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Price analysis 10/20: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

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Bitcoin’s breakout to $67,000 also sent the total crypto market capitalization to a new all-time high and is a signal that altcoins could soon embark on a new uptrend.

Bitcoin (BTC) surged to a new all-time high today, hitting close to $67,000. Ether (ETH) also broke above its immediate resistance and has started its march toward the all-time high. This pushed the total market capitalization of the crypto sector to a new all-time high above $2.64 trillion.

The successful debut of the ProShares’ Bitcoin Strategy exchange-traded fund (BITO) acted as the trigger to boost sentiment in the crypto space. The ProShares’ ETF trading volume on the first day of the launch exceeded $1 billion, making it the second-most successful ETF debut based on the trading volume on day one.

245f493c-2510-45eb-8794-27ce7272190b.pngDaily cryptocurrency market performance. Source: Coin360

A panel of 50 fintech industry specialists, commissioned by Finder, believes that strong on-chain fundamentals, a favorable macro environment, and approval of the Bitcoin ETF could send Bitcoin to $80,000 by the end of the year.

Could Bitcoin piggyback on the positive sentiment created due to the successful launch of the Bitcoin ETF and continue its northward march? Will altcoins also resume their up-move? Let’s study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin broke above the immediate resistance at $62,933 on Oct. 19 and that was followed by another sharp up-move today, thrusting the price above the previous all-time high at $64,854 made on April 14.

e05f1a02-3e94-4ff4-86f6-9a21a1367e4a.pngBTC/USDT daily chart. Source: TradingView

If bulls sustain the price above the breakout level at $64,854, the bullish momentum could pick up further. The BTC/USDT pair could then rally to the overhead resistance at $75,000.

The sharp up-move of the past few days has pushed the relative strength index (RSI) above 78, suggesting that the rally may be overextended in the short term. This could result in a few days of consolidation or a minor correction.

If bulls do not give up much ground from the current level, it will suggest strength and improve the prospects of the continuation of the uptrend.

The critical level to watch on the downside is $60,000. A break and close below this support will be the first sign that traders are aggressively booking profits at higher levels.

ETH/USDT

Ether bounced off the neckline of the inverse head and shoulders (H&S) pattern on Oct. 19, suggesting that bulls are buying on dips to this support. Strong buying has pushed the price above the overhead resistance at $4,027.88 today.

e2bc3208-534c-4d8d-8dc2-f6cb237a27eb.pngETH/USDT daily chart. Source: TradingView

The rising moving averages and the RSI in the positive territory indicate advantage to the bulls. If buyers sustain the price above $4,027.88, the ETH/USDT pair could rally to the all-time high at $4,372.72.

This level may again act as a stiff resistance but if bulls clear the hurdle, the pair could reach the pattern target at $4,657 and then challenge the psychological level at $5,000.

This positive view will invalidate if the price turns down from the current level and breaks below $3,200.

BNB/USDT

Binance Coin (BNB) is gradually moving higher toward $518.90, which had acted as a tough barrier on two previous occasions. Hence, the bears may again try to defend this level with vigor.

536cce72-c190-44e5-a80b-ffbebe7f7c7b.pngBNB/USDT daily chart. Source: TradingView

If the price turns down from $518.90, the BNB/USDT pair could drop to the 20-day EMA ($450). A strong rebound off this level will suggest that the sentiment has turned positive and traders are buying the dips.

That will increase the likelihood of a break and close above $518.90. The pair could then start its northward march to the pattern target at $554. This bullish view will invalidate if the price turns down and breaks below the right shoulder at $392.20.

ADA/USDT

Cardano (ADA) is attempting to bounce off the support line of the symmetrical triangle pattern. If bulls push the price above the 20-day EMA ($2.19) the altcoin could rally to the resistance line of the triangle.

5ffb9fae-8bba-4042-ab86-a98f6fc0d9ef.pngADA/USDT daily chart. Source: TradingView

A break and close above the triangle will signal that the uncertainty has resolved in favor of the buyers. The ADA/USDT pair could then rally to $2.47 and if this level is crossed, the up-move could reach $2.80.

Alternatively, if the price turns down from the current level or the overhead resistance and breaks below the triangle, it will suggest that supply exceeds demand. The pair could then decline to the critical support at $1.87.

