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BTC and ETC Price Analysis for October 7



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Denys Serhiichuk

Which coins have chances to grow while Bitcoin (BTC) is falling?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bears have seized the initiative again as the rates of most of the coins are falling.

Top 10 coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has gone down by 2.48% over the last day.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) keeps falling after the false breakout of the resistance level at $20,432. At the moment, traders should pay close attention to the $19,00 mark. If buyers lose it, the drop may lead to the test of the support level at $18,270.

Bitcoin is trading at $19,618 at press time.

ETC/USD

Ethereum Classic (ETC) is less of a loser than Bitcoin (BTC) with a drop of 2.45%.

ETC/USD chart by TradingView

From the technical point of view, Ethereum Classic (ETC) is looking bearish as the price is located close to the support level at $26.64.

If the candle closes near this mark, it might generate a sharp drop as the altcoin has accumulated enough strength for a further decline.

Ethereum Classic (ETC) is trading at $27.44 at press time.



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