Bitcoin, Ether, and XRP Weekly Market Update September 21, 2020

Monday 21 September 2020, 10:21 PM AEST - 4 weeks ago

The total crypto market cap added $11.6 billion to its value for the last seven days and now stands at $348.3 billion. The top 10 currencies were mostly in red for the same period with ChainLink (LINK) loosing 19.3 percent while bitcoin (BTC) added 6.1 percent. By the time of writing bitcoin is trading at $10,950, ether (ETH) dropped to $373. Ripple (XRP) continues to slide and is now at $0.246.

BTC/USD

Bitcoin moved down to $10,333 on Sunday, September 13, and formed a short red candle after it was rejected at the lower end of the $10,700-$10,600 resistance zone. The coin found support at the 100-day EMA but broke its four-day-long winning streak.

The biggest cryptocurrency registered less than a percent of increase on a weekly basis.

On Monday, the BTC/USD pair saw a sudden spike in the demand and rose to $10,761 during intraday, breaking above the resistance area on the monthly timeframe. It ended the session at $10,667 or 3.2 percent higher compared to the previous day.

Bulls continued to push the price up and on Tuesday, September 15 reached $10,780. The 26-day EMA at $10,950 was also hit in the early hours of trading, which proofed that the buyers pressure was rapidly increasing.

The mid-week session on Wednesday was quite similar to the previous two, Bitcoin climbed up to $10,957 and added yet another $177 to its value.

The BTC/USD pair remained flat at the end of the trading day on Thursday, September 17 even though it was trading in the wide range between $10,740 – $11,00 during intraday.

The situation was exactly the same on Friday as the coin made no significant changes and conti ...

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