Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 1

Bitcoin (BTC) rose today for the first time since April 18 in a few steps to $ 63,000 and exchange commission. According to those documents, the regulator may be on the verge of filing an application for Valkyrie’s ETF Bitcoin Strategy to list on the Nasdaq.

Analysts pointed out that the price of gold had risen sharply prior to the launch of the first US gold ETF in 2004. After that, the rally continued and gold rose more than 300% since the ETF was approved before making a big high. The similarity between gold and bitcoin as a store of value seems to have sparked great excitement for the launch of a bitcoin ETF.

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 2Daily performance of the cryptocurrency market. Source: Coin360

Traders appear to have been aggressively amassing bitcoin prior to announcing a bitcoin ETF. Open interest in Bitcoin futures on the Chicago Mercantile Exchange hit a new all-time high on October 14, beating the previous high of $ 3.02 billion on April 14.

Could Bitcoin break the all-time high and continue its journey north and will Altcoins join the party as well? Let’s check out the top 10 cryptocurrency charts to find out.

BTC / USDT

Bitcoin formed a doji candlestick pattern on Oct. 14, indicating indecision between the bulls and bears above the $ 58,000 mark. This uncertainty resolved upwards today and the rally has resumed.

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 3BTC / USDT daily chart. Source: TradingView

The 20-day exponential moving average ($ 52,868) is sloping up and the relative strength index (RSI) is in the overbought territory, suggesting that the bulls are in control. However, the all-time high of $ 64,854 could prove to be a difficult hurdle to overcome.

If the BTC / USDT pair turns down from this resistance, the first support to move down will be the 20-day EMA. A strong rebound from this support will suggest sentiment remains positive and traders are buying the dips.

This will increase the possibility of the uptrend resuming with a target of $ 75,000. The first sign of weakness will be a break and close below the 20-day EMA, which could pull it down to the simple 50-day moving average ($ 48,514).

ETH / USDT

Ether (ETH) bounced off the 20-day EMA ($ 3,479) on October 13, breaking the neckline of the inverse head and shoulders (H&S) on October 14. .

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 4ETH / USDT daily chart. Source: TradingView

Both moving averages are sloping up and the RSI has broken above the downtrendline, suggesting that the bulls are back in control. The ETH / USDT pair could now climb to $ 4,027.88 and then retest the all-time high at $ 4,372.72.

Contrary to this assumption, this suggests that bears will continue to sell in rallies if the price deviates from current levels or overhead resistance and breaks below the neckline. The pair could then fall on the moving averages. A break and a close below $ 3,257 suggests the bulls may lose their hold.

BNB / USDT

Binance Coin (BNB) broke and closed above the neckline on October 13, completing an inverse H&S pattern. This bullish setup has a pattern target at $ 554.

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 5BNB / USDT daily chart. Source: TradingView

The bears tried to pull the price back below the breakout level, but the long tail of the daily candle suggests buying at lower levels. The moving averages have made a bullish crossover and the RSI is in positive territory, suggesting that the bulls have the upper hand.

When the price rises from the current level and breaks above $ 518.90, it signals the resumption of the uptrend. The bears need to drag and hold the BNB / USDT pair below the moving averages to weaken the bullish momentum.

ADA / USDT

The cops try to force Cardano (ADA) back into the symmetrical triangle pattern, but the bears don’t give in. You are vigorously defending the support line and the 20-day EMA ($ 2.21).

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 6ADA / USDT daily chart. Source: TradingView

If the price moves down from current levels and falls below $ 2.07, the ADA / USDT pair could fall to $ 2 and near $ 1.87. A break below this key level could drop the pair to the pattern target of $ 1.63

Alternatively, if the bulls push and hold the price above the 20-day EMA, the pair could rise to the resistance line of the triangle. A breakout and close above the triangle could pave the way for a rally to $ 2.47 followed by a move to $ 2.80.

XRP / USDT

XRP has held above the 20-day EMA ($ 1.08) for the past few days, but the bulls have not been able to push the price to the overhead resistance at $ 1.24. This indicates a lack of demand at higher levels.

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 7XRP / USDT daily chart. Source: TradingView

If the price goes down and breaks below the 20-day EMA, the XRP / USDT pair could drop to $ 1. Buyers at this level could again attract buyers, but if they fail to push the price above $ 1.24, bearish momentum could pick up and the decline could deepen to $ 0.85.

