Litecoin Validates A Bearish Pattern – Will LTC Price Force Buyers To Exit?
As Bitcoin price struggles to maintain its momentum above the crucial $28K mark, it triggers a selling wave in leading altcoins. The ‘Uptober’ trend appears to be fading as leading altcoins, including LTC, flash red, signaling potential dips after validating a bearish pattern. With several on-chain data now indicating bearish signs, LTC price seems poised for another surge of selling pressure.
Litecoin’s Long/Short Ratio Surges Near The Dip
Following a drop in LTC price from $68, buyers rushed to sell off their positions to sidestep further losses. Coinglass data unveils that almost $1.6 million in long positions were liquidated in the past 48 hours. This activity has gradually strengthened the resistance level, paving the way for sellers to potentially capitalize on reversing the trend.
Additionally, Litecoin’s trading interest has declined, evidenced by a sharp decrease in the Open Interest (OI) metric. The OI metric plummeted by more than $11 million in the recent 24 hours, as LTC’s declining volatility struggled to capture market interest. Data from IntoTheBlock highlights a downturn in LTC’s volatility, which has been gradually decreasing for over a week, sliding from a peak of 38.4% to a low of 31.9%. This has emerged as a primary factor in Litecoin’s price decline.
Nonetheless, after the LTC price touched the $63 mark, a boost in confidence among long position holders was observed. The long/short ratio indicates a surge, currently trading at 0.9897, hinting at a fierce struggle between bulls and bears. At present, bulls are asserting their dominance with 49% long positions, while bears are responding with 51% short positions. Consequently, LTC price has managed to sustain a steady momentum below the $65 threshold.
What’s Next For LTC Price?
Litecoin price surged above $68 but failed to meet buyers’ expectation as sellers triggered intense pressure near this high. As a result, LTC price declined and buyers attempted to hold the momentum near $65 but failed due to increasing domination from sellers. As of writing, LTC price trades at $64.1, declining over 2.7% in the last 24 hours.
Typically, the rise of a bearish setup is viewed positively, as bulls, previously on standby, seize the opportunity to buy. After Litecoin reached the dip of $63, buyers bought in and pushed the price above 23.6% Fib channel. However, the price might soon dip and retest the breakout level of $62 before any significant upward movement occurs.
If the level of $62 sustains, it would indicate that bulls have successfully converted the region into a strong support. Hence, the Litecoin price might initiate an upward trajectory towards $65 and potentially further to $68 if it rebounds successfully.
Conversely, if the price declines and drops below the initial bearish zone, it would suggest that the markets have rebuffed the higher levels. The price might then visit the crucial support at $57.
ETH Price On The Path Of Rally To $2K?
The crypto market has witnessed another dip in its value as cryptocurrencies trade in the red for the second straight day. With Bitcoin price losing close to 1%, Ethereum price following in its footsteps and has lost over 2% in its value.
Since September, ETH Price has made multiple attempts to break out of the resistance zone at $1,639 but failed to hold the price above the range, resulting in the coin losing momentum and falling below the range.
Ethereum price then continued to dip and broke down the support level of $1,576.01, but for a very short period, following which the bulls pushed the price back up quickly.
The bulls then made another attempt last week and successfully managed to break out, following which the price experienced and broke out of an important resistance level of $1,661.37.
Further, the Ethereum coin continued to jump and managed to break out of the crucial resistance level at $1,730.93, but for a very short period, following which the price was rejected, indicating the bear power.
The ETH price is presently trading with the support of an ascending trendline and close to its support zone at $1,624. Despite the Golden Cross, the Altcoin has traded under a bearish influence. Ethereum is expected to retest this level before a possible rebound in the coming days.
The MACD displays a sharp decline in its averages, indicating a weak price action. Moreover, the histogram displays a constant red histogram, indicating an uncertainty in the future price action of the ETH coin.
Will ETH Price Regain the $2K Mark In 2023?
If the bulls gain power and push the price above $1,661, the coin will experience a bullish moment and continue trading upwards. Further, if the market breaks out of the resistance level at $1,695, the coin will prepare to test the upper resistance level of $1,730 this week.
If the ETH coin manages to cross the $1,800 mark by the end of the month, then the Ethereum price will start trading on a bullish note and will target to achieve the $2K mark by the year-end.
On the flip side, if the bears gain control over the market and the Ethereum price breaks down the support zone, then the top altcoin will experience a trend reversal. Moreover, if the coin fails to hold its price over $1,619, then the price will continue to dip and test its lower support level of $1,576 soon.
Ripple Price On The Verge Of A Breakout
The crypto industry experienced a fall for the second straight day, indicating massive selling pressure within the market. Despite Bitcoin and Ethereum prices trading in the red, XRP price has managed to be the top gainer, with an increase of over 3% compared to the last day.
Following the price plunge after the Ripple vs. SEC case victory, the XRP coin was seen trading in consolidated ranges for a brief period, after which the price took another dip in its value. After the dip, the XRP price has been steadily traded in an ascending channel since mid-September.
Ripple’s XRP has made multiple attempts to break down the trend, but the bulls have managed to hold the price within the range, resulting in the coin continuing to trade in the channel.
Further, the EMA 50 and 200 days are moving close to each other and are on the verge of the golden cross, which could result in the price gaining a bullish moment and possibly breaking out of the trend.
The MACD has displayed constant volatility in the charts since the beginning of the month of September. Moreover, the chart displays a recent spike toward the green histogram, indicating a strong price action for the XRP token.
Will Ripple Rise To $0.55 Soon?
If the bulls manage to gain power and push the price above $0.5337, then the price will gain momentum. Further, if the market manages to hold its price, then the price will continue to rise and test its upper resistance of $0.5589 soon.
If the market experiences a golden cross, then the price will witness a significant value jump and may retest the $0.700 level this month.
On the contrary, if the bears overpower the bulls and a trend reversal occurs, then the price will lose momentum and test its support level at $0.5130. Moreover, if the bulls fail to hold the price at that level, then the price will continue to dip and test its lower support level of $0.4913.
XLM Price Analysis: Will XLM End Consolidation On Bearish Note?
While most of the altcoins are rising higher with the Bitcoin recovery rally this Uptober, Stellar is far from the limelight. The XLM price struggles to end the consolidation trap as it moves along the 200-day EMA.
Despite the recent correction and consolidation, with a 34% YTD growth, 2023 remains bullish for XLM and also for the Stellar price prediction in the coming year.
Trading at a 42% discount from the 52-week high of $0.1959, XLM price exchanges hand at $0.1123 with an intraday fall of 2.04%. The intraday pullback erases off the last night’s gain of 2.79% and prolongs the sideways movement.
The consolidation range displays a constant struggle between the buyers and sellers to regain trend control. Additionally, the declining trend momentum drives the 50-day EMA lower, increasing the death cross possibility.
Considering the buyers remain dominant at the $0.1092 psychological mark, the XLM price will manage an upside continuation.
Technical pointers:
DMI indicator: The falling ADX line with the consolidating XLM price reflects the obvious loss in trend momentum. Moreover, the DI lines merge, reflecting an indecisive state.
EMA: The increasing chances of a death cross, a bearish crossover of 50 and 200-day EMA, warns of a death cross.
What’s Next For Stellar (XLM) Price?
Due the long consolidation range, the XLM price trend becomes extremely indecisive and warns of a sharp move on either side. However, the chances of breakdown below $0.1092 are lower due to overall market recovery.
Therefore, a bullish reversal above the 50-day EMA will reach the $0.13 mark, accounting for a 15% jump.
On the flip side, a downfall will plunge the market value to $1069.
XRP Price Analysis: Bulls Eye $0.70 as Bears Look to Pullback!
