Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

Bitcoin (BTC) rose within a few steps of $63,000 today for the commencement fourth dimension since April 18. The contempo surge in the price may have been caused by various documents pointing to the eventual approval of a futures-based BTC ETF by the United States Securities and Exchange Commission. Co-ordinate to these documents, the regulator may be close to greenish lighting the application to listing Valkyrie's Bitcoin Strategy commutation-traded fund ETF on Nasdaq.

Analysts pointed out that the price of golden had risen sharply leading up to the launch of the kickoff U.Southward.-based gilt ETF in 2004. Thereafter, the rally continued and the price of gold rose more than than 300% after the ETF was canonical and earlier forming a major summit. The fact that both gold and Bitcoin are stores of value appears to have generated huge excitement for the launch of a Bitcoin ETF.

*Daily cryptocurrency market functioning. Source:* *Coin360*

Traders seem to accept accumulated Bitcoin aggressively before the declaration of a Bitcoin ETF. The Bitcoin futures open interest in the Chicago Mercantile Exchange hit a new all-time high on Oct. xiv, surpassing the previous loftier of $3.02 billion fabricated on Apr 14.

Could Bitcoin break above the all-time high and continue its northward journey and will altcoins also join the party? Let's written report the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

Bitcoin formed a Doji candlestick pattern on Oct. 14, indicating indecision amongst the bulls and the bears above the $58,000 level. This uncertainty resolved to the upside on October. fifteen and the rally has resumed.

The 20-day exponential moving average (EMA) ($52,868) is sloping upward and the relative strength index (RSI) is in the overbought zone, suggesting that bulls are in control. However, the all-time high at $64,854 may testify to be a difficult hurdle to cantankerous.

If the BTC/USDT pair turns down from this resistance, the first back up to watch on the downside is the 20-24-hour interval EMA. A stiff rebound off this back up will suggest that sentiment remains positive and traders are buying the dips.

That will increase the possibility of the resumption of the uptrend with the target at $75,000. The first sign of weakness volition be a intermission and close below the 20-day EMA, which could outcome in a decline to the l-twenty-four hour period simple moving average (SMA) ($48,514).

ETH/USDT

Ether (ETH) bounced off the xx-day EMA ($3,479) on Oct. thirteen and broke above the neckline of the inverse head and shoulders (H&S) pattern on Oct. 14. This completed the bullish setup which has a target objective of $four,657.

Both moving averages are sloping up and the RSI has broken above the downtrend line, suggesting that bulls are back in control. The ETH/USDT pair could now rally to $4,027.88 then retest the best high at $4,372.72.

Contrary to this supposition, if the price turns down from the current level or the overhead resistance and breaks beneath the neckline, it volition propose that bears continue to sell on rallies. The pair could and then drop to the moving averages. A break and close beneath $3,257 volition indicate that bulls may be losing their grip.

BNB/USDT

Binance Coin (BNB) broke and closed above the neckline on Oct. 13, completing an inverse H&S pattern. This bullish setup has a pattern target of $554.

The bears attempted to pull the price dorsum beneath the breakout level only the long tail on the mean solar day'due south candlestick indicates buying at lower levels. The moving averages have completed a bullish crossover and the RSI is in the positive zone, indicating that bulls take the upper hand.

If the price rises from the current level and breaks above $518.xc, it will signal the resumption of the uptrend. The bears will have to pull and sustain the BNB/USDT pair below the moving averages to weaken the bullish momentum.

ADA/USDT

The bulls are attempting to push Cardano (ADA) back into the symmetrical triangle pattern merely the bears are non relenting. They are defending the support line and the 20-day EMA ($2.21) with vigor.

If the price turns down from the current level and breaks below $2.07, the ADA/USDT pair could driblet to $2 and next to $one.87. A breach below this important level may pull the pair down to the design target of $1.63

Alternatively, if bulls push and sustain the cost higher up the 20-day EMA, the pair could ascension to the resistance line of the triangle. A breakout and close in a higher place the triangle could clear the path for a rally to $2.47, followed by a move to $2.80.

XRP/USDT

Ripple (XRP) has been holding to a higher place the 20-day EMA ($1.08) for the by few days simply the bulls have non been able to push the toll to the overhead resistance at $1.24. This suggests a shortage of demand at college levels.

