Crypto Market Forecast: Bitcoin, Ripple, Ethereum
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Crypto Market Forecast: Bitcoin, Ripple, Ethereum

October 15, 2020      Jafrin Ahmed

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 (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.

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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.

READ  Bitcoin's slow and steady rise loses momentum; headwinds to push BTC to $9,060?

Ripple Remains Bullish

Ripple has not wavered down despite the retreat from $0.26. A bullish picture is noticed wherein whales are still buying more XRP despite the rejection at $0.26.

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.

#btc #Crypto Market #Crypto Price #eth #Ethereum #ripple #XRP
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Being a HODLer she takes a keen interest in following the volatile Bitcoin charts. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.