Following the sharp correction to $0.4590 with a resistance trendline formation, the XRP price action displays a bullish recovery. The recovery rally prolongs the overall uptrend seen in Ripple prices in 2023.
With a 58% year-to-date growth, the uptrend continuation strengthens again even after losing the partial victory gains against the SEC. Moreover, the market-wide Ripple price prediction improves with buyers reclaiming the psychological mark of $0.50.
In the 4-hour chart, the XRP price action displays a trend reversal with the 200 EMA breakout. Moreover, the price action showcases an inverted head and shoulder breakout, formed diagonally with the neckline as the overhead resistance trendline.
Despite the trendline breakout, the Ripple breakout rally faces opposition from the $0.54 supply zone, leading to multiple reversals. The breakout and post-retest rallies both fail to surpass the excessive supply.
Moreover, the rejections warn of a double top pattern forming, which may lead the XRP price back into a bearish trend. Additionally, the reversal threatens the possibility of a golden crossover in the 4-hour chart.
Technical Indicators:
DMI indicator: The uptick in the ADX line (black) reflects a rise in the trend momentum in XRP price. Additionally, the DI lines maintain a positive alignment, reflecting a bullish trend in motion.
Exponential moving averages: The rising 50 and 200 EMA in the 4-hour chart project a high possibility of a golden crossover.
Will XRP Price Cross Above $0.55?
With the bullish attempts struggling to surpass the $0.54 supply zone, the XRP price action hints at a sideways trend before the breakout. As the broken trendline becomes a level of support, the downtrend continuation chances for Ripple are minimal.
Considering the Ripple prices break above the $0.54 zone with the market-wide recovery, the altcoin prices will skyrocket. The breakout rally is expected to test the $0.70 mark and end 2023 above $1.
3 Reasons The Bitcoin Price Can Hit $35,000 In October, While This ‘Next Bitcoin’ Token ICO Nears $400k
After an explosive start to the month – which saw major cryptocurrency prices surge – the crypto market is experiencing a substantial pullback today.
Bitcoin’s rally to the $28k price mark yesterday failed to breach the 200-day Simple Moving Average, resulting in a 3% correction in its price over the past 24 hours. Altcoins like Ethereum, Dogecoin and XRP are also mirroring BTC’s bearish move, experiencing strong declines themselves.
And yet, most experts remain bullish on Bitcoin in both the short and long term, fully expecting the “Uptober” scenario to play out. They are projecting BTC to close the month somewhere in the $32,000 to $35,000 price range, owing to the continued enthusiasm around Bitcoin spot ETFs, cooling inflation levels and favourable technicals.
With fresh capital expected to enter the market, a new cryptocurrency – Bitcoin Minetrix – is also being backed by popular traders to display a strong bull rally. In a short span of a week, the token ICO has already raised close to $400k in seed round funding.
Experts Give Bullish Bitcoin Price Prediction Despite Short-Term Losses
Over the past month, Bitcoin has continued to follow the trend of displaying a bullish breakout move, immediately followed by a near-full retrace of its rally. This trend continues to liquidate both the bears and the bulls, keeping the BTC trading market choppy.
Yesterday’s price action was no different, with the largest cryptocurrency hitting the $28k level without being able to hold it. BTC is currently priced at $27.4k, with the open interest in the token now down to the same level as before the initial rally.
However, Michael van de Poppe of MN Trading, who has close to 700k followers on X, reveals that BTC’s higher-time frame charts still look great, adding that the Bitcoin price can hit the $35k mark in the next 4 to 8 weeks if it continues to trade above the 200-week EMA.
Indeed, BTC’s technicals paint a bullish picture, with TradingView giving the token a “buy” signal in the daily time frame. The bulls would next hope to breach the crucial 200-day Simple Moving Average at $28037 to see a strong continuation.
Similarly, popular analyst @davthewave, who has close to 150k followers on X, reveals that the BTC weekly Gaussian channel has turned green, which traditionally marks the onset of the next bull run.
Trader and analyst @CryptoJelleNL, who has 50k X followers of his own, is much more bullish on BTC, predicting it to hit the $48k mark in the coming months, with $32k a strong possibility for October. He highlights that Bitcoin is back over its 21-week Explosive Moving Average, an indicator that has previously acted as a support for the bull market.
Benjamin Cowen of IntoTheCryptoverse, who has close to 800k followers on X, points out that the BTC dominance has successfully retested its bull market support band and continues to trend higher.
Apart from strong technicals, the anticipation around spot Bitcoin ETFs continues to give a major boost to BTC’s value. Despite the SEC delaying its decision on the pending applications once again, investors continue to believe that a spot BTC ETF is not a matter of if, but of when.
Bernstein analysts and other market insiders had already projected the ETF to be approved by early 2024, therefore, delays by the SEC are not dampening investors’ enthusiasm. On the other hand, US lawmakers – from both parties – are now actively and openly pushing the SEC to approve the ETFs, which can lead to more investors opening long positions on BTC.
Finally, Bitcoin may also be getting an unexpected but welcome boost from the US economy, as the PCE index recently showed signs of cooling inflation. While several Fed officials are signalling the possibility of another interest rate hike, experts such as Warren Pies of 3Fourteen Research see the move as unlikely.
In short, the market outlook on Bitcoin is distinctively positive and the token could be hitting the $35k price mark by the end of October.
‘Next Bitcoin’ Project Bitcoin Minetrix Approaches $400k In ICO
BTC is not the only cryptocurrency expected to surge in October – the new Bitcoin Minetrix altcoin is gaining strong traction in its ICO, having already raised $385k in just a week.
The project aims to make the Bitcoin mining industry accessible to retail investors, consequently offering an excellent opportunity to earn passive BTC rewards.
In the early days, mining Bitcoin was much more preferable than purchasing it in the open market. In fact, Laszlo Hanyecz – the man who became the butt of many jokes for exchanging 10,000 BTC for two large pizzas – mined all his tokens himself.
However, the profitability of the sector led to an arms race between wealthy corporations, making it impossible for an ordinary enthusiast with a CPU to mine his own BTC. Studies have shown that mining 1 Bitcoin may cost upwards of $200,000k in some countries.
To challenge this monopoly, Bitcoin Minetrix’s cloud mining platform is allowing investors to rent a portion of the computational power, without running the mining operation themselves.
Investors can purchase $BTCMTX tokens and stake them to earn mining credits. These credits can eventually be sent to a burn address, in exchange for a percentage of the yields or cloud mining time, leading to lucrative BTC rewards.
Cloud mining is not a novel concept, however, constant scams and frauds have previously turned investors away from the industry. Such investors will now be able to trust Bitcoin Minetrix’s tokenized approach, considering that they can unstake and sell their tokens at any time – no scams and no long-term cash contracts.
Interested buyers can purchase and stake the BTCMTX token in the presale at bitcoinminetrix.com for just $0.011 with a debit / credit card or by swapping ETH, USDT or BNB.
Whales Begin Dumping Ethereum as Large Holder Netflow Surges! How Low Can ETH Price Go?
The ‘Uptober’ momentum in the market is currently dimming, with both Bitcoin and Ethereum retracting from pivotal price points. This downturn was somewhat expected as whales sought to capitalize on opportunities to secure their profits and make a market exit. As a result, the price of ETH has dipped perilously close to its breakout point, leaving traders in confusion regarding its upcoming trajectory.
Whales Made A Massive Inflow
Whales have ultimately unveiled their pump and dump strategy, highlighting the Uptober trend. Today, Ethereum’s price experienced a significant long-liquidation and a surge in inflow, indicating that whales have exited, securing their profits.
