Price analysis 10/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI

Bitcoin (BTC) has been sustaining above $54,000 for the by few days merely that has non resulted in euphoria amongst investors. Google Trends data shows that Bitcoin search interest has not picked upward in recent days and is nearing ane-year lows. Some analysts believe that this is a sign that only stronger hands are accumulating.

A recent report from CoinShares also showed that institutional investors pumped more $226 million into Bitcoin products in the week ending Oct. 8. The analysis firm estimates that the total assets nether the direction of institutional crypto products have ballooned to $66.7 billion, only 5% below the record striking in May.

*Daily cryptocurrency market performance. Source:* *Coin360*

Data from Glassnode also shows that the Bitcoin wallets of long-term holders contain 13.three one thousand thousand Bitcoin, accounting for 70% of the entire Bitcoin supply. The long-term holders accept non sold their holdings and accept as well added more than 2.37 million Bitcoin to their wallets over the past seven months. Bitcoin purchasing past long-term whales outstrips newly mined coins by 12.vii times, the report added.

Could Bitcoin keep its up-motility or is it time for a few days of consolidation? Let'south written report the charts of the elevation x cryptocurrencies to find out.

BTC/USDT

Bitcoin turned downwards from $57,680 on October. 12 but the long tail on the twenty-four hours's candlestick suggests buying on dips. The bears over again tried to pull the price below the breakout level at $52,920 but the long tail on the solar day's candlestick indicates that bulls are not relenting.

The ascension twenty-day exponential moving average (EMA) ($51,338) and the relative strength index (RSI) in the positive zone indicate an advantage to buyers. If bulls drive the price above $57,839.04, the BTC/USDT pair could rally to $60,000.

This level may deed as a tough resistance but if bulls push the price above it, the pair could retest the all-time high at $64,854. The bullish momentum may choice up if bulls overcome this obstacle.

The breakout level at $52,920 remains the fundamental support to watch on the downside. A interruption below this level and the 20-day EMA will be the showtime sign that bulls may be losing their grip.

ETH/USDT

Ether (ETH) has rebounded off the 20-day EMA ($iii,390) for the past 3 days, indicating that bulls are accumulating on dips. The bulls volition at present try to push the toll to the neckline of the changed head and shoulders (H&S) pattern.

A breakout and close to a higher place the neckline will complete the bullish setup, which has a target objective of $4,657. The gradually rising 20-day EMA and the RSI above 55 indicate a modest reward to the bulls.

Nevertheless, the rally may not be linear every bit the ETH/USDT pair could face stiff resistance at $4,027.88 and later at $4,372.72.

Reverse to this assumption, if the cost turns down from the current level or the neckline and breaks below the moving averages, the ETH/USDT pair could drop to $3,160 and subsequently to the psychological back up at $3,000.

BNB/USDT

Binance Money (BNB) broke and closed below the 20-twenty-four hour period EMA ($417) on Oct. x but the bears could not build on this reward. The bulls dedicated the psychological back up at $400 and pushed the cost back above the 20-day EMA on Oct. 11.

Although bears pulled the cost below $400 on Oct. 12, the movement appears to have been a comport trap because the BNB/USDT pair recovered chop-chop and rebounded to the neckline. The buyers pushed the cost above the neckline on Oct. thirteen.

The bullish changed H&Due south pattern will complete if the pair closes to a higher place the neckline. This setup could showtime an up-move to $519.90 where heavy opposition is expected.

A break and close in a higher place this level could propel the pair to the blueprint target at $554. The bears volition have to pull the price beneath $392.20 to gain the upper hand.

ADA/USDT

Cardano (ADA) broke and closed below the support line of the symmetrical triangle on Oct. 12. This suggests that the uncertainty of the past few days has resolved in favor of the bears.

The bulls will try to push the price back above the twenty-solar day EMA ($2.21) simply if they fail, the ADA/USDT pair could drib to $1.87. This is a critical level to monitor because if information technology breaks down, the decline may extend to $one.63.

The 20-day EMA has started to reject and the RSI has dropped below 44, indicating advantage to bears. This negative perspective will be invalidated if bulls push and sustain the pair higher up the resistance line of the triangle.

