Analysis of Prices on 10/30: Bitcoin, Ethereum, Binance Coin, Solana, Ripple, Dogecoin, TON, Cardano, Avalanche, Shiba Inu

Bitcoin (BTC) bulls made a push but didn’t hit a new all-time high on Oct. 29. The good news is that they didn’t lose much ground to the bears on Oct. 30, indicating they might be gearing up for another move higher.

The United States Bitcoin exchange-traded funds saw a big influx of $827 million on Oct. 29, showing that investors are hopeful for a positive resolution to the current sideways price action. Research firm 10x Research even predicts that Bitcoin could hit $100,000 by January 2025.

Traders are getting ready for a potential breakout in anticipation of the U.S. presidential election results on Nov. 5, where a Donald Trump victory is on their radar. However, seasoned traders know to be cautious as they often “buy the rumor and sell the news.”

But what does this mean for Bitcoin’s $70,000 level during the pullback? And how will altcoins fare? Let’s dive into the charts of the top 10 cryptocurrencies to see what might be in store.

Bitcoin saw a nice surge after breaking the $69,520 resistance, with the price almost hitting a new record high on Oct. 29. The current upward trend, as indicated by the 20-day moving average and the RSI, suggests more gains to come. Breaking above $73,777 could signal a new uptrend, with a potential target of $93,554.

Ethereum (ETH) has been trading in an ascending channel pattern recently, bouncing off the support line on Oct. 25 and clearing the $2,565 hurdle on Oct. 28. A move past the resistance line could indicate a momentum shift, potentially leading to higher prices.

As for BNB, buyers are eyeing a move toward $635 but have been met with resistance around $612. The current trend slightly favors buyers, with a possible rally to $722 if the price bounces off the 20-day moving average.

Solana (SOL) broke above $179 but faced selling pressure shortly after. If the price holds above the 20-day EMA, we might see another attempt to reach $189. On the other hand, a drop below the 20-day EMA could signal a move to $151.

XRP is struggling to recover, facing selling pressure near the 20-day EMA. A break below $0.50 could indicate further downside, while a move above the 50-day SMA may pave the way for a rally to $0.64.

Dogecoin (DOGE) is on the rise after breaking the $0.15 resistance, eyeing $0.18 next. Sellers could step in at this level, but a sustained rally could push the price to $0.23.

Toncoin (TON) found strong support at $4.44, leading to a bounce. The current resistance at the 20-day EMA could be a key level to watch, with a move above the 50-day SMA potentially signaling a rally to $6.

Cardano (ADA) rebounded from solid support at $0.31, aiming for the $0.40 level next. Breaking this barrier could lead to further gains, while a retreat from $0.40 might indicate more consolidation.

Avalanche (AVAX) broke below a support line but could see a reversal if it holds above the current level. Watch for a move back above the symmetrical triangle pattern for a potential rally.

Keep an eye on these levels and patterns as the market continues to evolve. Happy trading!