Coinglass data reveals that $28 million worth of long positions were liquidated today after the ETH price declined below $1,725. As a result, it intensified the selling pressure, and the altcoin dropped toward the low of $1,670.
Interestingly, whales have successfully implemented their strategy, evidenced by a spike in Netflow, as per IntoTheBlock data. Since Netflow illustrates the difference between inflow and outflow, a surge in this metric indicates a predominant inflow over outflow, hinting at the likelihood of ETH being sold on exchanges. Currently, the Netflow stands at 46K ETH.
Furthermore, the Netflow ratio of large holders to exchange Netflow has surged to 4.65%, implying that whales are the primary drivers behind the inflow and Netflow spike, indicating a selling sentiment in the ETH price.
Ether futures-based ETFs also triggered the selling pressure as they made a slow start with nine launching, offering varied exposure to ether and bitcoin futures. Valkyrie’s Bitcoin Strategy ETF is adapting its strategy to include ether, while new entrant VanEck’s Ethereum Strategy ETF traded about 25,000 shares, totaling approximately $425,000 on its first day. This was notably subdued compared to ProShares Bitcoin Strategy ETF’s $1 billion first-day trading volume in October 2021.
What’s Next For ETH Price?
Ether’s price failed to break above the $1,750 level as the whales’ exit created a sharp decline on the price chart. ETH price dropped below the EMA20 trend line recently, and bears are now preparing for a downside as bulls face low buying confidence. As of writing, ETH price trades at $1,646, declining over 3.5% from yesterday’s rate.
The 20-day EMA at $1,675 is showing a downward trend, and the relative strength index (RSI) drops below the midline, signaling a bearish dominance. Sellers are currently attempting to eliminate bullish hope by sending the price below EMA100. However, a rebound above the trend line will accelerate the likelihood of a recovery rally surging above $1,700. Should this occur, the ETH price might aim for a push above $1,750.
Sellers, however, will attempt to obstruct the recovery. To dampen the positive momentum, they must pull the price below the downward line. Consequently, the price might prolong its presence within a bearish range, testing the support at $1,530.
Bitcoin (BTC) Price Can Hit $35K in Next 4-8 Weeks – Predicts Analyst Michaël van de Poppe
After a promising rally last week, Bitcoin (BTC) has faced challenges maintaining its bullish momentum over the past two days, leading to a rise in short-term bearish sentiments. With a decline of approximately 4 percent in the last 24 hours, Bitcoin’s price now rests on a crucial support zone.
The ability to hold this support will be pivotal in determining whether a bullish trend will continue in the coming weeks. Additionally, historical data suggests that during the pre-halving year, October tends to be a bullish month for the entire cryptocurrency industry.
Analyst Michaël van de Poppe Predicts a Bitcoin Rally to $30k
Renowned crypto analyst Michaël van de Poppe, based in the Netherlands, has noted that Bitcoin has consistently held above the 200-weekly Exponential Moving Average (EMA) in recent months. This suggests the bulls may have the upper hand in the weeks ahead.
However, van de Poppe emphasizes that Bitcoin’s price must maintain higher lows in the lower time frames for this upward momentum to continue. If this condition is met, there is potential for a significant rally in the $30,000 to $35,000 range within the next two months.
Looking at the Bigger Picture
As the U.S. government shutdown crisis was averted at the last moment, Bitcoin’s liquidity is expected to continue improving. This comes as investors prepare for the fourth Bitcoin halving event, scheduled for around April 25th next year. Nonetheless, the upcoming trial ruling concerning former FTX boss Sam Bankman-Fried (SBF) tomorrow is anticipated to impact Bitcoin’s volatility substantially.
Crypto Market Analysis: Is This End Of the Bear Market? Here’s What Next For Bitcoin Price
A seasoned trader renowned for accurately predicting the bottom of the 2018 bear market for Bitcoin (BTC) now believes that the leading cryptocurrency, bitcoin, has transformed into a bull market.
Bitcoin Price Prediction After Recent Rally
A prominent trader named Bluntz has recently posted on X that Bitcoin’s recent rally has altered the course of the future price trajectory for Bitcoin.
Meanwhile, the recent price surge can be attributed to the recent SEC approval of the Valkyrie fund. Consequently, Bitcoin’s price has surged from $27,100 to its current value of $28,250, marking an impressive 8% gain within a week.
Bluntz has stated that the recent increase in Bitcoin’s price has changed his prediction. Previously, he had forecasted that the Bitcoin price would drop to $24,430 before reaching the target price of $30,000. He based his prediction on the Elliott Wave theory.
But now, he says that Bitcoin going above $27,000 is a sign that things are looking up.
He said, “Bitcoin’s doing better, and that old idea of going down is no longer valid. It’s time to stop thinking negatively.”
AVAX’s Potential to Shine Amid Tough Times
Bluntz also monitors another cryptocurrency called Avalanche, or AVAX for short. It’s kind of like a competitor to Ethereum. Bluntz thinks AVAX might start doing well soon because it’s been through a tough time this year, losing over half its value.
He said, “AVAX is looking good on the weekly chart, and it’s been through a tough year. I think it might start going up by quite a bit.”
Ripple News: Analyst Predicts XRP Price Rally – Is $0.66 Possible?
XRP Price has shown positive signs of growth, breaking key barriers and sparking predictions of reaching $0.66 soon. This relies on XRP staying above $0.50. Ripple, the company behind XRP, recently released a billion XRP tokens, slightly boosting the price. For a sustained rise, it needs to maintain above $0.50. Even though Ripple’s proper party failed to boost the coin price,
XRP Price Prediction – Is ATH on Horizon?
An analyst named Dark Defender pointed out a breakout in XRP’s price, similar to a rally in July after a legal win against the SEC. Dark Defender suggests $0.66 as a potential target if XRP doesn’t dip below $0.50. October usually sees good trading activity in the crypto market, favoring assets like XRP and Bitcoin.
Adding fuel to the fire, a technical pattern points to a possible upward shift. Thanks to Ripple’s latest ‘Clawback’ feature, that is seen as a positive for XRP’s value. This feature adds intensity to enhance control over tokens issued on the ledger, potentially positively impacting XRP’s performance.
Let’s see how and why it’s important for XRP to achieve a new ATH.
Analyst Projects a Breakout Rally for XRP
Historically, it’s proven that October is a good samaritan for the crypto market, especially after a relatively quiet third quarter. QCP Capital, a crypto asset trading firm, pointed out historical data indicates this seasonality in the crypto market. If this pattern holds, it could bolster XRP’s performance in the short term.
In a technical analysis, the analyst highlighted that XRP ended September with a “doji” candlestick pattern. But what this pattern suggests is more interesting: there is a silver lining between buying and selling pressure, hinting at a possible reversal from the recent downtrend. According to the analyst, this could indicate that XRP might move towards $0.66.
A Long Dive Possible if…
From here onwards, the analyst sees a long-term channel that may hit resistance levels at $0.91 and $1.33, with the potential for a new all-time high at $5.85 if it surpasses $1.8815. Currently, XRP trades at $0.50797, seeking support at the 38.2% Fibonacci retracement level at $0.5083 on the 4-hour chart.
If XRP can breach this critical resistance level, the analyst anticipates that the all-time high (ATH) will come into play. However, should further capitulation occur, the crypto analyst foresees a substantial support zone ranging from 39 to 46 cents.
Will BTC Price Test For A Rebound Soon?
Bitcoin, the star crypto of the industry, had started the month of October on a positive note as the coin had gained nearly 5% in value. The market leader recently experienced a dip in its value from $28,584 to $27,287, after which BTC price has again started rising steadily.
