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.
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.
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.
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.
Join our Facebook group and Telegram group Coincu News to chat with more than 10,000 other people and share information about the crypto currency market.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.