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Price analysis 10/27: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, MATIC

Price analysis 10/27: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, MATIC


Bitcoin (BTC) has been trading above $33,600 for the past two days, indicating that the bulls are not in a hurry to sell. If the price remains stable and doesn’t give up much ground, it could create fear of missing out (FOMO) and lead to another round of buying. However, these rallies are usually not sustainable and eventually, the price will drop and retest breakout levels. Therefore, there is a possibility that Bitcoin could drop to $32,000.

Bitcoin’s dominance in the market has risen to 54%, its highest level in 30 months. This indicates that Bitcoin is leading the upward trend, which is a positive sign. It suggests that traders have a favorable view of the cryptocurrency market and other altcoins may also see a rise in the near future.

Veteran trader Peter Brandt believes that Bitcoin’s bottom is in, but he doesn’t expect new all-time highs until the third quarter of 2024. He predicts that Bitcoin will enter a period of volatility.

The charts of the top 10 cryptocurrencies show that Bitcoin is facing resistance at $35,000, but the bulls are still holding their ground. This suggests that the buyers may try to resume the upward movement. However, there is a possibility of a minor correction or consolidation in the near term.

Ether (ETH) has strong support at $1,855, and if the price rebounds from this level, the bulls will try to push it above $2,000. On the other hand, if the price falls below $1,746, it could test the 20-day exponential moving average (EMA).

BNB (BNB) turned down from $235, but buyers are defending the support level at $223. If the price rebounds from this level, it could rise above $235 and reach $250 and $265. However, a drop below $223 would favor the bears.

XRP (XRP) is facing resistance at $0.56, and the bears are trying to push the price below the 20-day EMA. If the price rebounds from this level, it could break above $0.56 and reach $0.71. However, a drop below the 50-day simple moving average (SMA) would indicate a range-bound action.

Solana (SOL) has been trading near the target of $32.81, and buyers are preventing the bears from taking control. There may be some consolidation or a minor dip before a potential rally to $38.79.

Cardano (ADA) has been trading above $0.28, but the bulls haven’t started a strong relief rally. If the price falls below $0.28, it could drop to the 20-day EMA. However, a rise above $0.30 would signal a potential move towards $0.32 and $0.38.

Dogecoin (DOGE) has seen aggressive buying in its recovery, but the bears are trying to pull the price below $0.07. If they succeed, the price could drop to the 20-day EMA. Otherwise, a rebound from $0.07 could push the price to $0.08.

Toncoin (TON) found support at the moving averages, but the bulls haven’t started a strong rebound. The price could slide to the crucial support at $1.89, indicating consolidation between $1.89 and $2.31.

Chainlink (LINK) is facing selling near $11.50, but the bulls are holding their ground. The important support levels to watch are $9.50 and the 20-day EMA. Buyers are expected to defend this zone.

Polygon (MATIC) broke above $0.60 resistance, but there is hesitancy to continue buying at higher levels. The support levels to watch are $0.60 and the 20-day EMA.