The crypto market has been trading under a bearish influence for more than 500 days, making it one of the lengthiest bear markets of all time.
The industry experienced a surge during the start of the year, when the value of Bitcoin price jumped by almost 100%, following which the market plunged and is once again trading in the accumulation period, waiting for the prolonged bull rally to begin.
Bitcoin Price Analysis
Altcoin Sherpa, a well-known crypto analyst with a substantial following of 196K + on the X platform, predicts the BTC price may experience a rebound soon. He points out the support and resistance levels, displaying the possibility of a breakout.
By suggesting the possibility of Bitcoin gaining value in the coming days, the analyst hints at a potential opportunity for investors and traders to enter the market and make a trade.
Will BTC Price Go Back Up?
Taking into consideration the analysis of Altcoin Sherpa, Bitcoin price is expected to rebound as it displays bullish movements in its charts. Further, if the BTC price manages to cross the $28,000 mark soon, then the coin will continue to gain a bullish sentiment from the market.
With the market gaining momentum at the beginning of October, also know as the month of Uptober in crypto-verse. considering the historical market sentiments. The investors have high hope from the market this month as the month has started on a bullish note.
Cardano About To Experience A Price Jump?
The crypto market displayed a short relief after the consecutive price jump for two days, following which the industry today witnessed a minor correction of nearly 2% in value. Ethereum price, on the other hand, experienced a fall of over 3% in value, whereas its competitor Cardano has lost less than 1%.
The ADA price has been trading in an ascending channel for over a week, indicating a bullpower in the market. After multiple failed attempts to break out of the resistance zone at $0.2585, the ADA coin finally managed to break out of it recently, after which it retested its support zone but bounced back quickly.
Further, the EMA 50 and 200 are moving close to each other, displaying the Cardano coin on the verge of experiencing a bullish crossover soon, which could result in the ADA price jumping to new highs in the coming days.
The RSI has been trading above the mid-point for over a week now and was seen trading above the overbought range for a short period of time, following which the average displayed a sharp decline in its charts, indicating a decrease in buying and selling power.
Will ADA Price Go Up?
If the bulls continue to gain power and push the Cardano price above its resistance level of $0.2670, then Cardano’s ADA will initiate a bullish momentum. Further, if the ADA coin manages to hold the price above that level, then the price will continue to gain value and test its upper resistance level of $0.2750 soon.
On the flip side, if the bears gain control of the market and a trend reversal occurs, the coin will lose its momentum and start trading negatively. Moreover, suppose ADA crypto breaks down the trend, then the price will experience a plunge in its value and test the support zone at $0.2570.
If the market fails to hold the price above that level, the coin will further dip and test its lower support level of $0.250 this week.
BCH Price Analysis: BCH Eyes $300 Despite A Bear Trap!
The post BCH Price Analysis: BCH Eyes $300 Despite A Bear Trap! appeared first on Coinpedia Fintech News
With the market taking a bullish step in October, the altcoins are rising higher to their previous swing highs. Even the BCH price reaches the $250 mark with a remarkable growth of 10% within just two days.
Currently, the overhead supply pressure at the psychological mark triggers a short correction in the Bitcoin Cash market value . However, with the sentiments taking a positive turn, the expectations for the Bitcoin Cash price prediction in 2023 remain optimistic.
With the recent recovery, the larger trend of the BCH price tells a story of a bullish revival to rise higher. The dominating buyers’ territory at $180 and the 200-day EMA gave Bitcoin Cash a bounce pad to regain momentum.
Moreover, the sharp rise to the $250 mark completes a rounding reversal that hints at an inverted head and shoulder. Currently, the altcoin price trades at $243.41 with an intraday fall of 1.23% and hints at a tweezer top.
With the incoming overhead supply pressure, the chances of BCH price taking a second dip to the $228 mark are increasing. This correction phase will complete the bullish pattern with the neckline at $250.
Technical indicators:
Coming to the technical indicators, the Directional Movement Index and the Exponential Moving Averages sustain a bullish point of view.
DMI indicator: The ADX line (black line) skyrockets with the recent recovery, signaling a strong momentum. Moreover, the DI line maintains a bullish standpoint and signals further recovery.
EMA: The 50 and 200-day EMA maintain a positive alignment and continue to rise higher, which certifies the uptrend in motion.
Will Bitcoin Cash (BCH) Price Touch $300?
Struggling to overcome the $250 mark reflects a potential pullback to $228 in BCH price. However, the inverted head and shoulder pattern formation will increase the likelihood of Bitcoin Cash exceeding $300. With the potential to continue the rally above, the reversal from $228 or the $250 breakout will prove a crucial entry point for sideline buyers.
Considering the price breaks below the $228 post, the downtrend will plunge the prices to $200.
Ripple IPO Valuation Predicted to Skyrocket 20x to $600. Will XRP Price Hit New ATH?
Once a rumor can become today’s reality, Ripple’s much-anticipated move of the year will be an IPO. IPO has been buzzing since Ripple won the summary judgment, and Ripple’s CEO announced a success party for its true XRP community for supporting the native token all through three years.
But one question everyone is keen to know is how Ripple would react when Ripple goes public via an initial public offering (IPO). Will its native token which has been sailing flat at $0.50 for the past few months, resurrect and achieve a new ATH? Let’s understand the chances.
Ripple’s Stock to Go $600? If…
Financial veteran Linda Jones, with a seasoned background on Wall Street, has analyzed Ripple’s situation from an investor’s perspective. She’s tossed out a $5.7 billion valuation for Ripple’s potential stock, a figure she believes to be quite conservative. Based on Linqto platform data, the per-share price is estimated at $35.
However, Jones has a more bullish scenario in mind. She contends that Ripple, with its hefty XRP holdings and the impressive debut value of Coinbase, could potentially be valued at $107 billion. Should this projection hold, Ripple’s stock could be priced at around $600.
The Logic says it can!
If it all happens, then the analyst is sure that Ripple’s stock soars to these anticipated heights; it could also give XRP’s price a rocket boost. This situation, though, is quite unprecedented. We’ve seen Bitcoin’s price surge directly impacting the stock prices of Bitcoin mining companies. Applying this logic to Ripple, it’s plausible that a surge in its stock price could significantly pique interest in XRP, potentially leading to an uptick in its value.
Challenges it can face?
Ripple is technically further along the road to IPO, but their problem is that IPO has to go through SEC approval, so it could be delayed unless it moves outside the USA. Can’t see them relocating now they have clarity for XRP so that you can bet on Ripple, but I wouldn’t expect it too soon.
XRP to Hit New ATH?
Dark Defender predicts XRP will rise to $5.85, a significant increase from earlier projections. Recent price action for XRP is encouraging, and they expect a short-term retest at $0.66. Breaking $0.55 is a critical milestone that might start a bullish trend. This projection covers 2026, demonstrating a lengthy view. Despite its recent underperformance, XRP has the 5th-largest market valuation at $27.9 billion. It trades at $0.523.
In summary, if Ripple’s stock hits a projected level, XRP may rally dramatically. Remember that this situation is unique and that Ripple’s stock performance and XRP’s price are subjective. If Ripple’s stock drops, XRP may too, and vice versa. So buckle up—the ride will be surprising!
Bitcoin Sellers In Fear As Buyers Knock $28.5K! Will On-chain Data Hold BTC Price?
Buyers are aggressively buying Bitcoin today, causing its price to surge past several Fibonacci levels. At the moment, Bitcoin is gearing up for another significant uptrend, tapping the $28.5K mark, much to the dismay of sellers. On-chain statistics show interesting bullish indicators, putting those in short positions in a trap.
