Altcoins are carving out gains as Bitcoin price continues to trade within a tightening range.
BTC
Bitcoin broke above the 20-day exponential moving average of $19,410 and the bulls are attempting to extend the recovery above the zone between the 50-day simple moving average of $19,691 and the downtrend line. If they succeed, BTC could rise to the stiff resistance at $20,500. This level has acted as a strong barrier since Sept. 14. Therefore, a break and close above $20,500 could indicate that the selling pressure could be reducing.
ETH
Ether’s recovery has reached the breakdown level from the triangle. The 20-day exponential moving average of $1,323 is located close to this level. Hence, the bears are expected to defend the level aggressively. If the price turns down from the current level and breaks below $1,263, ETH pair could retest the Oct. 13 intraday low at $1,190.
BNB
BNB has been consolidating between $258 and $300 for the past several days. The bulls are trying to push the price above the moving averages. If they succeed, the BNB could attempt a rally to the resistance of the range at $300. The bears are likely to defend this level.
XRP
The price action of the past few days has formed a large symmetrical triangle for XRP Buyers tried to push the price toward the resistance line of the triangle , but the long wick on the candlestick shows aggressive selling at higher levels. If the price sustains below the 20-day EMA of $0.47, XRP could slide to the support line of the triangle. This level could attract buyers, and a strong rebound off it will suggest that the pair may continue to trade inside the triangle.
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