BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, DOT, MATIC: Technical Analysis for October 4th

The United States 10-year Treasury yields reached their highest level since 2007, sparking concerns of a recession. Arthur Hayes, former CEO of BitMEX, predicts that the government will print money to save the bond market, potentially triggering a cryptocurrency bull market. Moreover, institutional investors are showing increased interest in cryptocurrencies.

Bitcoin Price Analysis

The Bitcoin (BTC) price rose above $28,000 but faced resistance, forming a double-bottom pattern. A close above the resistance at $28,143 could lead to a price target of $31,486. However, a drop below the 20-day exponential moving average (EMA) at $26,903 could signal a consolidation phase.

Ether Price Analysis

Ether (ETH) faced strong resistance at $1,746 and is currently consolidating between $1,531 and $1,746. A break above the resistance could trigger a rally to $1,961, while a drop below the moving averages may prolong the consolidation.

BNB Price Analysis

BNB (BNB) faced resistance at $220 and is currently trading near the 20-day EMA at $214. A close above this resistance could lead to an up-move to $235 and $250. However, a break below the uptrend line may result in a decline to $203.

XRP Price Analysis

XRP (XRP) broke out of a symmetrical triangle pattern and is aiming for the resistance at $0.56. A successful break above this level could start a new uptrend. Conversely, a drop below the uptrend line may keep the price range-bound between $0.56 and $0.41.

Solana Price Analysis

Solana (SOL) is trading within a range between $14 and $27.12 and has formed a potential inverse head and shoulders pattern. A break above the neckline could lead to a rally towards $27.12 and a pattern target of $32.81. A drop below the 20-day EMA at $20.95 could weaken the bullish scenario.

Cardano Price Analysis

Cardano (ADA) is testing the 20-day EMA support at $0.25. A bounce from this level could lead to a rally towards $0.29 and $0.32. However, a break below the 20-day EMA may result in a drop to the vital support at $0.24.

Dogecoin Price Analysis

Dogecoin (DOGE) faced resistance at the 50-day simple moving average (SMA) and is currently testing the support at $0.06. A break below this level could lead to a decline towards $0.055. A close above the 50-day SMA could indicate a shift in sentiment.

Toncoin Price Analysis

Toncoin (TON) fell below the 20-day EMA at $2.09 and is trading near the 50-day SMA at $1.86. A break below this support could lead to a further decline, while a surge above the 20-day EMA could indicate a rejection of lower levels.

Polkadot Price Analysis

Polkadot (DOT) faced resistance at the 50-day SMA and dropped below the 20-day EMA. The support at $3.91 held strong, indicating buying at lower levels. To confirm a sustained recovery, the price needs to break above the 20-day EMA.

Polygon Price Analysis

Polygon (MATIC) is battling between the bulls and bears near the moving averages. A break above the resistance at $0.60 could lead to a sustained recovery towards $0.70. Conversely, a drop below the 20-day EMA may result in a retest of the support at $0.49.

Editor’s Notes

Looking for the latest news, analysis, and insights on cryptocurrencies? Check out Uber Crypto News for all the latest updates! Stay informed and stay ahead in the crypto market.