If the cost turns down and breaks below the xx-day EMA, the XRP/USDT pair could drib to $one. This level could once more concenter buyers but if they fail to push the cost in a higher place $1.24, the bearish momentum could pick upwardly and the slide could deepen to $0.85.

Conversely, if the cost rises from the current level and breaks higher up $ane.24, it will bespeak that the selling pressure level may exist easing. The pair could then ascent to $1.41 and if bulls articulate this bulwark, the next terminate could be $1.66.

SOL/USDT

The failure of the bears to sink Solana (SOL) below the 50-day SMA ($147) in the past few days indicates accumulation by the bulls. The buyers are currently attempting to sustain the price in a higher place the downtrend line.

If they succeed, the SOL/USDT pair could rise to the 61.8% Fibonacci retracement level at $177.fourscore. This level may act as strong resistance simply if bulls overcome this hurdle, the pair may rally to $200 and then retest the all-fourth dimension loftier at $216.

The get-go sign of weakness will be a break and close beneath the 50-day SMA. That could pull the price down to $116. This is an important level to continue an heart on because a break beneath it could intensify the selling.

DOT/USDT

Polkadot (DOT) skyrocketed and closed above the $38.77 overhead resistance on October. xiii, suggesting that the consolidation has resolved in favor of the bulls.

The bears tried to pull the price back below $38.77 on Oct. 14 and 1 merely failed. This shows that buyers are aggressively defending the breakout level. If bulls drive the cost to a higher place $43.22, the DOT/USDT pair could retest the all-time loftier at $49.78.

If the cost turns down from the electric current level and breaks beneath $38.77, the pair could drop to the 20-mean solar day EMA ($34.84). A strong bounce off this back up will suggest that sentiment remains positive and traders are buying on dips.

Alternatively, if bears sink the price below the moving averages, the pair could drop to $25.50. Such a motion will propose that the breakout in a higher place $38.77 may have been a bull trap.

Related: CFTC slaps Tether and Bitfinex with a combined $42.5 meg fine

DOGE/USDT

The bulls are struggling to sustain Dogecoin (DOGE) in a higher place the 20-twenty-four hours EMA ($0.23), which suggests that buying dries up at higher levels. A pocket-size positive is that bulls have non allowed the price to sustain below $0.22.

The 20-day EMA has flattened out and the RSI is but above the midpoint, suggesting a balance betwixt supply and need. This equilibrium will tilt in favor of the bears if the $0.21 support cracks. That may result in a decline to $0.xix.

If the price turns upwardly from the current level, the bulls volition try to button the price to the downtrend line. A breakout and shut above this level volition suggest that the refuse could be over. The DOGE/USDT pair may next rise to $0.32 and then to $0.35.

LUNA/USDT

Terra protocol's LUNA token is finding support at the 50-mean solar day SMA ($36.24) for the past three days but the bulls accept not been able to drive the price above the xx-day EMA ($38.86). This suggests that need dries up at higher levels.

The xx-day EMA is sloping down marginally and the RSI is just beneath the midpoint, indicating a minor reward to bears. A interruption and close below the 50-day SMA could pull the price down to $32.50 and if this support cracks, the correction could deepen to $25.

Conversely, if bulls drive the cost above the twenty-day EMA, the LUNA/USDT pair could choice upward momentum and advance to $45.01 where bears may once again try to mount a potent resistance. A retest of the best high at $49.54 is probable if bulls overcome this obstacle.

UNI/USDT

Uniswap (UNI) rose in a higher place the moving averages on Oct. 13 and reached the neckline of the inverse H&South pattern on Oct. 14. The bears are currently attempting to stall the recovery at the neckline.

The moving averages are on the verge of a bullish crossover and the RSI has climbed into the positive territory, indicating that bulls accept the upper manus. If the price rebounds off the moving averages, the bulls will make one more than attempt to propel the UNI/USDT pair above the neckline.

If they succeed, it will complete the inverse H&S setup, starting a possible rally to $31.41 and subsequently to the pattern target at $36.98. This bullish view will invalidate if the price continues lower and breaks below $22. The pair could and so drop to the strong support at $eighteen.

The views and opinions expressed here are solely those of the author and practise not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a conclusion.

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