Following the recent breakdown, Bitcoin (BTC) has found support above the $61,000 price level. The cryptocurrency has been consolidating above the current support for the past four days. Bitcoin will resume upward if the current support holds. Ripple and the other three altcoins above are preparing to resume upward as the cryptos trade in the bullish trend zones.
BTC/USD Major Trend: Bullish
Bitcoin’s (BTC) price has regained bullish momentum as it trades above the 21-day moving averages. BTC price is rising and has reached a high of $62,350. The bulls are approaching the initial resistance at $63,000. In the previous price action, buyers were resisted at the $63,000 and the $64,000 highs. To resume upside momentum, the bulls will have to clear the resistance levels of $63,000 and $64,000. According to the Relative Strength Index, BTC’s price is at level 59. That is, it has room to rally on the upside.
On the other hand, the king coin is above 80% range of the daily stochastic. The market has reached the overbought region. Meanwhile, on October 28 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that BTC price will rise to level 1.618 Fibonacci extension or level $65,005.40.
XRP/USD Major Trend: Bullish
Ripple’s (XRP) price is rising and approaching the bullish trend zone. Since October 10, the uptrend has been stuck at the $1.20 high. The bears have pushed XRP price to the low of $0.94 as bulls bought the dips.
Today, XRP is attempting to return to the bullish trend zone. The cryptocurrency is approaching the resistance at $1.20. A break above the resistance will push the altcoin on the upside. However, the upward move is doubtful as the crypto approaches the overbought region. Meanwhile, on October 29 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that XRP price will rise to level 1.618 Fibonacci extension or level $1.15.
DOT/USD Major Trend: Bullish
Polkadot’s (DOT) price has been trading in the bullish trend zone but the uptrend is facing resistance at the $44 high. This week the cryptocurrency is likely to fall as XRP faces rejection.
The daily stochastic has indicated that Ripple is below the 80% range of the daily stochastic. That is, the market is in a bearish momentum. Meanwhile, on October 30 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOT price will fall to level 1.618 Fibonacci extension or level $41.29.
LTC /USD Major Trend: Bullish
On October 20, Litecoin’s (LTC) price rallied to the high of $210. The uptrend was interrupted at the recent high as the market declined to $190 support.
If buyers have broken the recent high, the crypto would have revisited the previous peak price of $230. Nonetheless, the cryptocurrency is consolidating above the current support for a possible upward move. Meanwhile, on October 29 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Litecoin is likely to rise to level 1.618 Fibonacci extension or level $210.59.
LINK /USD Major Trend: Bullish
Today, Chainlink’s (LINK) price is trading above the 21-day line moving average after buyers fail to keep the price above the $34 high. Today, the cryptocurrency has fallen to the low of $30 but faces rejection at $34.
Buyers intend to reach the previous peak price of $36. Nevertheless, Chainlink’s price is fluctuating above the moving averages. A break above the $34 high will propel the altcoin to rally above $36. Meanwhile, on October 28 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that LINK is likely to rise to level 2.618 Fibonacci extension or level $47.80.
