Price analysis 10/18: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI
ProShares Bitcoin Strategy substitution-traded fund (ETF) volition enter the history books on Oct. 19 when it starts trading on the New York Stock Exchange nether the ticker BITO.
Market participants are likely to watch the volumes on the ETF closely to gauge the corporeality of participation from institutional investors. If the response is tepid for a few days, short-term traders may exist tempted to volume profits, but the bullish momentum may pick up further if demand remains strong.
The latest CoinShares report for the week ending October. 17 shows that institutional inflows into crypto products accept pushed the total assets held by institutional managers to a new record loftier of $72.three billion. Of the total inflow of $eighty million during the week, Bitcoin products attracted the king of beasts'south share at $70 meg.
Could the launch of a new ETF boost sentiment and button Bitcoin to a new all-time high or will short-term traders book profits? Is information technology fourth dimension for money to menses out of Bitcoin and into altcoins? Allow'southward study the charts of the acme ten cryptocurrencies to find out.
BTC/USDT
The long tail on Bitcoin's October. 17 candlestick shows strong buying on dips. The bulls attempted to push the cost above the Oct. fifteen loftier at $62,933 on October. 18 but failed. This suggests that bears are defending the zone between $62,933 and $64,854 with vigor.
If sellers sink the toll below $58,963, the BTC/USDT pair could drib to the 20-week exponential moving average (EMA) ($55,118). A strong rebound off this support will indicate that sentiment remains positive and traders are buying on dips.
The bulls volition and so make one more attempt to clear the overhead obstruction. If they succeed, the pair could first the next leg of the uptrend that could achieve $70,000 so $75,000.
If the twenty-24-hour interval EMA support is breached, the pair could drop to the breakout level at $52,920. This is an important support to go on an middle on considering if it cracks, the pair may plummet to the fifty-day simple moving boilerplate (SMA) ($49,270).
ETH/USDT
The bulls successfully defended the neckline of the changed head and shoulders (H&S) pattern on October. 17 simply they could non sustain the rebound. This suggests that demand dries up at higher levels. The bears pulled Ether (ETH) to the neckline of the setup once again on October. eighteen.
A break beneath the neckline could effect in a decline to the twenty-day EMA ($3,563). The rise moving averages and the relative strength index (RSI) in the positive territory point that buyers have the upper manus.
If the price rebounds off the 20-day EMA with strength, it will suggest that traders continue to accrue on dips. The buyers volition and then brand one more endeavor to articulate the overhead hurdle at $four,027.88.
If they manage to do that, the ETH/USDT pair could retest the all-fourth dimension high at $4,372.72. Alternatively, if bears sink the price below the moving averages, the pair could correct to $3,200.
BNB/USDT
Binance Money (BNB) is struggling to take off afterwards completing the changed H&South design on Oct. thirteen but a modest positive is that bulls have not allowed the price to sustain below the neckline of the setup.
The twenty-day EMA ($439) is rising and the RSI is above 64, signaling that the path of to the lowest degree resistance is to the upside. If bulls push the price to a higher place $484.70, the BNB/USDT pair could rise to $518.90.
This level may human action as a strong resistance just if bulls overcome this obstacle, the pair could rally to the pattern target at $554.
Contrary to this supposition, if the price turns downward and breaks below the moving averages, it will suggest that bears are dorsum in the game. The pair could then drop to $392.20.
ADA/USDT
Cardano (ADA) is trading within a symmetrical triangle pattern, which suggests indecision amongst the bulls and the bears about the next directional move.
The xx-day EMA ($ii.20) is sloping down gradually and the RSI has dropped near 43, suggesting a minor advantage to bears. If sellers sink the piece beneath the support line of the triangle, the ADA/USDT pair could drop to $ane.87.
This level could attract strong ownership from the bulls. A breakout and close above the resistance line of the triangle volition indicate that bulls have captivated the supply and made a potent comeback.
The pair could and then rally to $ii.47, which may act every bit a resistance just if the bulls overcome this obstacle, the up-motility may extend to $2.80.
XRP/USDT
Ripple's (XRP) endeavor to rise above the overhead resistance at $1.24 fizzled out at $1.eighteen on Oct. 16. This may take attracted profit-booking past curt-term traders, resulting in a drib below the moving averages on Oct. 17.
