance levels of $8,500, and once it is passed, we can expect the price to go further and aim for $8,800 and $9,000 resistance levels. If the price faces a strong downward correction, the price is likely to fall towards the $8,100-$8,000 support levels and further decline towards the $7,800 and $7,500.

ETH/USD

After the push in price towards the $186 resistance level, Ethereum started a downward correction in the charts as the price struggled to pass through the resistance level. The downward correction has started again in the charts as the price is going downwards.

Currently, ETH is trading at $177.18 as it faces a strong resistance near the $179 level. Immediate support can be seen, forming near $174-$173 levels as the price struggles to aim for the resistances. The price is fluctuating, forming a wave-like trend in the charts as the RSI stays above 50%.

A downward correction in the charts will take the price towards the support level of $174, and further decline will make the price test the support levels of $170 and $165. Whereas a bullish trend will take price towards the resistance levels of $185 and if that is crossed, we can expect the price to aim for $194 and $200 levels.

XRP/USD

Ripple handled the bullish push well as the price went upwards towards the $0.2620 but failed to break the resistance and the price started with a downward correction.

Currently, XRP is trading at $0.2472 as the price continues the decline. Strong resistance can be seen near $0.2520 level as the price struggles to go beyond this point. Immediate support is available at $0.2450 as the price trades close to the support levels.

If the downward correction continues, we can expect the price to decline further and test the support levels of $0.2400 and also take the price to test the support levels at $0.2350 and $0.2300. In case the bullish trend takes over, we can expect the price to break the resistance levels of $0.2520 and aim for $0.2600 and $0.2650 levels.

LTC/USD

Litecoin is struck with a bearish trend again as the price has started a decline towards the support levels. After breaking the resistance level of $55, it has managed to stay above that, but the price is facing resistance above that.

Currently, LTC is trading at $56.36 as the price continuously faces a strong resistance near $57 and gets its support levels at $55. The RSI is currently above 50% as the price tries to start another run towards the resistance level of $57. The moving averages are facing upwards as they try to move above the trade line.

If the price continues the bullish trend, we can expect the price to aim for the resistance level of $57 and a push beyond that will take the price to $60 and $64. A downward correction will make the price fall towards the resistance levels of $55, and if the fall continues, we can expect the price to test the support levels of $53 and $50.

BCH/USD

The upward correction that took place yesterday and took the price to $235 resistance level was short-lived as the price began to decline and move towards the support levels of $224-$220. However, there is a small bullish trend forming in the hourly chart of BCH as the price struggles to head towards the resistance levels.

Currently, BCH is trading at $224.42 with a strong resistance forming near the $228 levels as the price struggles to go beyond this point towards the major resistances. Immediate support can be seen, forming near $220 as the price shows slight chances of a downward correction.

If the price starts a downward correction, we can expect the price to go down to $220 and fall further towards the support levels of $215 and $210. If the bulls take over the market, we can expect the price to head towards the $235 resistance level and move towards the major resistance levels of $240 and $250.

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