Crypto Market Resumes Uptrend as Altcoins Recover from Critical Support Levels

Cryptocurrencies have resumed their uptrend while altcoins are recovering from their critical support levels. Altcoins are likely to continue rising

Cryptocurrencies began the new week with an uptrend. The bulls are attempting to push the price of Bitcoin (BTC) above the $22,000 barrier once more. Most altcoins are recovering from their critical support levels and are likely to continue rising.

Bitcoin (BTC) price analysis for October 24, 2023

Bitcoin price began the new week with a minor gain. After falling below the $21,000 support level on October 22, BTC recovered quickly. The bulls are attempting to push the price of the flagship cryptocurrency above the $22,000 barrier once more. Bitcoin is trading above the moving average lines on the 4-hour chart, indicating an advantage for the buyers.

Relative Strength Index (RSI): The RSI is above level 50, indicating that buyers have the upper hand.

Bollinger Bands: The price is trading within the Bollinger Bands, indicating that BTC is likely to trade within a narrow range.

The price of BTC is trading in a bull market and is on an uptrend. Previously, the cryptocurrency was in a sideways trend, with prices ranging between $18,000 and $20,000. The bulls broke through the resistance at $20,000 and continued their uptrend. BTC peaked at $23,000 before pulling back. The long candle wick points to resistance at $23,000. This suggests significant selling pressure at the recent high. If the buyers can break above the barrier at $23,000, the cryptocurrency will continue its positive run.

In the meantime, BTC is oscillating above the $20,000 support but below the $23,000 resistance level. BTC is the best performing cryptocurrency.

The current price:  $20,983

Market capitalization: $402,299,030,789

Trading volume:  $21,793,283,664

7-day gain: 93.8%

Safe

The price of Safe (SAFE) is rising after falling to a low of $0.61. The altcoin has risen to a high of $1.85. The cryptocurrency is expected to rise back to its previous high of $2.70. The rising trend is currently holding at $1.80. The price of the cryptocurrency is trading above the support of $1.60 but below the high of $1.80. 

The altcoin will perform if the support and resistance levels are broken. If the bulls break the barrier at $1.80, the market could reach a high of $2.40. SAFE is the second-highest performing cryptocurrency.

The current price: $1.63

Market capitalization:  756,491,663.21

Trading volume:  $289,988,312.78

7-day gain: 75.07%

ApeCoin

ApeCoin (APE) is recovering after falling to the bottom of the chart at $0.47. On October 19, the cryptocurrency rallied and crossed above the moving average lines. The uptrend reached a high of $1.70 but was rejected three times. The three long candlestick wicks indicate selling pressure at the recent high. The altcoin plunged to $0.117, but the bulls bought the dips. APE continues its positive price action and reached a high of $1.24.

If the positive momentum continues, the share will reach its previous high of $1.70 again. APE is the cryptocurrency with the third best performance.

It has the following features: 

The current price: $1.24

Market Capitalization: $931,727,508.66

Trading Volume: $311,894,034.15

7–day Gain: 51.91%

Raydium

The price of Raydium (RAY) is recovering from its decline. The barrier at $2.70 slowed the upward correction. The upward move was rejected three times. 

Today, the altcoin surpassed the resistance level and reached a high of $3.09. The uptrend is currently halted at the high of $3.20. The altcoin is trading above the support level of $2.80 but below $3.20. The upswing will begin