Coinbry

  • Market Cap: $2,058,808,725,757.04
  • 24h Vol: $99,859,813,754.89
  • BTC Dominance: 49.17%
10/4 Price Analysis: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), TON Crystal (TON), Polkadot (DOT), Polygon (MATIC)

10/4 Price Analysis: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), TON Crystal (TON), Polkadot (DOT), Polygon (MATIC)

Bitcoin is consolidating at the top of its range, and this is giving traders a boost of confidence in altcoins. The market is buzzing with excitement as institutional investors start to warm up to cryptocurrencies. But amidst all the hype, there are warning signs that we shouldn’t ignore.

The 10-year Treasury yields in the United States have soared above 4.8%, reaching their highest level since 2007. This has led some experts to sound the alarm bells, warning that a recession may be on the horizon. And if that happens, the government will have to print money to save the bond market, which could trigger a cryptocurrency bull market.

But let’s not get carried away just yet. The charts tell a different story. Bitcoin has seen some resistance at higher levels, with bears aggressively selling. However, the bulls have managed to hold their ground, and if they can clear the overhead resistance, we may see a short-term double bottom pattern with a target objective of $31,486.

Ether, on the other hand, has faced fierce resistance at $1,746. The price action suggests a balance between supply and demand, and if the bulls can overcome this obstacle, we may see a double bottom pattern with a target objective of $1,961.

BNB saw a failed breakout above $220, indicating that traders are rushing to the exit. The bulls will need to regain control and push the price above this resistance level to signal an up-move to $235 and $250.

XRP broke out of a symmetrical triangle pattern and is now facing resistance at $0.56. If the bulls can surmount this level, we may see a new uptrend with a target of $0.66.

Solana has been oscillating within a large range between $14 and $27.12. The formation of a potential inverse head and shoulders pattern suggests a possible rally to $32.81 if the price can break above the neckline.

Cardano turned down from $0.27 and is now testing the 20-day EMA at $0.25. A rebound from this level could indicate a change in sentiment and a push towards $0.29 and $0.32.

Dogecoin saw a brief push above the 50-day SMA but failed to sustain higher levels. The price is now testing the formidable support at $0.06, and a break below this level could lead to a drop to $0.055.

Toncoin fell below the 20-day EMA and is now facing resistance at this level. A turn down from here could suggest a bearish sentiment and a drop below the 50-day SMA.

Polkadot turned down sharply from the 50-day SMA but found strong buying support at $3.91. The RSI has formed a bullish divergence, indicating that sellers may be losing their grip. If the bulls can push the price above the 20-day EMA, we may see a prolonged stay within the $4.33 to $3.91 range.

In summary:

– Bitcoin is consolidating at the top of its range, inspiring confidence in altcoins.

– Institutional investors are starting to warm up to cryptocurrencies.

– 10-year Treasury yields in the US have soared, raising concerns about a recession.

– Bitcoin faces resistance at higher levels but could see a short-term double bottom pattern with a target of $31,486.

– Ether faces fierce resistance at $1,746 but could form a double bottom pattern with a target of $1,961.

– BNB saw a failed breakout above $220, indicating bearish sentiment.

– XRP broke out of a symmetrical triangle pattern and faces resistance at $0.56.

– Solana is oscillating within a large range and could see an inverse head and shoulders pattern with a target of $32.81.

– Cardano turned down from $0.27 and is testing the 20-day EMA at $0.25.

– Dogecoin saw a brief push above the 50-day SMA but is now testing support at $0.06.

– Toncoin fell below the 20-day EMA and faces resistance at this level.

– Polkadot turned down sharply from the 50-day SMA but found support at $3.91.

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