XRP/USDT

XRP formed an inside-day candlestick pattern on Oct. 18 and 19, suggesting indecision among the bulls and the bears. This uncertainty resolved to the upside today with a break above $1.10.

63eca016-ac77-4ad3-9f2f-3fb860e6f47d.pngXRP/USDT daily chart. Source: TradingView

The bulls will now try to push the price above the downtrend line. If they manage to do that, the XRP/USDT pair could rise to $1.24 and if this resistance is crossed, the next stop could be the critical level at $1.41.

If the price turns down from the downtrend line, the pair could again drop to $1. A break and close below this support will complete a bearish descending triangle pattern that could result in a decline to $0.85.

SOL/USDT

The bulls have successfully defended the moving averages in the past few days, indicating accumulation at lower levels. The buyers will now try to push Solana (SOL) above the overhead resistance zone between $171.47 and $177.79.

3215dce1-53ec-4107-be76-821a8ab19b81.pngSOL/USDT daily chart. Source: TradingView

A close above $177.79 will complete an ascending triangle pattern, which has a target objective at $226.94. The rally may not be linear as bears are expected to pose a stiff challenge at the psychological level at $200 and then at the all-time high at $216.

On the other hand, if the price turns down from the current level, it will suggest that bears are aggressively selling on rallies. A break and close below the trendline will invalidate the bullish setup. The SOL/USDT pair could then drop to the critical support at $116.

DOT/USDT

The bulls have successfully held Polkadot (DOT) above the breakout level at $38.77 for the past few days. This suggests strong accumulation by the bulls as they anticipate the rally to resume.

6f64933f-f023-4694-a810-b579b68bbb5b.pngDOT/USDT daily chart. Source: TradingView

The upsloping moving averages and the RSI just below the overbought territory indicate that buyers have the upper hand. A break and close above $44.78 could push the price to the all-time high at $49.78.

On the other hand, if the price turns down from the current level and breaks below the 20-day EMA ($37.84), it will suggest that bears have made a strong comeback. The DOT/USDT pair could then drop to the 50-day SMA ($33.63).

Related: Cointelegraph Consulting: ETFs listed — What’s next for Bitcoin?

DOGE/USDT

The bulls pushed Dogecoin (DOGE) above the downtrend line on Oct. 18 but could not sustain the higher levels as seen from the long wick on the day’s candlestick. The buyers again tried to clear the overhead hurdle at the downtrend line on Oct. 19 but failed.

07d169a0-5e84-49c6-969b-2e26f356f65c.pngDOGE/USDT daily chart. Source: TradingView

After twice being unsuccessful, the bulls are again trying to drive and sustain the price above the downtrend line today. Such a move will invalidate the developing descending triangle pattern, clearing the path for a possible rally to $0.32 and then $0.35.

Contrary to this assumption, if the price turns down from the downtrend line and breaks below the 20-day EMA ($0.23), it will suggest that bears are aggressively defending the downtrend line.

If bears sink the price below the 20-day EMA, the DOGE/USDT pair could drop to the strong support zone at $0.21 to $0.19.

LUNA/USDT

Terra protocol’s LUNA token broke below the 50-day SMA ($36.66) on Oct. 17 but the bears could not pull the price below the strong support at $34.86. The failure to do so seems to have attracted buying from aggressive bulls who have pushed the price above the overhead resistance at $39.75 today.

ec57d2a8-b977-4de4-8168-d586424589ad.pngLUNA/USDT daily chart. Source: TradingView

The LUNA/USDT pair could now rise to $45.01 where the bears are likely to offer a stiff resistance. If the price turns down from this level but rebounds off the breakout level at $39.75, it will suggest that bulls have the upper hand.

A breakout and close above $45.01 could push the pair to the all-time high at $49.54. On the contrary, if the price turns down from the current level and breaks below $39.75, it will signal strong selling at higher levels. The pair could then drop to $34.86.

UNI/USDT

Uniswap (UNI) has been trading in a tight range between the neckline of the possible inverse H&S and the 20-day EMA ($25.32). This indicates indecision among the bulls and the bears about the next directional move.

