Bitcoin fell from $ 57,680 on October 12, but the candlestick’s lower beard shows a bargain buy. The bears have once again tried to pull prices below the breakout level of $ 52,920, but the bulls don’t seem to forgive.
The rise in the 20-day moving average (EMA: $ 51,338) and the relative strength index (RSI) in the positive zone indicate a favorable situation for the bulls. If the bulls push prices above $ 57,839.04, the BTC / USDT pair could rise to $ 60,000.
This level could act as a tough resistance, but if bulls push prices up, prices could retest a record high of $ 64,854. Overcoming this could increase bullish momentum.
The $ 52,920 breakout level remains an important support to watch during the downturn. Below this level and the 20-day EMA will be the first sign that the bulls are losing power.
ETH / USDT
Ether (ETH) has rebounded from the 20-day EMA ($ 3,390) over the past three days, indicating that bulls are squeezing. In the future, bulls will try to push prices up to the neck and shoulders pattern neckline.
Pushed above the neckline completes a bullish setup targeting $ 4,657. The EMA gradually rises on the 20th and the RSI exceeds 55, indicating that the bulls have a slight advantage.
However, the ETH / USDT pair will not rise linearly as it may face severe resistance at $ 4,027.88 and even $ 4,372.72.
Contrary to this assumption, if the price falls below the current level or neckline and falls below the moving average, the ETH / USDT pair can fall to $ 3,160 and then to the psychological support of $ 3,000. There is sex.
Ripple (XRP) fell back on October 12th at the EMA ($ 1.06) on the 20th. The bulls seem to find it difficult to maintain prices above the 50-day moving average ($ 1.08). This suggests that there are no buyers at high prices.
If the bears remain below the 20-day EMA, the XRP / USDT pair could fall to the psychological support of $ 1. If it breaks below this level and closes, sales may rise and sink to $ 0.85.
Conversely, if prices rise from current levels, bulls will try again to push prices above the $ 1.24 resistance line. If successful, it could rise to $ 1.41.
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.