Price analysis 10/11: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, DOT, MATIC
The cryptocurrency market has been relatively subdued in recent weeks, with most major coins trading in a narrow range. However, there have been a few notable exceptions, with some altcoins showing signs of strength.
In this article, we will take a look at the price action of the top 10 cryptocurrencies by market capitalization, as of October 11, 2023:
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance Coin (BNB)
- XRP (XRP)
- Solana (SOL)
- Cardano (ADA)
- Dogecoin (DOGE)
- Free TON (TON)
- Polkadot (DOT)
- Polygon (MATIC)
Bitcoin (BTC)
Bitcoin has been trading in a range between $26,000 and $28,000 for the past few weeks. The bulls have been unable to push the price above the $28,000 resistance level, while the bears have also been unable to drive the price below the $26,000 support level.
The technical indicators on the BTC/USDT chart suggest that the pair is likely to remain range-bound in the near term. The 20-day EMA ($27,200) is acting as a resistance level, while the 50-day SMA ($26,500) is acting as a support level.
If the bulls can break above the $28,000 live cryptocurrency prices level, the next target would be the $30,000 level. Conversely, if the bears can break below the $26,000 support level, the next target would be the $24,000 level.
Ethereum (ETH)
Ethereum has been trading in a range between $1,530 and $1,750 for the past few weeks. The bulls have been unable to push the price above the $1,750 resistance level, while the bears have also been unable to drive the price below the $1,530 support level.
The technical indicators on the ETH/USDT chart suggest that the pair is likely to remain range-bound in the near term. The 20-day EMA ($1,640) is acting as a resistance level, while the 50-day SMA ($1,590) is acting as a support level.
If the bulls can break above the $1,750 resistance level, the next target would be the $2,000 level. Conversely, if the bears can break below the $1,530 support level, the next target would be the $1,370 level.
Binance Coin (BNB)
Binance Coin has been one of the strongest performers in the top 10 cryptocurrencies in recent weeks. The coin has been trading in a range between $200 and $220, and is currently testing the $220 resistance level.
The technical indicators on the BNB/USDT chart suggest that the coin is likely to break above the $220 resistance level in the near term. The 20-day EMA ($210) is acting as a support level, and the RSI is above 50, which indicates that the bulls are in control.
If the bulls can break above the $220 resistance level, the next target would be the $235 level. Conversely, if the bears can push the price below the $210 support level, the next target would be the $190 level.
XRP (XRP)
XRP has been trading in a range crypto market cap $0.41 and $0.56 for the past few weeks. The bulls have been unable to push the price above the $0.56 resistance level, while the bears have also been unable to drive the price below the $0.41 support level.
The technical indicators on the XRP/USDT chart suggest that the pair is likely to remain range-bound in the near term. The 20-day EMA ($0.49) is acting as a resistance level, while the 50-day SMA ($0.46) is acting as a support level.
If the bulls can break above the $0.56 resistance level, the next target would be the $0.65 level. Conversely, if the bears can break below the $0.41 support level, the next target would be the $0.36 level.
