Bitcoin is consolidating at the top of its range, boosting traders’ confidence in altcoins.
US 10-year Treasury yields have reached their highest level since 2007, raising concerns of a recession.
Institutional investors are showing increasing interest in cryptocurrencies, with inflows of $21 million into digital asset investment products.
Bitcoin’s price is currently facing resistance at $28,143, but a close above this level could signal a short-term double bottom pattern with a target objective of $31,486.
Ether turned down sharply from the overhead resistance of $1,746, but if it can rebound from current levels, it may attempt to overcome the obstacle and reach $1,961.
BNB failed to sustain a breakout above the $220 resistance, indicating bearish sentiment. It may fall to the uptrend line before attempting another push above $220.
XRP broke out of a symmetrical triangle pattern and is now attempting to surmount the overhead resistance at $0.56. A successful break above this level could start a new uptrend.
Solana has formed a potential inverse head and shoulders pattern within its range. If the price breaks above the neckline, it could rally to $27.12 and eventually reach the pattern target of $32.81.
Cardano turned down from $0.27 and is currently testing the 20-day EMA. A rebound from this level could indicate a change in sentiment and a push towards $0.29 and $0.32.
Dogecoin is facing strong selling pressure and has reached a formidable support level at $0.06. A break below this level could lead to a drop to $0.055.
Toncoin fell below the 20-day EMA and is now testing the 50-day SMA. A rebound from this level could signal bullish sentiment, while a rejection could lead to a drop below the 50-day SMA.
Polkadot turned down from the 50-day SMA and broke below the 20-day EMA. However, strong buying at lower levels suggests a potential recovery. A break above the 20-day EMA could keep the price range-bound.
Polygon bounced on Oct. 4, indicating buyers’ attempt to take charge. If the price can break above the overhead resistance at $0.60, it may start a sustained recovery towards $0.70.
– Bitcoin is consolidating at the top of its range, inspiring confidence in altcoins.
– US 10-year Treasury yields have reached their highest level since 2007, raising concerns of a recession.
– Institutional investors are showing interest in cryptocurrencies, with inflows of $21 million into digital asset investment products.
– Bitcoin’s price is facing resistance at $28,143, but a close above this level could signal a short-term double bottom pattern.
– Ether turned down sharply from resistance at $1,746, but a rebound could lead to a push towards $1,961.
– BNB failed to sustain a breakout above $220, indicating bearish sentiment.
– XRP broke out of a symmetrical triangle pattern and is attempting to surmount resistance at $0.56.
– Solana has formed a potential inverse head and shoulders pattern within its range.
– Cardano turned down from $0.27 and is testing the 20-day EMA.
– Dogecoin is facing strong selling pressure and has reached a formidable support level at $0.06.
– Toncoin fell below the 20-day EMA and is testing the 50-day SMA.
– Polkadot turned down from the 50-day SMA but saw strong buying at lower levels.
– Polygon bounced on Oct. 4, indicating buyers’ attempt to take charge.
