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Ethereum
Ethereum managed to increase by 6.4% this week as it continues to climb higher inside an ascending price channel. The price channel formed at the start of October after ETH found support and reversed at $2800.
Last week, ETH found resistance at $3600, causing it to fall into the support at $3400. It bounced from $3400 on Wednesday as it hit the lower boundary of the price channel. Yesterday, ETH managed to break $3600 and push higher into resistance at $3790 (bearish .786 Fib).
Looking ahead, if the bulls break $3790, the first strong resistance lies at $4000. This is followed by $4060 (1.414 Fib Extension – blue), $4200, $4282, and $4400.
On the other side, the first support lies at $3670. This is followed by $3580 (.236 Fib & lower boundary of the price channel), $3400 (.382 Fib & 50-day MA), $3350, and $3200.
The struggle continues this week for ETH against BTC as it continues to trend lower inside a descending price channel. ETH has been falling against BTC since the start of September when it fell from 0.078 BTC. It continued to fall throughout the two months and eventually broke crucial support at 0.0643 BTC (.618 Fib) last week.
This week, ETH fell as low as 0.06 BTC on Tuesday. More specifically, it found support at a downside 1.414 Fib Extension 0.0615 BTC and the 200-day MA. Since hitting this support, ETH bounced higher but is struggling to overcome resistance at 0.066 BTC.
Looking ahead, the first resistance lies at 0.066 BTC. This is followed by 0.068 BTC (upper angle of the price channel), 0.0691 BTC, 0.07 BTC (50-day MA), and 0.072 BTC.
On the other side, the first support lies at 0.0632 BTC. This is followed by 0.062 BTC (200-day MA), 0.0615 BTC (downside 1.618 Fib Extension), 0.06 BTC, and 0.0588 BTC.
Ripple
XRP managed to climb by a small 5% this week as it remains above the 50-day MA. Like ETH, XRP is also trading inside an ascending price channel that formed at the start of October. At the start of this week, it managed to push above the 50-day MA at $1.10, and it reached as high as $1.25 (Feb 2018 highs).
Unfortunately, XRP could not overcome the resistance at the upper angle of the channel and started to roll over from there. It has remained above the 50-day MA and is testing the support at the lower angle of the channel.
Looking ahead, the first support lies at $1.10 (50-day MA). This is followed by $1.05 (20-day MA), $1.00 (200-day MA), and $0.95 (100-day MA).
On the other side, the first resistance lies at $1.15. This is followed by $1.25 (Feb 2018 highs), $1.36, $1.40, and $1.60 (bearish .786 Fib).
XRP lost crucial ground at 1940 SAT this week as the coin slips into a fresh 2-month-low price today after hitting 1860 SAT (.786 Fib). The coin has been in a descending price channel since the start of September and has been continuously declining.
Last week, the buyers found support at 1940 SAT after slipping beneath 2000 SAT. It was looking like the support at 1940 SAT would hold, but this eventually broke today.
Looking ahead, the first support lies at 1860 SAT (.786 Fib). This is followed by 1800 SAT (July 2020 low), 1735 SAT (.886 Fib), and 1700 SAT.
On the other side, the first resistance lies at 1940 SAT (previous support). This is followed by 2000 SAT, 2075 SAT (20-day MA), 2150 SAT (100-day MA), and 2250 SAT (200-day MA).
Cardano
Cardano struggled this week after falling by 5%, causing it to remain beneath the 20-day MA. The coin found support at $2 at the end of September and has since been trading in a range between $2 and resistance at $2.35 (bearish .382 Fib) in October.
Additionally, ADA is also trading beneath a falling trend line that dates back to the start of September. A break of above it and the upper boundary of the range would allow ADA to start to recover back toward the all-time highs again.
Looking ahead, the first resistance lies at $2.20 (20-day MA). This is followed by $2.35 (bearish .382 Fib), $2.40 (50-day MA), $2.50 (bearish .5 Fib), and $2.65 (bearish .618 Fib).