5289e5dc-2cf0-48f9-b3bc-c247595b6b05.pngUNI/USDT daily chart. Source: TradingView

A breakout and close above the neckline will complete the bullish setup. The UNI/USDT pair could then rally to $31.41 and if this level is crossed, the up-move may reach the pattern target at $36.98.

Conversely, if the price turns down from the current level and plummets below the moving averages, the decline may extend to $22. This is an important level for the bulls to defend because a break below it could sink the pair to $18.

The views and opinions expressed here are solely those of the author 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 decision.

Market data is provided by HitBTC exchange.

Source

  • 14.09.20 18:26 Егор Шетюк

    Понеслась

  • 14.09.20 18:26 Захар Трофимов

    15$. Тюмень рулит😁

  • 14.09.20 18:35 Константин В.В

    Биток и эфир держу до лучших времён)

  • 14.09.20 18:38 Попко Колян

    ​ДОБРОГО

  • 14.09.20 18:43 Даниил

    Рига смотрит

  • 14.09.20 18:46 Вадим Никулин

    Всегда смотрю Вас!

  • 14.09.20 18:55 Захар Трофимов

    Минск на проводе

  • 14.09.20 18:56 Щука А

    Спасибо за ваш труд

  • 14.09.20 19:01 Никита

    Хай

  • 14.09.20 19:06 Вячеслав Левков

    Отложил биток на пенсию

  • 14.09.20 19:13 Попков С.А.

    Отличные эфиры у вас

  • 14.09.20 19:20 Щука А

    Привет из Москвы

  • 14.09.20 19:25 Алексей С.

    Всем РЕСПЕКТ

  • 14.09.20 19:27 Николай

    Вперед криптаны

  • 14.09.20 19:34 КРИПТАН

    Слышно гуд

  • 14.09.20 19:36 Егор Шетюк

    Подарите книгу)))

  • 14.09.20 19:44 Светлана П

    миллионерам привет

  • 14.09.20 19:48 Вячеслав Левков

    Крипта скам=)

  • 14.09.20 19:53 Тоха

    Понеслась

  • 14.09.20 19:57 Носов А.А

    Рига смотрит

  • 14.09.20 20:04 Прокоп

    Донаты принемаете?

  • 14.09.20 20:06 Носов А.А

    спасибо

  • 14.09.20 20:12 Юрий Ник

    Тюмень рулит😁

  • 14.09.20 20:18 Даниил

    миллионерам привет

  • 14.09.20 20:18 Нина

    17$. Биток и эфир держу до лучших времён)

  • 14.09.20 20:24 Никита

    18$. Задонатю вам баблишка)

  • 14.09.20 20:25 Вячеслав Левков

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 20:26 Павел Скоровойтов

    Слава эфиру

  • 14.09.20 20:35 Носов А.А

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 20:36 Тоха

    Шалом

  • 14.09.20 20:44 Лена

    Биток и эфир держу до лучших времён)

  • 14.09.20 20:47 Нина

    ​ку-ку)

  • 14.09.20 20:53 Попков С.А.

    Все good. Ростем потихоньку и падаем, как всегда

  • 14.09.20 20:58 Санек

    Всем РЕСПЕКТ

  • 14.09.20 21:01 Славка Орехов

    Спасибо за ваш труд

  • 14.09.20 21:10 Ваня А,

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 21:13 Нина

    ​ДОБРОГО

  • 14.09.20 21:20 Никита

    Привет парни!

  • 14.09.20 21:25 Егор Шетюк

    Hello

  • 14.09.20 21:27 Вячеслав Левков

    ​ку-ку)

  • 14.09.20 21:33 Попков С.А.

    Тамбов с вами братва

  • 14.09.20 21:37 Серега Бумер

    Слава эфиру

  • 14.09.20 21:42 Ваня А,

    Подарите книгу)))

  • 14.09.20 21:50 Павел Скоровойтов

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 21:54 Захар Трофимов

    Привет парни!

  • 14.09.20 21:56 Санек

    Отложил биток на пенсию

  • 14.09.20 22:03 Носов А.А

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 22:03 Попков С.А.