Bitcoin’s Outflow Surges To 1-Month High
It seems that the ‘Uptober’ trend is becoming true as Bitcoin unexpectedly surged past the $28,000 mark today, a level not witnessed since August 17th. This rise has renewed the excitement of crypto enthusiasts and traders. Coinglass data reveals that short-positions worth around $43 million were liquidated over the last 24 hours as BTC price didn’t meet sellers’ expectations near resistance levels.
According to Glassnode, the mean liquidation of short-positions has reached a three-month high of $86,186, suggesting a mood-off among sellers. Moreover, BTC’s bearish pullback chances have been reduced as UTXO in profit touches a 1-month high of 124,953,234.
UTXO represents the unspent Bitcoin after a transaction. If UTXO is in profit, the unspent Bitcoin’s value is higher than its last transaction. A high profitable UTXO suggests many Bitcoin holders are in gain, boosting confidence and reducing the likelihood of panic selling, thus stabilizing the price and decreasing the odds of a sharp downturn.
Moreover, with the surge in exchange outflows, which recently hit a 1-month high of 1,275 BTC, there’s a noticeable reduction in Bitcoin’s availability on trading platforms.
This significant dip in exchange reserves, which are often used for selling purposes, reduces the chances of Bitcoin being offloaded in the market. As a direct consequence, those holding put positions find themselves in a tight spot, while the confidence among buyers is boosted. This renewed trust could very well catalyze an upcoming buying wave for Bitcoin.
What’s Next For BTC Price?
Bitcoin has consistently traded above its moving averages, signaling a bullish trend. After breaking above $28K, BTC price is now attempting to surge above $28,500. As of writing, BTC price is trading at $28,321, surging over 4.45% from yesterday’s rate.
While bears attempt to stop the rally at around $28,500, the bulls are showing confidence, indicating that minor dips are being promptly bought up. This heightens the likelihood of surpassing the $28,500 mark. If achieved, the BTC price might challenge the key resistance at $30,100, where bears might intensify their selling efforts.
If the price sharply drops from $28,000, it could revisit the 20-day exponential moving average, priced at $27,461. A robust rebound from this point could send the price beyond $28,500.
However, this bullish outlook could be short-lived if the price plunges below the EMA20 level. The RSI level on the 4-hour price chart is trading above the overbought region, strengthening the chances of a minor downward correction in the coming hours.
Will DOGE Price Break Out Soon?
The cryptocurrency industry starts the month of October in green as the market witnesses a jump in its value for the second consecutive day. With the top cryptos now stabilized and gaining value daily, the market is expected to trade the month on a bullish note.
Following the price dip in mid-September, the coin experienced massive price volatility, resulting in the coin trading in a descending triangle and a consolidated range for a brief period of time. The memecoin was then seen trading close to its support zone, where the coin repeatedly managed to hold itself above the levels indicating the bull power.
The Dogecoin recently broke out of the descending triangle and has now started trading with the support of an ascending trendline. The coin is heading towards its resistance level of $0.06459 and is predicted to be tested soon.
The RSI averages constantly test the overbought zone as the coin repeatedly fails to break out of it, indicating a strong buying and selling power. Moreover, Dogecoin continues hovering around the level, indicating that the price will gain value in the coming days.
On the other hand, the MACD displays a green histogram, indicating a positive price action. Further, the chart shows a rising trend in its graph, indicating the Dogecoin price to continue trading on a bullish note this week.
Also Read: Dogecoin Price Prediction 2023 – 2025: Will DOGE Prices Shoot To The MOON?
Will Doge Coin Price Regain Its Value?
If the Bulls continue gaining power and the DOGE price breaks out of the resistance level at $0.06459, then the price will continue trading on a bullish note and prepare to test the upper resistance of $0.06706. Further, if Dogecoin continues to hold its price, it will head towards its target price of $0.06931 in the coming weeks.
On the contrary, if the bears overpower the bulls and a trend reversal occurs, then the memecoin will lose its momentum and start trading negatively. Moreover, if the market fails to hold the price of Dogecoin, the coin will continue to lose its value and will retest its support zone of $0.0600 this month.
Dogecoin (DOGE) Price Could Hit $0.08 Again If This Trade Plays Out Well!
The prevailing market conditions did not appear to be in favour of the bulls until the DOGE price triggered a favourable rebound at $0.0605. The price has failed in its every attempt to rise beyond $0.07, hence making the resistance at $0.08 one of the crucial ones to achieve. The mid-August plunge has weakened the bulls to such an extent that the selling volume has diluted the buying pressure. However, the Dogecoin price is approaching a crucial juncture that indicates a probable rise to $0.08.
DOGE prices often experience a bullish push with the rise in positive market sentiments, backed by some mentions over the various platforms. However, they remain short-lived as the levels drop back to their initial stage. Presently, the crypto market sentiments are somewhat positive as the Bitcoin price trades around $28,000, indicating the possibility of hitting $30,000 soon.
Therefore, as the flagship crypto surpasses $30,000, the DOGE price is also expected to rise as the memecoin is at the foothill of an explosion.
The DOGE price has been holding the support zone between $0.0605 and $0.0626 ever since the start of 2023. Despite September remaining largely under the bearish influence, the token defended the support levels well. This indicated the strong presence of bulls who are accumulating strength to trigger a fine rebound. If the previous trade plays out, then the DOGE price is primed to reach $0.08 before the end of the monthly trade.
Presently, the Dogecoin (DOGE) price is completing an uptrend that has occurred in the past. The trend has been accomplished with the accumulation and may maintain a healthy upswing for the next couple of weeks to reach $0.08. Besides, the volume remains low comparatively, which may hinder the progress of the rally. Therefore, if the price surges above $0.07 before the end of the week, then one can expect a fine rise towards the significant resistance. Otherwise, a rejection could be imminent.
BTC Price Analysis: Will Bitcoin Price Visit Yearly Highs in October?
Bitcoin (BTC) opened the first week of October with a bullish outlook, in line with statistical predictions. In the past 24 hours, Bitcoin’s price has surged by approximately 4.6 percent, bringing it to around $28,368 during the early London session on Monday.
This upward movement has also impacted the broader cryptocurrency market, with Ethereum (ETH) and Solana (SOL) seeing gains of approximately 3.4 percent and 14 percent in the past 24 hours.
Bitcoin Price Analysis
Renowned digital asset analyst Mikybull Crypto, who has been closely monitoring Bitcoin’s trade setup for months, anticipates that Bitcoin’s price will revisit this year’s high in the coming weeks. Furthermore, Bitcoin recently broke out of a micro-falling trend that began in early July.
If historical patterns hold, Bitcoin’s price will likely surpass the $30,000 mark amid a fresh bullish outlook. Notably, Bitcoin is gradually distancing itself from the support level of around $25,000 it has held for the past few months. A critical support level is expected to come into play in the event of a sudden market correction.
Despite the optimism, it’s worth noting that Bitcoin’s price opened the week with a noticeable gap on the Chicago Mercantile Exchange (CME) on Monday. Such gaps typically get filled over time, as markets tend not to forget. Traders and investors are advised to remain cautious in this dynamic environment.
SOL Price Analysis: Solana Eyes $30 With Bullish Setups!
With an almost 35% increase in market value, Solana remains a notable coin in the gainers list of cryptocurrencies. Maintaining a year-to-date growth of 142%, the SOL price brings new bullish setups and entry opportunities as the market recovers.
With golden crossover and breakout possibilities, the Solana coin price can soon surpass the overhead barrier at $30. Therefore, the Solana Price Prediction for the upcoming year seems bullish.
Forming a bottom slightly below $18, the SOL price taps into a demand boost, leading to the falling channel breakout. The breakout rally exceeds the 50 and 200-day EMA within days and increases the golden crossover possibility.
