Ethereum faces aggressive selling pressure, Bitcoin in low volatility, XRP chaotic week

From Investing.com

October 4, 2024 12:30:19 AM:

Ethereum is facing aggressive selling pressure, resulting in a market-wide sell-off and a significant drop in market capitalization by billions. The selling activity, mainly from larger holders, is driving Ethereum’s decline, leaving it in a risky position. Key technical levels have been broken, fueling bearish sentiment among investors.

Bitcoin is stuck in a prolonged period of low volatility and declining liquidity, unable to break out of its downward trend. Traders are frustrated with Bitcoin’s lack of upward momentum and inability to surpass key resistance levels. A breakout above $63,000 is crucial for a rebound, while a breakdown below $59,000 could trigger a severe correction.

XRP experienced a chaotic week with erratic price movements, catching both bulls and bears off guard. A false breakout from a symmetrical triangle pattern led to big losses for traders on both sides. XRP’s price fell below important moving averages, indicating a continued decline unless significant buying pressure emerges. Key support levels to watch are at $0.55 and $0.50.

Read more at Investing.com: Ethereum (ETH) $32 Billion Catastrophe Continues, Bitcoin (BTC) in Limbo for 200 Days, XRP Showed Weirdest Performance in Last 7 Days By U.Today