Cryptocurrencies price prediction: Bitcoin, Ethereum & NEO - European Wrap - 22 October


Bitcoin price prediction: BTC/USD hibernates under $8,300 – Confluence Detector

Bitcoin (BTC) is paralyzed in the middle of $8,200-$8,300 range. The first digital coin attempted a recovery above $8,300 on Monday, but the gains proved to be unsustainable so far.  We will need to witness a breakthrough outside of the range to inspire trading activity on the market.

Bitcoin confluence levels 

During early Tuesday hours, BTC/USD  tried to develop an upside momentum but stopped short of the upper boundary of the channel at $8,300. Bulls' inability to push the price above the resistance area bodes ill for the near-term forecasts and implies that the coin may be vulnerable to further losses with the initial aim at psychological $8,000. 

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Ethereum market update: ETH/USD slips back inside the range, $180.00 still out of reach

ETH/USD hit $178.28 on Monday and retreated to $174.57 by press time. The second-largest coin is moving inside a tight range amid slow trading activity in sync with the market. 

Ethereum’s market value is registered at $18.9. The coin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Tuesday.

 

NEO price analysis: NEO/USD on recovery track, still below critical resistance of $7.80

NEO, currently the 21st largest coin with the total market value of $527 million, has gained about 1.7% in recent 24 hours to trade at $7.5 at the time of writing. Since the beginning of Tuesday, NEO/USD has gained about 1%. The coin has returned to the levels registered at the beginning of the year,. The annual losses exceed 50%.

 

 

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Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

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