With the falling channel breakout gaining momentum, Solana’s price action forms five multiple bullish candles. Accounting for a 26% jump, the uptrend reclaims the $24 mark and hints at a rounding bottom formation.
Currently, the SOL price trades at $24.64 with an intraday gain of 3.23%, the uptrend closes in on the rounding bottom neckline at $25.50.
With the overall market in recovery mode and the altcoins ready to reclaim previous levels, Solana has a high chance of prolonging the uptrend.
Technical Indicators:
MACD indicator: The MACD and signal lines continue the uptrend positively by avoiding another crossover event. The lines cross above the zero line, and the histograms are rising higher.
RSI indicator: The RSI line takes off from the halfway line to enter the overbought zone, signaling a highly bullish phase.
Will the SOL Price Reach $30 This Week?
With increased trend momentum and bullish pressure, Solana shows high incoming demand. Moreover, the bullish setups rising for the altcoin can prolong the positive trend. Therefore, the SOL price may soon jump from the $24 mark to reach the overhead mark of $30.
On the opposite end, the Solana price may struggle to rise above the neckline at $25.5 and take a short pullback.
BTC Price Analysis: Bitcoin Starts Uptober With A Boom!
With the start of October, the Bitcoin price trend enters the bullish highway, putting the altcoin market into a fresh recovery phase. The BTC price jumps by 3.82%, forming a large candle and acting as the bullish sigil of a new uptrend.
Fueling the October uptrend in Bitcoin, the short-term resistance trendline breakout remains a pivotal point. And the recent comeback puts the Bitcoin price prediction on the bullish side.
Breaking the streak of lower high formations, the BTC price trend overcomes the supply pressure at the trendline. Following the retest with a red Doji candle, the Bitcoin price shoots up with the start of the new month.
Furthermore, the recent price jump gives the inverted head and shoulder breakout. With the neckline around the $27K barrier, the cryptocurrency is heading on a positive path with the breakout rally.
Currently, the BTC price trades at $28,069 with an intraday hike of 0.26%, reflecting the buyers planning to continue the trajectory. With the bullish sentiments on the rise, the Bitcoin price trend will continue and help the overall market recover.
Moreover, with the Bitcoin spot ETF decisions by the SEC approaching closer, the sentiments are extremely high. Therefore, high price movements in Bitcoin are possible in the coming weeks.
Technical indicators:
Relative Strength Index: With the sudden BTC price jump, the daily RSI line spikes closer to the overbought boundary. It signals a solid underlying bullishness ready for a big move.
MACD: The MACD and signal lines cross into the positive side, with the rising histograms reflecting a strong, bullish side.
EMA: The price jump lowers the possibility of the death cross gaining a bearish gap and hints at a potential reversal to regain positive alignment.
Where is the Bitcoin (BTC) Price Heading?
With the market sentiments improving and the momentum rising in October, BTC price may soon cross the $30K mark. Rising significantly above the EMAs and teasing a trendline reversal, entering Bitcoin below $30K can be a good idea for many. Even better, if the SEC approves the Bitcoin ETF, the price could skyrocket to $35,000.
On the bottom side, a reversal to $26,274 can plunge Bitcoin to $25,600 or $24,900 in a worst-case situation.
Ripple News: Analyst Predicts XRP Price Could Break All-Time High Record Soon
Over the past 24 hours, Ripple (XRP) Price has shown a 2.5% price increase, making it one of the stronger performers. In seven days, XRP has risen by 1.83%. However, short-term price prospects remain uncertain. Despite this uncertainty, there is growing optimism about XRP’s future, driven by its recent legal victory.
In his X post, Matthew Dixon, CEO of crypto valuation platform Evai, shared his belief that an XRP bull run is possible based on insights from market analysts. However, he advises cautious short-term trading and closely watching key resistance levels before committing to a long-term investment strategy.
But what is adding to this bullish theory, especially since post-Ripple abandoned a 15M deal and moved 75M for XRP asset redistribution? Let’s take a look.
Analyst Paints a Bullish Scenario for XRP Pump
Dixon noted that XRP’s recent legal triumph, where a US District Judge ruled in its favor, has catalyzed its bullish trend. The judgment clarified that certain XRP sales do not qualify as securities. As the crypto community closely watches XRP’s performance, whether it can sustain its positive momentum remains. Dixon notes the need for XRP to convincingly breach key resistance levels before committing to a long-term investment strategy.
While others see Ripple’s planned exit from Fortress Trust in September as a positive trigger for the XRP price, ripple will continue to support Fortress Trust as an investor. This decision may be related to the SEC case’s high legal costs of $200M, allowing Ripple to reallocate resources. XRP’s price has seen recent gains, possibly influenced by this development and concerns raised during a hearing involving SEC Commissioner Gary Gensler.
XRP Price -Take it with a Grain of Salt!
Despite the positive shift in market sentiment, Dixon remains cautious. Given the volatility and regulatory uncertainties in the crypto market, he advises a measured approach. While some analysts project substantial gains for XRP, predicting prices as high as $250, Dixon stresses the importance of vigilance. He intends to monitor XRP’s performance closely and will consider becoming a long-term investor if the bullish trend persists.
This makes sense, as after breaking out of the falling channel, XRP faced resistance at the 200-day EMA. However, the price retraced to retest the channel breakout, gaining bullish momentum afterward. Currently, the XRP price trades at $0.5162 with an intraday fall of 1.05%, reflecting a minor pullback as bears get active at the EMA.
A Short-Term Overhal, Long-Term Potential
Dixon, while staying cautious, favors short-term positions with close stop losses until overhead resistance is definitively breached. If this occurs, he is willing to adopt a long-term investment perspective, provided the conditions for a sustained bull run remain robust. Do you agree with his sentiments? Tell us.
Bitcoin Price Prediction : Here’s When BTC Price Will Hit ATH
Bitcoin enthusiasts eagerly await the next Bitcoin halving, scheduled for April 2024, as it is often seen as a significant catalyst for the cryptocurrency. However, analyst Rekt Capital has raised intriguing interest in Bitcoin’s historical patterns.
Over the past few years, Bitcoin has taken anywhere from 518 to 546 days to peak after a halving event. Bitcoin could peak in either mid-September or mid-October 2025 if history repeats itself. Notably, October has historically been a strong month for Bitcoin.
He wrote on X, “Over the past several years, it has taken Bitcoin 518-546 days to top out after its Halving. If history repeats, Bitcoin could top in either mid-September 2025 or mid-October 2025.”
Rekt Capital draws attention to the similarities between the current year, 2023, and 2019 in terms of Bitcoin’s performance. In October 2019, Bitcoin saw a modest 10% rally. If Bitcoin replicates this performance in October 2023, its price could revisit the $29,200 mark.
In this scenario, Bitcoin might form an extended upward wick beyond the lower high resistance level before potentially retracing, confirming the current move as a relief rally. Rekt Capital notes that Bitcoin is 210 days away from its halving event. In the 2019 cycle, Bitcoin formed a lower high (purple) at this point, followed by a 147-day period in which it crashed by 62% to reach a macro higher low.
If a similar pattern unfolds in this cycle, Bitcoin could form another lower high soon, leading to a 27% price drop into its macro higher low (blue circle) by mid-February 2024. This would potentially place Bitcoin’s price at around $20,300.
Brian Armstrong’s 2024 Bitcoin Price Prediction: Get Ready for the Next Crypto Bull Run
Brian Armstrong, the CEO and founder of Coinbase, a pioneering public cryptocurrency exchange in the U.S., recently shared his insights on the future trajectory of cryptocurrency. Having weathered the storms of U.S. regulation and watched the digital currency space evolve, Armstrong’s take on what lies ahead is both fascinating and important for us crypto enthusiasts.
