Cryptocurrency Market Oct 5th: Bitcoin and Other Altcoins Accelerate

Crypto market on October 5th by cryptonew: Bitcoin price remains stable above the support level of USD 46,500. As a result, BTC began rising again above the $ 47,500 and $ 48,000 resistance levels. At 04:34 UTC, BTC showed a positive sign above $ 49,000 and could rise above $ 50,000.

Similarly, most of the big altcoins also accelerate. ETH is back above $ 3,350 and could move back into the $ 3,500 zone. XRP needs to drop $ 1.08 to stay higher. ADA is still trading below the $ 2.32 resistance area.

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Cryptocurrency market on October 5th

Cryptocurrency Market October 5th: Bitcoin Price

After a bearish correction, Bitcoin price found support above $ 46,500. BTC formed a base and began spiking again above $ 48,000. The price is currently trading above $ 49,000. The first major resistance is near the $ 49,650 mark. The main hurdle remains at $ 50,000 above which the price could rise in the short term.

Immediate support on the downside is near the $ 48,500 mark. The first major support is at $ 48,000, below which a pullback to $ 47,000 is possible.

Cryptocurrency Market October 5th: Ethereum Price

Ethereum price also followed a similar pattern and found support near the $ 3,280 mark. ETH rises and back above the USD 3,350 level. On the flip side, initial resistance is near the $ 3,420 level. The next major resistance is now near the $ 3,480 and $ 3,500 levels above which the bulls can gain strength.

Otherwise, there is a risk of falling again towards the USD 3,280 and USD 3,250 support levels. The next big support is at $ 3,150.

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Cryptocurrency Market October 5th: ADA, LTC, DOGE and XRP prices

Cardano (ADA) is consolidating near the $ 2.20 mark. The immediate hurdle for the bulls is $ 2.25. However, the main breakout area is at $ 2.32. A closing price above $ 2.32 is a must for short term stronger gains.

Litecoin (LTC) is rising to trade above $ 165. Initial resistance is near the $ 175 mark. A clear break above the $ 175 mark could establish a larger uptrend. In this case, the price can test the $ 188 level.

Dogecoin (DOGE) is up 12% and can climb above the $ 0.220 resistance. It is currently trading above $ 0.240 and facing hurdles near $ 0.250. Any further gains could set the pace for another rally towards $ 0.275.

XRP price is still struggling to break the $ 1.08 resistance area. As XRP settles above $ 1.08, it can begin a steady increase towards the $ 1.15 and $ 1.20 levels. Conversely, it may fall towards the USD 1.00 support.

Bitcoin is the next step in the Evolution of Money - BLOCKGENI

Cryptocurrency Market October 5th: Another Altcoin Market

Many altcoins are up more than 5% including SHIB, ICX, KLAY, ICP, REN, FLOW, FIL, CRV, ONE, LUNA, RUNE, STX, DCR and HBAR. Of these, SBIH is up more than 57% and could continue to climb above $ 0.00013.

Overall, Bitcoin price is showing positive signs above the $ 48,500 mark. If BTC breaks the $ 50,000 mark, it could soar higher in the short term.

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