October 9 – Aayush Jindal wrote about BTC, ETH and LINK analysis, and talked about the points to be considered and possible near future scenarios. Although Jindal’s analysis points to positive points for BTC, ETH and LINK, it also highlighted critical resistances that must be overcome for each.
Analyst’s Bitcoin (BTC) Comments: Bitcoin Is Rising But $ 11K Still Matters
- Bitcoin price continued its efforts to clear the $ 10,550 support against the US Dollar and showed a bullish reaction with a momentum from there.
- There was also a break above the bearish trend line observed at the resistance at $ 10,635 on the hourly chart of the BTC / USD pair.
- Bitcoin rose almost 3% in the last 24 hours and managed to break the $ 10,800 resistance.
- BTC, which saw 10 thousand 937 dollars a day until this hour, is currently trading at 10 thousand 889 dollars.
- It looks like a support triangle has formed at around $ 10,880 on the charts.
- The first major resistance the BTC price will face on its upward path is near $ 10,950.
- The critical resistance for Bitcoin is still positioned at $ 11,000.
- A successful closing above this could increase the price up to $ 11,500 in the near term.
In the opposite scenario, the first important support to be held could be 10 thousand 800 dollars and then 10 thousand 700 dollars.
Analyst’s Ethereum (ETH) Comments: If ETH Fails to Exceed $ 355, Drop Is In The Way
- Ethereum has gained a new upward momentum and has gained 4.2% in the past 24 hours.
- ETH price surpassed the $ 340 and $ 342 levels in a recovery wave.
- The ETH / USD pair broke above the key bearish trend line located around $ 342 on the hourly chart and even broke above the $ 350 resistance.
- ETH is currently positioned well above the 100 hourly moving average and is currently being traded at $ 350.
- The price traded as high as $ 353 during the day and the key support level is positioned at $ 349.
- The first resistance on the bullish path for Ethereum is $ 353, while the main resistance is still at $ 355.
- Above this major resistance, a one-day closing could push the price to $ 365 -370 levels.
The first key resistance point in such a rise is observed around $ 380.
- With Ethereum’s failure to clear the $ 355 critical zone, new falls may be on the way.
- In a decline from here, the first support is close to the 100 hourly moving average, at $ 344 – $ 346.
Analyst’s Chainlink (LINK) Comments: LINK has soared by more than 10% in the past 24 hours
- In the bearish grip, LINK found support at $ 8.50 and the price started to rise.
- With this momentum, LINK managed to break the $ 8.80 and $ 9 resistances.
- The LINK / USD pair experienced a break above the bearish trend line observed in the resistance zone at $ 9.30 on the 4-hour charts.
- LINK price is currently at $ 9.58 and the main resistance zone is in the range of $ 9.80 – $ 10.
- With a successful close above this major resistance, LINK could open the doors of bullishness.
- In good scenario, LINK price could climb to $ 11 – $ 11.20.
- In case of a negative correction in the price of LINK, the first support is located at $ 9.25 – $ 9.20.
- The first major support is now near $ 9, and if LINK fails to hold, it could drop to $ 8.50.
- Any further loss from this level can reduce the price to $ 7.20.