Ethereum (ETH)
Ethereum had a successful week, experiencing a 12.3% increase in price and reentering the ascending triangle pattern, signaling a bullish trend. If this momentum continues, ETH could reach the resistance level at $2,100, with support now at $1,665. The price action has turned bullish, and buyers may continue to drive it higher in the coming days, allowing Ethereum to catch up with Bitcoin’s performance in October.
Ripple (XRP)
XRP had a decent week with a 7% price increase but faced rejection at the key resistance of 57 cents. Currently in a pullback phase, XRP is unlikely to move higher as buyers take a break. However, if the pullback ends, XRP may attempt to break the resistance again or find support just below 50 cents.
Cardano (ADA)
Cardano had an impressive week, seeing a 13.7% increase in valuation and breaking above 28 cents. It is currently challenging the resistance at 30 cents. Sellers pushed the price down when it approached 30 cents, so ADA might test support at 28 cents before attempting another breakout. With a bullish outlook for the overall crypto market, Cardano could continue to perform well in the coming weeks.
Shiba Inu (SHIB)
Shiba Inu experienced similar price action to ADA and achieved a 13% increase this week. With new buying volume, this meme coin seems to have gained traction. The current resistance is at $0.0000084, and support is at $0.000077. While buyers are taking a break now, they could resume their offensive soon. As long as SHIB holds above the key support level, higher prices are likely.
Solana (SOL)
Solana had a remarkable month in October, and this week alone, it saw a significant 23% increase in price, making it the best performer on our list. It is currently challenging the resistance at $32, and breaking this level could pave the way for SOL to move closer to $40. However, momentum indicators like the RSI suggest that SOL is overbought, which might attract sellers and lead to a pullback.
Hot Take: The Bullish Run Continues for Ethereum, Ripple, Cardano, Shiba Inu, and Solana
This week has been positive for several cryptocurrencies. Ethereum’s bullish momentum may help it catch up with Bitcoin’s performance. Ripple faces resistance but has good support levels. Cardano broke key levels and remains bullish. Shiba Inu saw a surge in buying volume and holds potential for higher prices. Solana experienced significant growth but may encounter resistance due to being overbought. Overall, these cryptocurrencies show promise for continued positive trends in the coming weeks.
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