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Cryptocurrency News Articles
Bitcoin (BTC) Price Nears $62.5K as Whales Accumulate, Altcoins Eye Higher Levels
Oct 12, 2024 at 03:58 am
Bitcoin BTC $62,767 recovered sharply and is nearing $62,500 on Oct. 11, indicating aggressive buying at lower levels.
Bitcoin price analysis: BTC grinds higher from sub-$59K support as bulls prepare for next leg up
Bitcoin (BTC) price fell below the $59,828 support on Oct. 10, indicating pessimism among traders. However, a positive sign is that the bulls purchased the dip, as seen from the long tail on the candlestick.
If buyers maintain the price above the 20-day exponential moving average ($61,947), the aggressive bears may get trapped. The BTC/USDT pair will then try to rise to the $65,000 to $66,500 resistance zone.
This optimistic view will be negated if the price turns down and breaks below $58,946. The bears will then attempt to pull the pair to $57,500 and eventually to the pivotal support of $54,000. Buyers are expected to step in to protect the $54,000 level.
Ether price analysis: ETH grinds lower within symmetrical triangle as bears fail to sink price
Ether (ETH) price has been trading below the moving averages, but the bears have failed to sink the price to the support line of the symmetrical triangle. This suggests that selling dries up at lower levels.
Buyers will try to push the price above the moving averages and start the journey toward the resistance line. Sellers will try to keep the price inside the triangle by defending the resistance line, but if the buyers bulldoze their way through, the ETH/USDT pair could rise to $2,850 and then to $3,409.
Alternatively, if the price turns down from the moving averages and breaks below $2,300, it will suggest that the bears are trying to take control. The pair could then fall to the support line.
Top altcoins rally as Bitcoin grinds higher from sub-$59K support
BNB price analysis: BNB grinds higher from 50-day SMA as bulls defend short-term support
BNB price fell below the 20-day EMA ($567) on Oct. 10, but the bulls successfully defended the 50-day simple moving average ($553).
The bulls started a relief rally on Oct. 11 and pushed the price above the 20-day EMA. The BNB/USDT pair will have to maintain momentum and rise above $587 to open the doors for a possible rise to the overhead resistance of $635.
If the price turns down and breaks below the 50-day SMA, it will suggest advantage to the bears. There is important short-term support at $527, but if it fails to hold, the BNB/USDT pair could descend to the solid support at $460.
Solana price analysis: SOL grinds higher from $133 support as bulls defend key level
Solana (SOL) price closed below the 50-day SMA ($141) on Oct. 9, but the bears could not pull the price below the nearby support of $133.
The bulls are trying to push the price above the moving averages on Oct. 11. If they manage to do that, the SOL/USDT pair could rise to $152. This level may act as minor resistance, but if crossed, the pair could climb to $164.
The bears are likely to have other plans. They will try to defend the moving averages and yank the price below $133. If that happens, the pair could skid to $127 and subsequently to the solid support at $116.
XRP price analysis: XRP grinds lower within a small range as bulls, bears battle for upper hand
XRP price has been trading inside a small range between $0.50 and $0.55 for the past few days, indicating a tough battle between the bulls and the bears.
The first sign of strength for the bulls will be a break and close above the moving averages. That will suggest the start of a rally to the overhead resistance of $0.64, which may again pose a solid challenge to the bulls.
Conversely, if the price turns down from the current level or the moving averages and breaks below $0.50, it will signal that the advantage has tilted in favor of the bears. The pair may plummet to $0.46 and then to $0.41.
Dogecoin price analysis: DOGE grinds higher from 50-day SMA as bulls hold key support level
Dogecoin (DOGE) price has been holding above the 50-day SMA ($0.10) for the past few days, but the bulls have failed to start a strong recovery. This suggests that the bears are selling on rallies.
If bulls want to
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