TRENDING:

US midterms

Oil price

How long is the altcoins' dominance going to last?

Denys Serhiichuk U.Today

Bears have seized the initiative on the last day of the week. XRP remains the only coin trading in the green zone.

Top 10 coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) could not finish the week under bulls' dominance. The price of the main crypto has fallen by 5.66% over the last seven days.

BTC/USD chart by TradingView

On the daily chart, Bitcon (BTC) keeps trading above $56,000, which means that there are still high chances of seeing a restest of the peak around $62,000.

Only if bears push the rate below $59,000 will they seize the long-term initiative.

Bitcoin is trading at $57,000 at press time.

ADA/USD

Cardano (ADA) is the top loser today. The price of the coin has gone down by almost 5%.

ADA/USD chart by TradingView

Despite the price decrease, bears have not seized the initiative as the altcoin keeps trading in a range between $1.18 and $1.33. At the moment, sideways trading is the more likely scenario, which means that the upper channel boundary may be tested.

Cardano is trading at $1.20 at press time.

BNB/USD

Binance Coin (BNB) has lost the least today. The rate of the native exchange token has gone down by only 2%.

BNB/USD chart by TradingView

On the daily time frame, Binance Coin (BNB) is approaching the first resistance at $282. The selling volume is low, which means that there are chances to break it and go to the next zone around $300.

BNB is trading at $263 at press time.

LTC/USD

Litecoin (LTC) is not an exception to our rule as the "digital silver" could not keep trading in the bullish zone.

LTC/USD chart by TradingView

Litecoin (LTC) has retested the MA 50 on the daily chart, confirming bulls' potential to keep the growth going. If buyers break the first obstacle at $208, they will move to the closest one around $227.

Litecoin is trading at $196 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

U.Today

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

Ripple ticks higher as selling pressure eases amid whale net outflows

Ripple edges higher near $1.30 on Wednesday, building on a broader crypto market recovery wave. The uptick comes amid the US midterm elections, in which the Democratic Party has clinched victory in the Senate and is on track to gain control of Congress.

Crypto Today: Bitcoin, Ethereum, XRP extend advance as US Dollar slides on Democrats' US midterm victory

Bitcoin trades above $78,000 on Wednesday as risk-on sentiment improves in the broader cryptocurrency market. Ethereum mirrors BTC’s recovery outlook, hovering above $2,300. Ripple similarly exchanges hands above $1.28, marking two consecutive days of gains.

Pi Network Price Forecast: Bullish breakout hopes fade as PI approaches record lows

Pi Network (PI) is trading in the red on Wednesday, hovering around $0.0755, with a downside risk toward the $0.0704 record low. The retail activity in the derivatives market declines as PI futures Open Interest plunges to nearly $7.50 million.

US midterm elections set up a potential volatility shock for BTC

Bitcoin holds above the key 200-day EMA but remains capped by the 100-day EMA, with a breakout in either direction likely to determine its next directional bias. Analysts remain bullish on BTC but expect a significant price swing in either direction, favoring volatility-based strategies over directional bets.

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.

How long is the altcoins' dominance going to last?