From the Internet to Crypto
Drawing a parallel between the internet’s early days and the current state of crypto, Armstrong reflected on how initial skepticism and distrust of new technology often transition to widespread acceptance. The internet, once perceived as an odd, alternative platform, has now overshadowed traditional media forms.
Similarly, while early crypto enthusiasts might have been seen as outsiders or high-risk takers, the field is gradually pulling in a more diverse crowd. It’s not just about the technology anymore but its broader applications, from the art world to remittances and beyond.
Battles With The Regulators
Armstrong is no stranger to regulatory skirmishes, especially with the Securities and Exchange Commission (SEC). But with recent legal victories suggesting a favorable tide for crypto, there’s optimism in the air. During the All In Summit, Armstrong touched on the vital theme of crypto regulation and his vision for the industry’s path forward.
Though advocating for innovation, Armstrong doesn’t shy away from the necessity of regulatory frameworks. Drawing from traditional financial industry practices, he believes in establishing essential rules that promote both safety and innovation. While centralized crypto entities should follow strict guidelines, decentralized platforms, he feels, should be treated more similarly to software entities.
While Armstrong extensively discussed the current state of cryptocurrency, he dropped hints about what the future holds. Predicting the next wave of crypto popularity and adoption, Armstrong suggests that a range of emerging use cases are paving the way for another significant bull run in the market during the first half of 2024. His reason is as the crypto industry matures and evolves, these triggers will catalyze a surge, bringing in a new wave of investors, innovations, and opportunities.
Bitcoin Price Prediction For October: Will October’s Historical Bull Run Skyrocket BTC Price?
In September, Bitcoin experienced a significant bearish trend, only to rebound slightly to $27K as the month ended. Yet, October promises increased excitement with several major events on the edge, including the SEC’s verdict on Grayscale and multiple spot ETF launches. Consequently, we might see intense price fluctuations for BTC, potentially tilting in favor of the buyers.
October Has Historically Been Bullish For Bitcoin
The Securities and Exchange Commission has been delaying its verdict on a spot bitcoin ETF, but October could provide the much-anticipated clarity for fund issuers and the crypto sector.
The regulatory body faces a decision on whether to challenge its August courtroom setback in a lawsuit involving Grayscale Investments. Additionally, we might witness the launch of the first ETFs containing ether futures in the upcoming month. As a result, there can be a buying demand for Bitcoin next month.
Drawing insights from Coinglass data, Bitcoin’s performance in October has been predominantly bullish since its inception. Starting from 2013, the month of October has consistently witnessed a surge in Bitcoin’s price, with only two exceptions in 2014 and 2018.
Diving deeper into the numbers, Bitcoin has not only seen positive returns but has managed to yield an impressive average return of over 20% during this month. Hence, from this historical data and the average return rate, there’s a compelling case to be made for Bitcoin’s price trajectory in the upcoming October. If the trend holds true and the crypto market remains favorable, we could very well witness Bitcoin’s price soaring to an approximate value of $32,400.
While historical data provides valuable insights, the crypto market is known for its volatility, and external factors can influence price movements. Hence, it is advised to do your own research before investing in Bitcoin.
What’s Next For BTC Price?
After several days of challenges, Bitcoin surged past the moving averages recently. Currently, the bulls are working to prevent the bears from pulling the price below the 20-day exponential moving average, priced at $26,840. As of writing, BTC price is trading at $27,022, surging over 0.5% from yesterday’s rate.
There’s a rising bullish crossover in the moving averages, and with the relative strength index (RSI) showing positive signs, it suggests an upward momentum. A slight resistance is predicted at $27,500, but it’s expected to be surpassed.
The BTC price might then approach the next resistance at $28,201, and if successful, it might head toward $30,108, where a significant tug-of-war between the bulls and bears is anticipated.
On the flip side, the $26,000 mark is crucial. If breached, the bears might gain advantage. This could potentially lead the price to plummet towards the strong support level of $24,845.
MATIC Price Analysis: MATIC Breaks Trendline, Hints 30% Hike!
Taking a deep hit in the correction phase of 2023, the MATIC price fails to find a solid support level in summer. The downtrend movement leads to a death cross and a falling channel pattern for the altcoin. Accounting for a drop of more than
However, the recent footing at $0.49 teases a potential reversal and breaches the overhead resistance trendline by a small margin. If the prices manage to sustain above the trendline, then the Polygon price prediction will turn bullish for the rest of 2023.
Trending close to the resistance trendline for the past few weeks, the struggling selling pressure was evident in the recent correction. With MATIC price facing constant rejections from the 50-day EMA, the lower low formations were less drastic than before.
The Polygon price now forms a bullish reversal pattern by finding a strong support at $0.49, slightly below the psychological mark. With a double bottom pattern ready to reverse the trend, the recent price spike fractures the resistance trendline.
Moreover, the Polygon price action displays a falling wedge pattern breakout in the short-term price trend. Currently, the MATIC price trades at $0.52, the altcoin has jumped by 5.23% in the last two days to form a morning star pattern.
Technical indicators:
MACD indicator: The MACD and signal lines have avoided a negative crossover, which is a bullish sign, following the recent spike in MATIC price. Additionally, the resurfacing bullish histograms add to the possibility of a bullish breakout.
RSI indicator: The daily RSI line remains above the 14-day SMA but struggles to break above the halfway mark. Additionally, a bullish divergence is forming in the daily RSI.
Will MATIC Price Sustain Above $0.50?
If the ongoing trend sustains above the broken trendline, then the MATIC price will spike higher to surpass the 50-day EMA. Moreover, the recent price pattern breakouts support the thesis of a prolonged uptrend. The upcoming resistance levels for the Polygon price are at the $0.59 and the $0.71 mark.
On the flip side, the downtrend will cross under the $0.49 mark to test bullish dominance at $0.42.
Shiba Inu Price Prediction: If History Repeats, SHIB Price Prepping Up for 422% Rally in October
Shiba Inu (SHIB) has been a subject of great interest in the crypto community, particularly in its performance in October. Over time, SHIB has grappled with a critical psychological barrier at the $0.00008 price level. This resistance has proven quite formidable, repeatedly halting its attempts to surpass it.
SHIB Price Poised For Massive Rally in October?
As October nears, the market may open its doors to more bull rallies. The data provided by the CryptoRank transpires this. Experts say historical data never lies, and deep down, there is an exciting trend for Shiba Inu (SHIB) that worked for the coin in the past. Previous parameters have seen notable price movements for SHIB and the broader crypto market in October. In October 2021, SHIB surged an astonishing 822%, reaching an all-time high of $0.00008845.
Even in October 2022, it gained 10.4% despite a slight dip the previous month. For those speculating on Shiba Inu’s potential price pump, it’s worth noting that if the cryptocurrency follows its average October increase of 422% from its current price of $0.00000735, it could reach a price point of $0.00003101. Since the coin had failed multiple attempts to break out of the consolidated range, the breakout happened for a very short period, following which the bears pulled back again, resulting in the coin trading sideways.
However, it’s crucial to remember that past performance doesn’t guarantee future results, especially in the unpredictable crypto world. So, while these projections are intriguing, it’s wise to be cautious and not rely solely on them for investment decisions. Always be mindful of potential risks.
So, what developments are Pumping this Huge Rally?
Notably, a long-dormant Shiba Inu ($SHIB) whale recently became active after a year. This came to light when Shiba Inu ($SHIB) expressed plans to renounce the $BONE smart contract. Renouncing $BONE is essential for potential listing on major exchanges, and the community is urging the Shiba Inu team to take this step.
