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BTC, ETH and XRP Price Analysis for September 5

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The new week of the month has started with bears’ pressure as the majority of the coins are in the red zone. Polkadot (DOT) is the only exception to the rule, going up by 2.65%.

Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has faced a minor drop, falling by 0.59% since yesterday.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) is returning to the recently tested support level at $19,526 against the low volume. If buyers cannot seize the initiative by the end of the day, the breakout may lead to a sharp drop to the $19,000 zone very soon.

Bitcoin is trading at $19,718 at press time.

ETH/USD

Ethereum (ETH) is felling better than Bitcoin (BTC), according to the technical analysis.

ETH/USD chart by TradingView

Ethereum (ETH) is neither bullish nor bearish as the price is stuck in the middle of a wide channel. At the moment, one should pay close attention to the $1,640 mark. If bulls can get the rate back to it, local growth may continue to the nearest resistance level at $1,721.

Ethereum is trading at $1,567 at press time.

XRP/USD

XRP is the biggest loser from the list today as the price has dropped by almost 2%.

XRP/USD chart by TradingView

XRP is trading similarly to Bitcoin (BTC) as the rate is also returning to the support level at $0.3213. If nothing happens by the end of the day, bears are likely to keep the decline to the next level at $0.3119 until mid-September.

XRP is trading at $0.3246 at press time.

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