October has already benefited the cryptocurrency market. Although it is unknown what the course will be like throughout the month, the graphics that turned green in previous years have turned the same color this year as well. While the Bitcoin price exceeded the $28,000 level, the XRP price settled at the general resistance level.
Here is BTC, ETH, ADA, SOL, XRP price analysis…
Bitcoin (BTC) price analysis
Bitcoin broke above the immediate resistance of $27,500 on October 1 and then extended its rise to above $28,143 on October 2. The fact that $28,143 was easily achieved shows that there is a high probability of further rises.
On the other hand, a decline in the price below $28,143 may trap aggressive bulls. This may pull the price towards the 20-day EMA. Sellers will have to push the price below this level if they want to gain control.
Ethereum (ETH) price analysis
The 20-day EMA ($1,644) is up and the relative strength index (RSI) is trending above the 64 level.
This increased the chances of a rise above $1,746. In such a case, the ETH/USDT pair will complete the double bottom formation. This position will create a target of $1,959.
Cardano (ADA) price analysis
Overall, the reversal of the downward trend was seen as a positive sign. However, it was predicted that the price might fall and the breakout level might be retested.
The ADA/USDT pair could then start a rise towards $0.29 and then towards $0.32.
On the contrary, if the price falls and enters the triangle again, it will indicate that the markets are rejecting the higher levels. The pair could then retest the important support at $0.24.
Solana (SOL) price analysis
The sharp rise pushed the RSI into the overbought territory, indicating that the rally may soon encounter resistance. The recovery may stop at $25.50 and then again at $27.12. A fall in the price from this level would signal that the $14 to $27.12 range will remain intact.
The important support to watch on the downside will be the 20-day EMA at $20.50.
Ripple (XRP) price analysis
The overhead resistance level of $0.56 is an important level to watch as a rise above it could indicate the beginning of a new uptrend towards the pattern target of $0.64.
On the other hand, a drop in the price from $0.56 will show that the bears have not given up and continue to sell in rallies. This could restrict the XRP/USDT pair to the $0.41 to $0.56 range for a while longer.