Conversely, if the price rises from current levels and breaks above $ 1.24, it signals that selling pressure may ease. The pair could then rise to $ 1.41 and if the bulls break this barrier the next stop could be at $ 1.66.

SOL / USDT

The bears’ failure to bring Solana (SOL) below the 50-day SMA ($ 147) in the past few days suggests an accumulation by the bulls. Buyers are currently trying to keep the price above the downtrend line.

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 8SOL / USDT daily chart. Source: TradingView

If successful, the SOL / USDT pair could rise to the 61.8% Fibonacci retracement level at $ 177.80. This level can act as strong resistance, but if the bulls break this hurdle the pair could rise to $ 200 and then retest the all-time high at $ 216.

The first sign of weakness will be a breakout and close below the 50-day SMA. That could push the price down to $ 116. This is an important level to keep an eye on as a break below it could intensify sales.

DOT / USDT

Polkadot (DOT) skyrocketed to close above the overhead resistance of $ 38.77 on October 13, suggesting that consolidation has reversed in favor of the bulls.

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 9DOT / USDT daily chart. Source: TradingView

The bears attempted to push the price back below $ 38.77 on October 14 and today but failed. This shows that buyers are aggressively defending the breakout level. If the bulls push the price above $ 43.22, the DOT / USDT pair could retest the all-time high at $ 49.78.

If the price turns down from current levels and drops below $ 38.77, the pair could fall to the 20-day EMA ($ 34.84). A strong rebound from this support will suggest sentiment remains positive and traders buy on dips.

Alternatively, the pair could fall to $ 25.50 if bears let the price dip below the moving averages. Such a move suggests that the breakout above $ 38.77 may have been a bull trap.

Related: CFTC beats Tether and Bitfinex with a combined fine of $ 42.5 million

DOGE / USDT

The bulls are struggling to keep Dogecoin (DOGE) above the 20-day EMA ($ 0.23), suggesting the buy is drying up at higher levels. On one small positive, the bulls did not allow the price to stay below $ 0.22.

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 10DOGE / USDT daily chart. Source: TradingView

The 20-day EMA has flattened and the RSI is just above the middle, suggesting a balance between supply and demand. That balance will tilt in the bears’ favor when the $ 0.21 support breaks. This could lead to a drop to $ 0.19.

If the price rises from the current level, the bulls will try to push the price onto the downtrend line. A breakout and close above this level suggest that the decline may be over. The DOGE / USDT pair could rise to $ 0.32 next, and then to $ 0.35.

MOON / USDT

The Terra Protocol’s LUNA token has found support at the 50-day SMA ($ 36.24) for the past three days, but the bulls have not been able to push the price above the 20-day EMA ($ 38.86). This suggests that demand is drying up at higher levels.

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 11LUNA / USDT daily chart. Source: TradingView

The 20-day EMA is falling slightly and the RSI is just below the middle, suggesting a small advantage for bears. A break and close below the 50-day SMA could push the price down to $ 32.50 and if that support breaks the correction could deepen to $ 25.

Conversely, if the bulls push price above the 20-day EMA, the LUNA / USDT pair could gain momentum and advance to $ 45.01 where bears could try again to build stiff resistance. A retest of the all-time high at $ 49.54 is likely if the bulls overcome this obstacle.

UNI / USDT

Uniswap (UNI) rose above the moving averages on October 13th and hit the neckline of the inverse H&S pattern on October 14th. The bears are currently trying to stop the recovery at the cleavage.

Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI 12UNI / USDT daily chart. Source: TradingView

The moving averages are on the verge of a bullish crossover and the RSI has moved into positive territory, suggesting that the bulls have the upper hand. If price rebounds from the moving averages, the bulls will make another attempt to push the UNI / USDT pair above the neckline.

If successful, it will complete the inverse H&S setup and start a possible rally to $ 31.41 and later on the model target at $ 36.98. This bullish view will be invalidated if the price continues to drop below $ 22. The pair could then fall to the strong support at $ 18.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph. Every investment and trading movement carries risks. You should do your own research when making a decision.

Market data is provided by HitBTC Exchange.

#etfapproval #alsobreaking

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