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Cryptocurrency News Articles
Bitcoin (BTC) Price Analysis: Bulls Attempt to Close the Week Above $62,500, Altcoins Look Strong
Oct 07, 2024 at 04:32 am
Bitcoin (BTC) price analysis: Bulls attempt to close the week above $62,500, altcoins look strong
Bitcoin price analysis: BTC shows buying at lower levels, but October has been slow
Bitcoin (BTC) price bounced off the 50-day simple moving average ($60,589) on Oct. 4, indicating that the bulls are trying to form a higher low.
If buyers maintain the price above the 20-day exponential moving average ($62,237), the momentum could pick up, and the BTC/UDST pair could jump to $66,500. This level may attract sellers, but the rally may extend to $70,000 if buyers bulldoze their way through.
On the other hand, if bears want to prevent the upside, they will have to swiftly drag the price below the 50-day SMA. If they manage to do that, the pair could plummet to $57,500 and later to the crucial support at $54,000.
The 4-hour chart shows that the bulls have successfully defended the 20-EMA. The relative strength index (RSI) has jumped into the positive territory, indicating that the momentum has turned positive.
If the price closes above the 50-SMA, the likelihood of a rally to $65,000 increases.
On the contrary, if the price turns down and breaks below the 20-EMA, it will suggest that the bears have not given up. The pair may then slump to the psychologically important level of $60,000. If this support cracks, the pair may descend to $57,500 and later to the vital support at $54,000.
Aptos price analysis: APT shows a strong breakout and retest
Aptos (APT) price broke out of an inverted head-and-shoulders pattern on Sept. 21 and successfully held the retest of the breakout level on Oct. 2.
The 20-day EMA ($7.89) has started to slope up, and the RSI is in the positive territory, indicating that bulls have the upper hand.
The APTUSDT pair will then try to move up to the pattern target of $11.
This optimistic view will be negated in the near term if the price turns down and plunges below $7.65. Such a move would suggest that it was a fake breakout. The pair could then decline to $5.66.
The 4-hour chart shows that the price has pulled back to the 20-EMA, which is an important level for the bulls to defend.
If the price bounces off the 20-EMA and breaks above $9.32, it will signal that the trend has turned positive.
Contrarily, if the price turns down and breaks below the 20-EMA, it will suggest that the bulls are booking profits. The pair could drop to the 50-SMA and, after that, to the breakout level of $7.65. This level is expected to attract solid buying by the bulls.
Dogwifhat price analysis: WIF bulls attempt to flip downtrend line
The bears are fiercely defending the downtrend line in Dogwifhat (WIF), but a positive sign is that the bulls have not allowed the price to dip below the 20-day EMA ($2.09).
Both moving averages have started to turn up, and the RSI is in the positive territory, indicating that bulls have the edge.
Buyers will have to maintain the price above the downtrend line to signal a potential trend change. The bears will try to stall the up move in the $2.64 to $2.89 zone, but if the bulls prevail, the rally could reach $3.50.
Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it will signal that the bulls have given up. The WIFUSDT pair may then skid to the 50-day SMA ($1.77).
The 4-hour chart shows the formation of an ascending triangle pattern, which has a target objective of $2.93.
Buyers purchased the dip to the breakout level of $2 and have pushed the price above the immediate resistance at $2.40. The pair could rally to $2.60, which is expected to act as a strong resistance.
On the downside, a break and close below $2 will signal that the bears are back in the game. The pair may then slump to the uptrend line of the ascending triangle.
Fantom price analysis: FTM completes an inverted H&S pattern
After completing an inverted head-and-shoulders pattern on Sept. 17, Fantom (FTM) price broke above $0.55. Usually, after the price breaks out from
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- Tinubu’s 30-Day Youth Conference: A Publicity Stunt or Genuine Engagement?
- Oct 07, 2024 at 12:15 pm
- President Bola Ahmed Tinubu’s announcement of a 30-day youth conference in his 1st October Independence Day broadcast has left me questioning the sincerity of his administration’s efforts to address the pressing concerns of Nigerians.