    14$. Надо изучать Defi , интересно

  • 14.09.20 22:09 Николай

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 22:14 Вадим Никулин

    Я из РБ слежу за вами давно💰

  • 14.09.20 22:17 Николай

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 22:24 Лена

    ​Я снова с вами)))

  • 14.09.20 22:28 Носов А.А

    Отложил биток на пенсию

  • 14.09.20 22:31 Серега Бумер

    Тюмень рулит😁

  • 14.09.20 22:40 Светлана П

    Сморгонь 👍

  • 14.09.20 22:43 Вадим Никулин

    Отложил биток на пенсию

  • 14.09.20 22:46 Николаев

    Круто

  • 14.09.20 22:53 Ваня А,

    Люблю ваши трансляции, вы крутые!

  • 14.09.20 22:58 Вячеслав Левков

    Биток вперед!!!

  • 14.09.20 23:05 Носов А.А

    ​Привет всем с Украины!

  • 14.09.20 23:06 Носов А.А

    12$. ​здарова бандиты

  • 14.09.20 23:09 Константин В.В

    Отложил биток на пенсию

  • 14.09.20 23:14 Прокоп

    Екатеринбург на связи

  • 14.09.20 23:18 Николаев

    Круто

  • 14.09.20 23:25 Тоха

    ​здарова бандиты

  • 14.09.20 23:27 Попков С.А.

    Отличные эфиры у вас

  • 14.09.20 23:33 Лена

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 23:39 Николаев

    Доброе утречко

  • 14.09.20 23:45 Лена

    Как успехи?

  • 14.09.20 23:49 Павел Скоровойтов

    ​ку-ку)

  • 14.09.20 23:51 Ваня А,

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 23:57 Попков С.А.

    Хомяки тут

  • 15.09.20 00:01 Лысый Боб

    Привет, пацаны. Слышно, видно хорошо

  • 15.09.20 00:07 Санек

    Слава эфиру

  • 15.09.20 00:12 Щука А

    Екатеринбург на связи

  • 15.09.20 00:14 Нина

    23$. Лайк

  • 15.09.20 00:16 Юрий Ник

    Вперед криптаны

  • 15.09.20 00:25 Лена

    Биток и эфир держу до лучших времён)

  • 15.09.20 00:26 Попков С.А.

    Как успехи?

  • 15.09.20 00:33 Попко Колян

    Я из РБ слежу за вами давно💰

  • 15.09.20 00:40 Даниил

    миллионерам привет

  • 15.09.20 00:50 Константин В.В

    11$. Круто

  • 17.09.20 15:31 Trident

    купил билет на семинар который изначально планировался в субботу.... в пятницу не смогу послушать, гле посмотреть запись?

  • 24.09.20 12:08 Серго1985

    Как бабло зарабатывается??

  • 15.10.20 09:16 Vyacheslav

    отлично зарабатывается !)

  • 15.10.20 09:16 Vyacheslav

    у вас как?

  • 09.02.21 10:40 ave2510

    всем привет! кто то заходил в ю8д...?

  • 10.02.21 12:52 [email protected]

    почему я на юнисвоп не вижу токен NTFI

  • 16.02.21 18:27 Jessikagylu

    Всем привет. А какой интернет вы используете для майнинга? Прочла интересную статью https://hashalot.io/blog/vyjdet-li-majning-za-limit-trafika-kakaya-skorost-interneta-nuzhna-dlya-majninga/ и задумалась над этим. Какие характеристики сети у вашего провайдера?

  • 24.04.21 07:21 [email protected]

    991532991

  • 24.04.21 07:24 [email protected]

    998991532991

  • 24.04.21 07:25 [email protected]

    [email protected]

  • 12.05.21 09:24 Calibr

    Как купить доступ в закрытый чат?

  • 18.06.21 11:05 007ja

    Как войти на выбинар бесплатный в 11:00

  • 13.07.21 19:13 ChicoChalk

    Try changehero: https://changehero.io/

  • 15.07.21 21:57 Alonzo

    ребята нужна помощь не могу завести ton на кошелек ton cristal!

  • 18.07.21 00:04 Alonzo

    ребят мне нужна помощь я не могу зайти в фермы !вроде делаю все как вы обьясняли но что то делаю не так нужна помощь

  • 26.08.21 04:09 Noverlick

    А значит надо оптимизировать алгоритм. Мы в Новерлик это сделали!

  • 08.10.21 12:36 artem2121ro

    Как принять участие?

  • 18.11.21 16:42 wakawaka

    test text

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