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The crypto market shows early evidence of the beginning of a new downswing. A key level is defined.
Bitcoin price is currently trading at $19,414. 21-day Simple Moving Average (SMA) Loses as Support, Peer-to-Peer digital currency It fell in free fall on Tuesday, October 18th. catalyzed Permanently worked by previous triangle vertices support From early September.
If the bulls fail to support the 8-day exponential moving average at $19,222, it could wipe out the summer low of $17,880. If the bulls do not surrender near this level, investors can expect the $16,000 BTC price to finally emerge in the market.
The void for traders participating in a bearish trade setup is if the top of the refusal triangle at $20,300 is crossed. This price action could trigger Bitcoin’s price back to $25,400, up 30% from the current BTC price.
BTC/USDT hourly chart
In the following video, our analysts take a deep dive into Bitcoin price trends and break down the main levels of interest in the market. -FXStreet Team
Ethereum price has declined from the mid-$1,300 range to start October’s third trading week. The Relative Strength Index shows increasing bearish momentum, while the in-time timeframe shows a subtle uptick in volume.Combining the narrative of these indicators, decentralized smart contract tokens Phase 1 of the New South Movement.
ethereum price It is currently trading at $1,316 as the bears broke out of the 21-day SMA. Unless the bulls show up at the 8-day EMA near $1,280, we would not be surprised to see the October lows wiped out at $1,205.
The bearish deactivation level is above the October high of $1,383. If the bulls manage to complete this bullish event, the rally could continue to the September high of $1,718. occur with considerable probabilityAfter that, the price of ETH will increase by 36% from the current market price.
ETH/USDT Hourly Chart
In the following video, our analysts take a deep dive into Ethereum price action and analyze key interest levels in the market. -FXStreet Team
The price of XRP is currently being auctioned at $0.47. The 8-day EMA and 21-day SMA have different positions when compared to Bitcoin and Ethereum. On Monday, Oct. 17, the bulls were rejected from both indicators simultaneously near his $0.485.
The rejected moving average is bearish death cross signal in the next few hours. A move like this could wreak havoc on the price of XRP. With liquidity levels near $0.40 and possibly $0.37, there is a risk of up to 19% depreciation from the current market value.
The bearish downtrend break is above $0.50.If a bullish move occurs, the buyer frenzy A September high of $0.56 could see a 19% upside from the current XRP price.
XRP/USD Hourly Chart
In the following video, our analysts dive deep into Ripple’s price action and analyze key levels of interest in the market. -FXStreet Team