The long tail on the day's candlestick shows that bulls are aggressively defending the psychological level at $ane. Both moving averages have flattened out and the RSI is near the midpoint, suggesting a range-bound activity in the curt term.
The XRP/USDT pair could consolidate betwixt $ane and $i.24 for a few days. A break and close above $i.24 could clear the path for a possible up-motility to $i.41 while a drop below $one may pull the pair downward to $0.85.
SOL/USDT
Solana (SOL) has been sustaining above the downtrend line for the past 3 days but the bulls are struggling to outset an up-move. This suggests that bears have not thrown in the towel yet and are selling on rallies.
If bears pull and sustain the price below the 50-twenty-four hours SMA ($151), the SOL/USDT pair could drop to $137.61. A break and close beneath this support could articulate the path for a further decline to the of import level at $116.
Conversely, if the price rebounds off the electric current level and sustains above $167.65, it will suggest that buyers are back in the game. The pair could thereafter rally to the 61.80% Fibonacci retracement level at $177.fourscore.
DOT/USDT
Polkadot (DOT) broke above the $38.77 overhead resistance on October. 13 but the bulls could not capitalize on this strength. This indicates that bears are unwilling to relent and are selling on every ascension.
The first sign of weakness will be a drop and close below the breakout level at $38.77 and the twenty-solar day EMA ($36.64). The DOT/USDT pair could and then drib to the fifty-day SMA ($33.05).
The uptrending 20-solar day EMA and the RSI in the positive zone indicate that the path of least resistance is to the upside.
If the price rebounds off the current level or $38.77 and breaks to a higher place $44.78, information technology will suggest that bulls are back in the game. The pair may and so retest the all-time high at $49.78.
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DOGE/USDT
The bears pulled the price below the 20-twenty-four hours EMA ($0.23) on Oct. 17 but the long tail on the mean solar day's candlestick suggests accumulation at lower levels. Potent buying on Oct. 18 pushed Dogecoin (DOGE) above the downtrend line.
The long wick on Oct. xviii's candlestick shows that bears are defending the downtrend line aggressively. If bulls fail to sustain the price above the downtrend line, the DOGE/USDT pair could once more drop to $0.21.
A bounciness off this potent support could keep the pair stuck between $0.21 and the downtrend line for the next few days.
If buyers sustain the toll above the downtrend line, it will suggest that correction may take ended. The pair may and then rally to $0.32, followed past an up-motion to $0.35.
LUNA/USDT
Terra protocol's LUNA token failed to break above the 20-day EMA ($38.13) in the by few days, suggesting that sentiment has turned negative and bears are selling on rallies.
The bears volition now try to sustain the price below the fifty-24-hour interval SMA ($36.38). The moving averages are on the verge of a bearish crossover, indicating that the tendency favors the bears.
If the toll breaks below $34.86, the LUNA/USDT pair could drop to $32.34. This is an important support to proceed an eye on considering if information technology gives way, the selling could intensify. The pair could then drib to $25.
The bulls will have to push and sustain the price higher up the twenty-day EMA to signal that the correction may be over.
UNI/USDT
Uniswap (UNI) broke and closed higher up the neckline on Oct. xvi but the breakout proved to be a bull trap as bears quickly pulled the price back below the neckline on Oct. 17.
If bears sink the price below the moving averages, the UNI/USDT pair could drop to $22.15. The selling could accelerate if this support is breached and the pair could adjacent drop to $18.
The moving averages are apartment and the RSI is just above the midpoint, suggesting a residue between supply and demand.
This equilibrium could tilt in favor of the bulls if they push and sustain the toll in a higher place the neckline for a couple of days. The pair could thereafter rise to $31.41 and if this resistance is scaled, the rally may attain the pattern target at $36.98.
The views and opinions expressed here are solely those of the writer and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a conclusion.
Marketplace data is provided by HitBTC exchange.
Source: https://cointelegraph.com/news/price-analysis-10-18-btc-eth-bnb-ada-xrp-sol-dot-doge-luna-uni
Posted by: williamsbres1990.blogspot.com
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