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.


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.

TradingView Chart


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.

TradingView Chart


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

Read also Banks need to accelerate CBDC development, says BIS official

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.

TradingView Chart


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.

TradingView Chart


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.

TradingView Chart


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.

Read Also AMC Will Support Ethereum, Litecoin And Bitcoin Cash After BTC Adoption

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.

TradingView Chart


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.

TradingView Chart

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

What do you think about this topic? Write us and tell us!


All information on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is strictly at your own risk.

Source link


Related Posts

© 2024 Cryptocoin