Multi-currency analysis: Near Protocol (NEAR) hits a new all-time high and Ethereum (ETH) could follow

BeInCrypto takes a look at seven cryptocurrencies, including ethereum / »class =» autolink »target =» _ blank »> Ethereum (ETH), which is just $ 200 below the new all-time high.

BTC

Bitcoin (BTC) has been down since October 20, when it hit an all-time high of $ 67,016. So far, it has dropped to a low of $ 59,510, which it does on October 24.

main support level is at $ 52,350 – $ 53,350. It is created by the long-term Fib retracement support level 0.382 (black) and the short-term Fibonacci retracement support level 0.5 (white). It is also a horizontal support area.

re is also minor support at $ 56,600.

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ETH

Ethereum (ETH) has moved higher since hitting a low on September 21. It has hit a high of $ 4,374 so far as of October 21.

However, it tapered off almost immediately afterward and created a long top wick in the process (red icon). This was a sign of selling pressure as the bullish move did not hold and the token subsequently fell below the $ 4,160 resistance area.

However, another upward movement began and the close on October 25 was the highest ever (green icon). This goes a long way towards invalidating the previous bearish wick.

ETH is expected to explode and rise considerably thereafter.

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XRP

On October 9, XRP broke a descending resistance line. This indicated that the previous downward movement had come to an end.

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token rose to a high of $ 1.23 on October 20, but was rejected by the 0.618 Fibonacci Retracement Resistance Level at $ 1.20. This is the most common Fibonacci level that acts as resistance.

Although XRP has fallen since then, it remains above the $ 1.04 support area and has bounced above it twice (green icon). This is a signal of buying pressure, as the token has created two lower long wicks.

A break above the $ 1.20 resistance area would greatly accelerate the rate of increase.

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CLOSE

Near Protocol (NEAR) has been on the rise since September 18, when it deviated (red circle) below the horizontal area of ​​$ 7.20. On October 20, it broke out from a descending resistance line, confirming that the correction was complete.

rate of increase accelerated significantly on October 25, when NEAR rose 28% and exploded above the $ 10.20 resistance area. next day, the token hit another all-time high of $ 13.22.

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MATIC

polygon (MATIC) has been increasing since it emerged from a descending wedge on October 1. This confirmed that the correction in force since September 5 had ended.

On October 26, the MATIC broke its September highs of $ 1.80.

next resistance area has turned down to $ 2.42, created by the highest price of all time.

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COMP

Composite (COMP) has been declining within a parallel descending channel since early July. se channels usually contain corrective movements. This means that a breakout is likely.

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Since the beginning of October, COMP has been hovering around the $ 300 support area. On October 25, it started an up move and is moving towards the center of the channel.

most likely scenario would suggest that a breakout will occur.

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CRV

Curve DAO Token (CRV) has been increasing at a gradual rate since May 23.

rate of increase accelerated on October 22 and CRV broke a long-term descending resistance line on October 22.

next resistance area is at $ 6.86, created by the 1.61 Fibonacci outer retracement level of the most recent bearish move.

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For the latest Bitcoin (BTC) analysis from BeInCrypto, click here.

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