BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Buyers pushed Bitcoin (BTC) above the short-term resistance of $68,500 on October 18, signaling the resumption of the upward move. The rally of the past few days has been backed by solid buying. United States-based Bitcoin exchange-traded funds have seen sharp inflows of $2.1 billion over the past five trading days, according to Farside Investors data. That pushed total net inflows to more than $20 billion, according to Bloomberg senior ETF analyst Eric Balchunas.

However, there is no consensus among analysts on Bitcoin’s short-term price action. Some believe that the rising open interest on Bitcoin futures is a cause for concern as it could result in a sharp pullback. On the other hand, Coinglass said that the increase in open interest “indicates a significant price movement going forward.”

As Bitcoin’s price nears an all-time high, traders can take a cautious approach. Bitcoin has been in a sideways price action for several months, so bears are likely to sell aggressively as the price approaches the resistance of the range.

If the price stays in the upper half of the $54,000 to $73,777 range, sentiment could improve, favoring the altcoins. Let’s analyze the charts of the top 10 cryptocurrencies to spot the crucial support and resistance levels.

Bitcoin price analysis

After a minor pullback on October 17, Bitcoin bulls reasserted their supremacy by pushing the price above $68,500 on October 18.

The BTC/USDT pair is likely to reach $70,000 and then $72,000. Sellers are expected to fiercely defend this zone, but if the bulls prevail, the pair could rise to a high of $73,777. This level is expected to act as a formidable barrier again.

Any pullback is likely to find support at the 20-day exponential moving average ($64,268). Sellers will need to pull the price below the 20-day EMA to weaken the bullish momentum. The short-term trend will turn bearish on a break below $60,000.

Ether price analysis

Ether (ETH) has been trading near the triangle’s resistance line for the past five days, indicating that the bulls are maintaining their pressure.

If buyers push the price above the triangle, the ETH/USDT pair could rise to $2,850. This level can act as a resistance, but on the way down, if the price recovers from the 20-day EMA ($2,523), it will suggest a change in trend. The pair could then attempt a rally to $3,400.

This bullish view will be invalidated in the near term if the price falls and breaks below the moving averages. Such a move would suggest that the pair could remain within the triangle for a few more days.

BNB price analysis

BNB (BNB) is steadily climbing towards the $635 overhead resistance, where the bears are likely to enter.

The gradually rising moving averages and the relative strength index (RSI) in the positive territory give a slight edge to the buyers. If bulls pierce the $635 resistance, the BNB/USDT pair could rise to $722 and then to $810.

Conversely, if the price drops sharply from the current level or the overhead resistance and breaks below the moving averages, it will indicate that the pair may spend some more time within the $460 to $635 range.

Solana price analysis

Solana (SOL) is trying to find support at the 20-day EMA ($148), indicating that the bulls are viewing the dips as a buying opportunity.

The bulls will make another attempt to push the price above the $164 overhead resistance. If they succeed, the SOL/USDT pair will complete an ascending triangle pattern. This bullish setup could start a rally to $189.

The 20-day EMA is the immediate support, and below it the uptrend line. Sellers will need to pull the price below the uptrend line to invalidate the bullish pattern. The pair could then drop to $127.

XRP price analysis

Buyers pushed XRP (XRP) above the moving averages on October 17, but failed to sustain the higher levels.

The uptrend line is the nearby support to watch. If the price breaks below the uptrend line, it will indicate that the bulls have given up. The pair could then fall to the critical support at $0.50.

On the contrary, if the price turns from the current level or returns from the uptrend line, it will suggest that the bulls are buying on dips. This would increase the probability of a break above the 50-day simple moving average ($0.56). The XRP/USDT pair may then attempt a rally to $0.64.

Dogecoin price analysis

Dogecoin (DOGE) rose above the symmetrical triangle pattern on October 18, indicating that the bulls have overwhelmed the bears.

If the price holds above the triangle, the DOGE/USDT pair could rise to $0.17 and then to the pattern target of $0.19.

Contrary to this assumption, if the price turns down and re-enters the triangle, it will indicate that the markets have rejected the breakout. The pair may fall to the 20-day EMA, an important short-term support to watch out for. If the price rebounds from the 20-day EMA, the bulls will again try to start the upward movement.

Toncoin price analysis

Buyers are finding it difficult to push Toncoin (TON) above the moving averages, but a slight positive is that the bulls have not ceded ground to the bears.

This improves the prospects of a rally above the moving averages. If this happens, the TON/USDT pair could rise to $6, where the bears could once again mount a strong defense. However, if buyers push their way through, the pair could rise to $7.

On the downside, if the $5 level does not hold, the pair could drop to the $4.72 to $4.44 support zone. Buyers are expected to protect this zone with all their might, as a break below it will complete a bearish head and shoulders pattern. The pair could then drop to $3.50.

Related: Dogwifhat Price Makes a Comeback as WIF Price Rises 76% in 30 Days – What’s Next?

Cardano price analysis

Cardano (ADA) has been trading in a tight range between $0.33 and $0.37 for the past few days, indicating indecision between the bulls and the bears.

If the $0.33 support is cracked, the ADA/USDT pair may retest the crucial support at $0.31. The bulls are expected to defend this level vigorously, but if the bears prevail, the pair could slide to $0.27.

Conversely, if the price rises from the current level and breaks above $0.37, it would suggest that the bulls are attempting a comeback. The pair could then rise to $0.40. This level could be a solid barrier, but if the bulls overcome it, the pair could rise to $0.45.

Avalanche price analysis

Avalanche (AVAX) bounced off the resistance line of the symmetrical triangle pattern on October 14, but the bulls are trying to defend the 20-day EMA ($27.30).

If the price bounces back from the 20-day EMA with strength, the bulls will again try to push the AVAX/USDT pair above the resistance line. If they can pull it off, the pair could rise to $37 and then to $42.

Alternatively, if the price breaks below the 20-day EMA, the bears will try to sink the pair to the support line. A break and close below the triangle would open the doors for a possible drop to $17.

Shiba Inu price analysis

Shiba Inu (SHIB) is trading just below the $0.000020 overhead resistance, indicating that the bulls have maintained their pressure.

The 20-day EMA ($0.000017) is slanting upwards, and the RSI is in the positive territory, indicating the possibility of a breakout. If the price closes above $0.000020, the SHIB/USDT pair will complete an inverse H&S pattern. This reversal setup has a target objective of $0.000028.

If bears want to prevent the upside, they will need to quickly pull the price below the 20-day EMA. If they do, the pair could drop to the 50-day SMA ($0.000015), extending its stay within the $0.000012 to $0.000020 range.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making a decision.