All major crypto currencies progressed this October and ETH, LTC and XRP prices are also supported
Bitcoin’s price briefly broke the $ 14,000 resistance this Saturday, but the price couldn’t
Ethereum, Litecoin and Ripple are estimated to be a viable investment option
October has been a very positive month for the cryptocurrency market, all major cryptocurrencies have risen and the price of Ethereum, Litecoin and Ripple is also supported by this situation. It is also important to note that Bitcoin’s price briefly broke the $ 14,000 resistance this Saturday, but the price failed to stay above this level.
The price of Ethereum (ETH) is very close to the $ 400 resistance level
Ethereum (ETH) has found strong support around $ 350, but the price is not yet able to stabilize above the $ 400 resistance. Ethereum price is still far from ETH price predictions, but if the price jumps above $ 400, this could be a great opportunity for short-term traders.
Data source: tradingview.com
In this diagram I have marked important resistance and support levels. The major support levels are $ 350 and $ 300, $ 400 and $ 450 represent the resistance levels.
As long as the price remains above this trend line, this cryptocurrency is in the “buy” zone and there is no sign of a trend reversal. If the price falls on the trend line and we get a “bullish” confirmation candle, this would be a great entry point for short term traders trading “stop loss” and “take profit” orders.
If the price jumps above $ 400, it would be a signal to buy Ethereum, and we have the path open at $ 430. There are also some obvious risks involved in buying Ethereum (ETH) and investors should keep in mind that the price could also go down in the next period.
The trend line represents a very strong support level, if the price breaks out of this trend line, it would be a very strong “sell” signal and we have the path open at $ 300.
Litecoin (LTC) price stabilized above the $ 50 support.
The price of Litecoin (LTC) has gone from $ 43 to over $ 60 in the past few weeks and the current price is around $ 55. If you are looking for virtual currencies with good returns, Litecoin is estimated to be a worthwhile investment opportunity.
Litecoin is a very popular cryptocurrency to monitor, as it appears to have a number of advantages over Bitcoin. Litecoin offers faster transaction confirmations (2.5 minutes on average) and Litecoin’s transaction fees are on average significantly lower than Bitcoin’s.
Litecoin found strong support above $ 50 and the technical picture suggests that the price could rise above $ 60 again in the coming days.
Data source: tradingview.com
In this diagram I have marked important resistance and support levels. The major support levels are $ 50, $ 45 and $ 40, $ 60 and $ 70 represent the resistance levels. If the price jumps above $ 60 again, it would be a signal to buy Litecoin (LTC) and we have the path open at $ 65.
A rise above the $ 70 level supports the continuation of the uptrend and the next price target could be around $ 80. On the other hand, if the price falls below $ 50, this would be a signal of “sale” and we have the path open at $ 45.
Ripple (XRP) is not yet able to break out of the $ 0.30 resistance.
The ripple is holding above the all important $ 0.20 support level against the US dollar, but the price is still unable to break out of the $ 0.30 resistance. In my opinion, Ripple currently has a very good risk / reward ratio in the cryptocurrency market, and investors in this cryptocurrency can earn a lot more by taking on relatively less risk.
Data source: tradingview.com
According to the rules of technical analysis, the current trend of this cryptocurrency is neutral-bullish. The current resistance levels are $ 0.26, $ 0.28 and $ 0.30, $ 0.22 and $ 0.20 represent the strong support levels.
If the price jumps above $ 0.26, it would be a signal to buy ripple (XRP) and we have the open path at $ 0.30. A rise above $ 0.30 supports the continuation of the uptrend and the next price target could be $ 0.35.
If the price falls in the next period, any price between $ 0.15 and $ 0.20 could be a great opportunity to invest in Ripple.
Summary
October has been a very positive month for the cryptocurrency market, all major cryptocurrencies have risen and the price of Ethereum, Litecoin and Ripple is also supported by this situation. Given that Bitcoin dominates the overall cryptocurrency market, it’s no surprise that the big legacy coins are following BTC’s lead. Bitcoin’s price briefly broke the $ 14,000 resistance this Saturday and some analysts believe that BTC could start an even higher trade in the coming days. This is certainly positive news for the future price of Ethereum, Litecoin and Ripple.