XRP/USDT

Ripple (XRP) bounced off the 20-day EMA ($one.06) on October. 12 but the bulls are finding it difficult to sustain the price above the 50-solar day simple moving average ($i.08). This suggests a lack of buyers at college levels.

If bears sink and sustain the price below the 20-day EMA, the XRP/USDT pair could drib to the psychological support at $ane. A break and close beneath this level could intensify selling and sink the pair to $0.85.

Conversely, if the price rises from the current level, the bulls volition brand i more than attempt to button the price above the overhead resistance at $1.24. If they manage to do that, the pair could rally to $1.41.

SOL/USDT

Solana (SOL) broke beneath the 50-day SMA ($144) on Oct. 12 but bears could non capitalize on this weakness. The bulls bought the dip aggressively and pushed the toll back to the twenty-day EMA ($151) on the aforementioned solar day.

The SOL/USDT pair rose modestly above the 20-day EMA today but strong selling past the bears has pulled the cost back to the 50-day SMA. If bears sink and sustain the price below the 50-solar day SMA, the decline could extend to $116.

This negative view will invalidate if the cost turns upwardly from the current level and breaks above the downtrend line. The pair could and then climb to the 61.8% Fibonacci retracement level at $177.fourscore. A break and shut in a higher place this level could pave the mode for a rally to $200.

DOGE/USDT

Dogecoin (DOGE) broke below the 20-day EMA ($0.23) on October. ten and the bulls have non been able to reclaim the level since then. This suggests that bears are putting up a strong defense force at the 20-day EMA.

The DOGE/USDT pair could drop to $0.21 and if this support cracks, the side by side finish could be $0.19. This level has acted as astrong support during the previous two occasions; hence, bulls may again defend information technology with vigor.

Reverse to this supposition, if the cost turns upwards from the current level and rises above the 20-day EMA, the pair could rally to the downtrend line. A break and close higher up this resistance will indicate the possible end of the downward motility.

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DOT/USDT

Polkadot (DOT) bounced off the twenty-day EMA ($33.02) on October. 12, indicating that the sentiment remains positive and traders are ownership on dips. The bulls will now try to push the cost higher up the overhead resistance at $38.77 where bears are expected to mount stiff resistance.

If the price turns down from $38.77, the DOT/USDT pair could again drop to the moving averages. This is an important back up for bulls to defend because a break below the 50-day SMA ($31.37) could open the doors for a reject to $25.fifty.

Alternatively, if the price continues to ascension from the current level and breaks above $38.77, the uptrend could resume. The showtime target on the upside is the all-time loftier at $49.78 and then the blueprint target at $52.04.

LUNA/USDT

Terra protocol's LUNA token dropped to the 50-day SMA ($35.87) on Oct. 12 but the bulls bought this dip as seen from the long tail on the day's candlestick. The buyers tried to button the price back to a higher place the 20-day EMA ($39.15) on Oct. 13 only failed.

The twenty-day EMA has started to pass up and the RSI has slipped below the midpoint, indicating that bulls may be losing their grip. If bears pull and sustain the price below the 50-mean solar day SMA, the LUNA/USDT pair could drib to $32.50.

This level could act equally a strong support but if it cracks, the selling could intensify and the pair may collapse to $25. Alternatively, if the price rebounds off the current level and rises above the 20-24-hour interval EMA, the bulls may button the pair to $45.01.

UNI/USDT

Uniswap (UNI) bounced off the strong support at $22 on Oct. 12 and bulls pushed the price in a higher place the moving averages on Oct. 13. Nonetheless, the long wick on the 24-hour interval'southward candlestick indicates selling at college levels.

The twenty-day EMA ($24.29) is apartment and the RSI is just below the midpoint, indicating a residual between supply and need. A break and shut below $22 could tilt the advantage in favor of bears. The UNI/USDT pair could so drop to $18.

Conversely, if the price rises from the current level and breaks higher up the neckline of the inverted H&South pattern, the bullish momentum could pick up. The pair could beginning rally to $31.41 and then march toward the pattern target at $36.98.

The views and opinions expressed hither are solely those of the author and practise non necessarily reflect the views of Cointelegraph. Every investment and trading move involves run a risk. You should behave your own enquiry when making a decision.

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