Bitcoin remains stagnant at $10,400 while building credibility towards a new yearly high, Ethereum swings below at $400, dipping into crypto market volatility while Ripple investors remain hopeful at $0.3 despite the resistance at $0.26
Altcoins like Bitcoin Cash and NEO sees green light after gaining over 2% and 1.5%, respectively. Meanwhile, DeFi tokens continue dipping downwards, led by UniSwap (UNI) and Yearn.finance (YFI).
Bitcoin: Ascending Towards Yearly Highs
At the publication time, Bitcoin is trading over $11,400 with short-term indicators hinting of resuming uptrend.
Crypto market experts are anticipating resistance at its descending price valuation at $11,500, $11,700 and $12,000 with expected support at $11,300 and $10,800 respectively.
Meanwhile, there is an increase in selling pressure between $11,431 and $11,760. Such a high supply range is brought by 1.3 million addresses, which has previously brought an approx. of 870,000 BTC. Bitcoin will see its green light to new yearly highs if the resistance changes to support its rally.
Although Bitcoin wavering from its current levels due to the support areas is highly doubtful, a retracement to $11,000 could happen before climbing above $12,000.
Ethereum On Its Volatile Route
Currently, Ethereum is on its volatile route between support at $370 and short-term resistance at $385. On its hopeful side, $390 remains its most dynamic resistance and a barrier to action above $400.
If Ethereum sees a breakdown, it might climb above $400, while focusing on $500. However, if resistance continues, a reversal could come into the scene. For instance, about 128 million ETH was moved on October 14, surpassing the previous spike of 86 million ETH, yet that led to the excellent price action of $395.
Ripple Remains Bullish
Addresses holding between 100,000 and 1 million XRP have consistently increased too over the past month wherein addresses holding between 1 million and 10 million XRP rose by three from 1,329 on October 13 to 1,332 on October 15. Hence, XRP’s buying pressure can eventually result in a breakout.