Bitcoin and several altcoins are trying to restart their uptrend, but higher levels are likely to witness strong resistance from the bears. Bitcoin has recovered from the dip below $60,000, indicating strong buying at lower levels.
BTC
The long tail on the Oct. 24th candlestick suggests that bulls are attempting to defend the psychologically important support at $60,000. Bitcoin has resumed its up-move and will now try to challenge the overhead resistance zone at $64,854 to $67,000. The rising 20-day exponential moving average of ($58,794) and the relative strength index (RSI) in the positive zone suggest that bulls are in control.
ETH
Ether dropped below $4,027.88 on Oct. 22nd but the bears could not exploit this advantage. The bulls quickly reclaimed the level indicating strong buying on dips. The bulls stoped another attempt by the bears to pull the price below $4,027.88 on Oct. 24, as seen from the long tail on the day’s candlestick.
BNB
The bulls are buying on dips to the 20-day EMA ($461), signifying that the sentiment remains positive. Binance Coin could rise to the stiff overhead resistance at $518.90. A breakout and close above $518.90 will suggest the start of a new up-move. BNB could then attempt to rally to the pattern target at $554.
ADA
ADA broke and closed slightly below the support line of the symmetrical triangle pattern. This suggests that the uncertainty of the past few days may be resolving in favour of the bears. If bears pull the price below $1.09, ADA could start its southward journey toward the strong support at $1.87.
