Cryptocurrency Market October 1st by cryptonew: Bitcoin price remains stable above the USD 42,500 support. BTC started another spike above $ 43,200. At 04:24 UTC, BTC is trading above $ 43,500 but is still facing a major hurdle near $ 44,400.
Similarly, most of the major altcoins trade below the major hurdles. ETH is back above $ 3,000, but the bears could stay active near $ 3,050 and $ 3,150. XRP is trading in a range below the USD 1.0 resistance. ADA is stuck between $ 2.00 and $ 2.20.
After a bearish correction, Bitcoin price found support above $ 42,500. BTC started another spike in a range, climbing above $ 43,500. The immediate hurdle is near the $ 44,000 mark. The next major resistance is near the $ 44,400 level, above which a rally to $ 45,500 or even $ 46,200 is possible.
On the flip side, instant support is at $ 42,500. The main area of support remains near the $ 40,800 mark, which is where the bulls may take a stand.
Ethereum price supported near $ 2,950 and rebounded higher. ETH is currently facing resistance near USD 3,050. Key resistance remains near the $ 3,120 and $ 3,150 levels. A close above $ 3,150 could trigger a stronger rally in the short term.
If it falls again, the initial support is at $ 2,950. The first major support is currently forming near the $ 2,840 mark.
Cardano (ADA) is stuck below the $ 2.12 pivot level. The key resistance remains near $ 2.20 above which the price could rise. On the other hand, $ 2.02 is a major support. The main breakout support is at $ 2.00 below which the bears can control.
Litecoin (LTC) accelerates above the $ 150 mark. However, it will have to break the USD 155 resistance to stay higher. The next stop could be at $ 165, above that the bulls’ next target could be 188. Otherwise, a drop to $ 140 is possible.
Dogecoin (DOGE) is consolidating above the 0.200 mark. Immediate resistance is near the 0.205 level. The main resistance area is near the $ 0.212 mark. A sharp break above $ 0.212 can move the price towards $ 0.220.
The XRP price is trading well below the $ 1.00 resistance. A closing price above $ 1.00 could initiate a steady rise. On the other hand, $ 0.900 is a major breakout support. A closing price below USD 0.900 could result in heavy losses in the short term.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.
Several altcoins are up more than 5% including OMG, VET, QTUM, AMP, MIOTA, LUNA, XTZ, AUDIO, COMP and DASH. Of these, OMG gained 12% and topped the $ 12 mark.
Overall, the Bitcoin price stabilized above the $ 43,000 level. However, BTC needs to level off above $ 44,400 to continue rising in the coming days.
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