Analysis of prices on 10/28: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Bitcoin price saw a positive start to the week as it surpassed the $69,000 resistance level. This shows that the upward movement for Bitcoin is still going strong. According to Bitcoin analyst Alessandro Ottaviani, Bitcoin exchange-traded funds in the US have seen an influx of $3 billion in the last two weeks, contributing to Bitcoin’s strong performance.

Looking ahead, events like the US elections and the Federal Reserve’s rate decision in November could have a significant impact on the cryptocurrency markets. Meanwhile, Bitcoin whales are using the sideways price action to accumulate more BTC, with wallets holding 100 Bitcoin or more increasing by 1.9% in the past two weeks.

As Bitcoin makes its way towards the $70,000 level, could we see a boost in altcoin purchases? Let’s delve into the charts to see what lies ahead.

The S&P 500 Index experienced a corrective phase last week, but as long as the price remains above the uptrend line, the trend is positive. Breaking above the 5,879 resistance level could signal a continuation of the uptrend, with potential targets at 6,000 and 6,221. On the flip side, failure to hold above the uptrend line could lead to a drop to 5,670, a critical level to watch out for.

The US Dollar Index is showing signs of tiring near the resistance level of 104.80. While immediate support is at 103.93, a drop below this could see a test of the 20-day exponential moving average at 103.25. On the upside, a bounce off the 20-day EMA could pave the way for a rally towards 106.

Bitcoin is steadily climbing towards $70,000, with indicators like upsloping moving averages and a positive RSI suggesting buyer dominance. A breakthrough above $70,000 could propel Bitcoin towards $72,000, while a drop below the 20-day EMA at $66,452 might signal a weakening bullish momentum.

Ether dipped below the 50-day SMA but found support at the ascending channel pattern line. It is crucial to watch the 20-day EMA at $2,539, where a rejection could lead to a decline towards the support zone of $2,150 to $2,111. On the other hand, a push above the moving averages could trigger a rally towards the channel’s resistance line at $2,850.

BNB bounced off the 50-day SMA and moved above the 20-day EMA, setting its sights on the overhead resistance of $635. Failure to maintain above the 20-day EMA could see a drop towards $527. Similarly, Solana is attempting a rally towards the resistance at $210 but faces a strong challenge at $179. A break above $179 could lead to a surge towards $189.

XRP turned down from the 20-day EMA at $0.53 and broke below the $0.50 support level. A move below $0.46 could see sellers stepping in, while a push above the 50-day SMA at $0.55 might signal a reduction in selling pressure. As for Dogecoin, a move above $0.15 could lead to a surge towards $0.18, while a sharp decline might signal bearish activity.

Toncoin rebounded off the support zone between $4.72 and $4.44, but struggles to move above the moving averages. A break below $4.44 could strengthen the sellers’ position, while staying above this level could pave the way for further upside.