Another significant event is that HSBC added it to its payment system with XRP. On-chain Shiba Inu activity is also raising investor interest. After Shibaruim tethered Shiba’s adoption hype, ShibariumID’s domain name service will launch in late October. It will be interesting to see if this digital authentication system can cause a Shiba Inu token price boom or if it will be a nosedive fall.
Over the past two weeks, Shiba Inu has traded in a descending wedge between $0.000000712 and $0.00000742, suggesting extensive price activity.
Will SOL Price Jump To $22 This Week?
The market has experienced a jump in its value by over 1.5% within a day. The jump shows relief in the market as cryptocurrencies stabilize their value. Solana has turned out to be the best performer of the top 10 coins, gaining over 5% from the past day.
The Solana coin has been trading below the resistance zone for over a month and failed multiple breakout attempts. The coin had recently made another attempt, but the bulls and bears are fighting hard to gain power.
Following the massive price volatility the coin experienced this month, SOL price has managed to level its price and continue to trade around the month’s start levels.
The RSI average was trading below the mid-point for over a week, following which the price has displayed a sharp rise in its value recently, indicating a significant buying and selling power. Further, the averages were rejected on the overbought range, indicating a price uncertainty.
On the other hand, the MACD levels display a rising histogram in its charts, indicating a massive price action for the coin. Moreover, the charts display a bullish convergence, indicating that the price will increase further in the coming days.
If the market gains momentum and the Solana price manages to break out of the resistance zone, then the coin will gain bullish movement, and the price will continue to rise. If the bulls hold the price above $20.58, then the Solana coin will continue to rise and test its resistance level of $22 by the weekend.
On the contrary, if the bears come into power, then the SOL coin will lose its momentum and experience a dip in its value. Moreover, if the coin fails to hold the support level of $19.61, then the price is bound to test its lower support level of $18.65 soon.
Ethereum’s Options Data Remains Bullish Despite Profit-Booking! Here’s The Next ETH Price Level
Ethereum price has been making a notable surge over the last three days as buyers made a surge in demand near the dip of $1,600. As a result, ETH’s price broke above multiple resistance levels in just a few hours and is now aiming to reach its much-anticipated bullish goal of $2K. Amid this, the ETH price is showing minor profit-booking among short-term traders, creating a change in mood near the resistance level.
Ethereum Flashes Bullish Option Data
Based on information from Coinglass, Ethereum’s Open Interest (OI) has seen a significant increase today, rising by $230 million. This indicates a growing interest among traders in ETH due to its price volatility, strengthening its current price movements below $1,700.
Additionally, there has been a large short liquidation for ETH in the past 24 hours, with over $21 million in short positions being liquidated. This has further weakened ETH’s immediate support levels, leading to increased buying interest at its current price point.
Deribit’s options data for 30 September presents a positive outlook. The data reveals a significant increase in call options within the $1,675-$1,700 bracket. Furthermore, a put/call ratio of 0.69 suggests that bullish traders are actively preparing for a potential rise to $1,700.
The total open interest is recorded at 18,402, carrying a notional value of $30.1 million. Should Ethereum maintain its position around the “max pain” price of $1,650, we might see further upward movement in the upcoming hours. A look at the 24-hour trading analysis indicates that call holders are in a dominant position, hinting at a bullish momentum.
In the last 24 hours, 33.5% of the positions were call options, whereas put options made up nearly half of that, standing at 18.9%. This data brings a buying sentiment among traders and major investors, especially as Ethereum’s price holds below the $1,700 mark.
What’s Next For ETH Price?
Ether seems to be on the path to recovery as buyers are registering massive gains on the price chart. However, ETH price is struggling to hold these gains as sellers create pressure near $1,687. As of writing, ETH price trades at $1,671, surging over 1.3% from yesterday’s rate.
The RSI indicator has surged toward the overbought region, holding concerns of a downward correction for Ethereum from its resistance levels. If buyers can hold the price above the 20-day EMA, the ETH price might initially target the $1,750 resistance level. A breakout and closure above $1,750 will send the ETH price to test its resistance at $1,880.
On the flip side, if the price drops below the 20-day EMA, it implies that the bears have the upper hand. In such a scenario, sellers might attempt to pull the price down past the crucial support level of $1,530. If this occurs, the price could plummet to $1,470.
LINK Price Prediction : Chainlink Poised for a Massive Rally, Analyst Maps High Levels
After a period of volatility earlier in the month, Chainlink (LINK) has shown bullish momentum, emerging as a top performer in the crypto market over the past week. The coin is currently trading within an upward channel and has recently experienced a golden cross, hinting at potential value appreciation in the near future.
However, a glance at the Relative Strength Index (RSI) builds a possibility of red candlesticks or sideways movement in the coming days. The RSI is nearing the overbought zone above 70.0, which typically leads to corrections as the market cools down after a period of overheating.
At present, LINK is trading above the $6.50 level and the 100 simple moving average on the 4-hour chart. Additionally, if the bulls gain power and ignite bullish momentum, the price is predicted to break out of the rising channel and test its resistance level of $7.25. If there’s an upward push, resistance may be encountered near $7.45, followed by significant levels at $7.50, $8.00, and $8.20. The next major hurdle is anticipated around $8.50, with a potential test at $8.80 following a breakthrough.
Here’s are the target’s revealed by analyst.
Analyst Predict Short-term Bullish Trend
Crypto analyst Kevin Svenson suggests that Chainlink (LINK) could be on the cusp of a breakout rally. He points out that LINK recently surpassed the 500-day Simple Moving Average (SMA), a significant long-term indicator. Is it a potential sign of a broader shift in the cryptocurrency’s trajectory? Giving his nod, Svenson anticipates a short-term bullish trend, possibly rallying towards the macro resistance level.
Moreover, looking at the RSI indicator he cautions that LINK might require more time before entering a full-fledged bullish phase. He highlights a resistance line at around $10.90, suggesting a range of interest between $10.13 and $11. In the event of a breakout, a retest of lower levels may occur before a sustained upward move. Currently, LINK is valued at $7.60, marking a 2% decrease in the past 24 hours.
On the other hand, it appears that the price is currently waiting to reflect the decision of the Federal Reserve, crypto legislations, economic turbulences, and more!
Will BNB Price Bounce Back Soon?
The crypto industry is on track to stabilize the market, but on the other hand, the top coins continue to hover around their support levels as the top 10 coins are currently trading in the red.
The BNB coin has been experiencing massive price volatility since the start of the month. Following the dip, the Binance coin price has been moving sideways with minor price movement.
The BNB coin has been trading in a descending channel since the start of September. The bulls have failed multiple attempts to break out of the trend as the market could not gain momentum. Further, the price displays a possibility of a golden cross soon, indicating a massive price action in the coming days.
The RSI had been trading under the mid-point for a while, following which the averages quickly surged and crossed the levels. Further, the averages are currently hovering close to their mid-point, indicating a weak buying and selling power.
On the other hand, the MACD has been displaying a constant flatline in its charts, indicating uncertainty in its price action. Moreover, the chart displays a bearish convergence in its levels, indicating a trend reversal possibility.
Will The BNB Coin Regain Price?
If the bulls gain power and break out of the resistance level, then the price will experience a bullish sentiment. If the price manages to hold itself above the level, then the price will continue to surge and test its resistance level of $220 soon.
On the contrary, if the bears overpower the bulls and a trend reversal occurs, the price will lose momentum, resulting in BNB losing its value. Further, if the Binance coin price fails to hold its value above the support level, then the price will continue to fall and test its support level of $203.