On the other side, the first support lies at $2.00 (100-day MA & .618 Fib). This is followed by $1.88 (downside 1.414 Fib Extension), $1.80, and $1.72 (200-day MA).
ADA is also suffering tremendously against BTC as it sets a new 2-month-low at 3620 SAT this week. The coin had dropped beneath a descending price channel last week but managed to find support at 4000 SAT.
Unfortunately, ADA would drop beneath 4000 SAT on Monday as it fell beneath the 200-day MA to find support at 3760 SAT (.786 Fib). This support was broke today as ADA slipped to 3620 SAT.
Looking ahead, if the bears push beneath 3620 SAT, the first support lies at 3500 SAT. This is followed by 3410 SAT (downside 1.272 Fib Extension), 3200 SAT, and 2065 SAT (.618 Fib & August support).
On the other side, the first resistance lies at 3760 SAT. This is followed by 4000 SAT (200-day MA), 4295 SAT, 4500 SAT (100-day MA), and 4670 SAT.
Polkadot
DOT is up by a very strong 18% this week as the coin finally pushes back above $40. DOT found support at $26.22 toward the end of September and rebounded from there. It continued higher in the first week of October, allowing it to reach resistance at $37.50 (September resistance).
The September highs were penetrated on Wednesday when DOT surged above $40 to reach as high as $42.50. It has since dropped slightly and is trading around $40.
Looking ahead, the first support lies at $39.20 (.236 Fib). This is followed by $37.50, $34.70, $32.40 (.618 Fib & 50-day MA), and $30.
On the other side, the first resistance lies at $41.35 (bearish .786 Fib). This is followed by $42.50, $45.30 (bearish .886 Fib), $46.70 (1.272 Fi bExtension), $48.50, and $50.
ADA is currently trying to recover back toward the September highs against BTC. The coin found support at the 200-day MA around 6000 SAT earlier in the week and rebounded higher from there.
It would break above the 50-day MA during the week to reach as high as 7500 SAT on Wednesday. More specifically, ADA was unable to close a daily candle above 7286 SAT (bearish .618 Fib) and has since dropped to the 50-day MA.
Looking ahead, the first support lies at 6500 SAT (20-day MA). This is followed by 6000 SAT (200-day MA), 5760 SAT (.5 Fib), and 5500 SAT (100-day MA).
On the other side, the first resistance lies at 7000 SAT. This is followed by 7285 SAT (bearish .618 Fib), 7500 SAT, and 8000 SAT. Added resistance lies at 8310 SAT (bearish .786 Fib), 8500 SAT, and 9000 SAT (bearish .886 Fib).
Polygon
MATIC is up by 20% this week as the coin reached as high as $1.60. MATIC was inside a descending price channel through most of September until support was met at the 200-day MA at around $1.05. From there, it rebounded and broke above the price channel at the start of October.
As October progressed, MATIC struggled to break above $1.35. This caused it to drop to $1.20 on Wednesday, where it rebounded. Today, MATIC exploded to reach as high as $1.60.
Looking ahead, the first resistance lies at $1.60. This is followed by $1.75 (bearish .618 Fib), $1.80 (September highs), $2.00, $2.05, and $2.15.
On the other side, the first support lies at $1.40. This is followed by $1.31 (.382 Fib), $1.17 (.5 Fib), and $1.05 (.618 Fib).
Against BTC, MATIC started the week by falling beneath support at 2277 SAT to reach as low as 2015 SAT (downside 1.414 Fib Extension) on Tuesday.
The bulls regrouped and eventually pushed back above the 200-day MA today to reach as high as 2750 SAT (bearish .5 Fib).
Looking ahead, if the buyers break 2750 SAT, the first resistance lies at 3000 SAT (bearish .618 Fib). This is followed by 3175 SAT (bearish .786 Fib), 3000 SAT, and 3630 SAT.
On the other side, the first support lies at 2500 SAT (200-day MA). This is followed by 2430 SAT (.786 Fib), 2277 SAT (.886 Fib), 2113 SAT, and 2015 SAT.
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