BNB has experienced a slight increase in buying pressure on Saturday. As a result, it is up by a few percent, erasing more than half its losses on Friday.
Nonetheless, the asset was not exempt from the massive decline the crypto market had during the week. BNB saw massive losses and printed a red candle on the 1-week chart.
Aside from BNB, other altcoins registered significant losses over the last few days. One of the top losers was FET. It has trended downhill for most of October. The current week is no exception, with a loss of over 31%.
The cryptocurrency joins the broader market trend as most cryptocurrencies registered notable declines. It also reflects on the global cryptocurrency market, which has decreased by over 6% in the last five days.
Due to the trends across the crypto market, investors are exhibiting fear. The fear and greed index dropped to 25, one of its lowest readings.
Regarding fundamentals, there are no significant ones to cause a massive shift in investors’ sentiment. The excitement from Powell’s speech faded a few hours later.
Following the brief overview of what happened over the last five days. Let’s examine how top assets will perform in the coming days.
BTC/USD
Bitcoin is trading slightly below $107k following its recent retracement on Friday. It retraced from $109,261 to a low of $103,530 before rebounding.
The apex coin prints a green candle at the time of writing, marking its first green on the 1-day chart since Tuesday. However, the improvement is not significant due to low trading volume.
On the 4-hour chart, the trend of low volatility persists. Since its rebound on Friday, the asset has not registered any significant price movement, as the chart reveals several tiny candles. However, this may mean the asset is gearing up for a breakout.
The bollinger band suggests it may be upwards. BTC previously broke out of the lower band but is trading slightly above it at the time of writing. A closer look at the charts shows that all week, the middle band has acted as a resistance. If this plays out again, the coin may edge closer to $109k.
ETH/USD
Ethereum is having the same trend as BTC, remaining rangebound for most of the last 48 hours. The price pattern followed a gradual recovery from Friday’s dip, during which the asset retraced to a low of $3,673.
ETH rebounded afterward but was almost stagnant for most of the previous intraday session. The price trajectory remains the same on Sunday, as the altcoin has yet to register any significant increases. However, this may mean that it is gearing up for a breakout.
For a while now, bollinger’s middle band has served as a resistance. The asset is trading above it but has not decisively flipped it. Nonetheless, it has previously served as support. If this repeats, ETH may surge, breaking above $4k.
Readings from the moving average convergence divergence show that the altcoin had a bullish divergence a few days ago, supporting the previous statement.
XRP/USD
XRP is not exempt from the prevalent trend across the top 10. Following its rebound on Friday and a slight price recovery in the early hours of Saturday, it has primarily been rangebound, moving between a small region.
However, the price consolidation may point to an impending breakout. MACD suggests that the likelihood of this happening is increased as it displayed a positive crossover during the previous intraday session on the 4-hour chart.
Currently trading around bollinger’s middle band, it will look to surge higher. Its next target may be the upper band at $2.43.
BNB/USD
BNB is trading at $1,082, slightly above the two-day low. It may slip lower and rebound at the mark as it has maintained over the last 24 hours. A look at the 4-hour chart shows the asset was rangebound for most of the highlighted period.
Nonetheless, its recent price trend has spurred convictions of an impending massive price shift. The asset may break out from its current trend, and indicators favor a surge. For example, the moving average convergence divergence had a bullish crossover on Saturday.
However, there is notable selling pressure at bollinger’s middle band. BNB may break above $1,110 and retest the mark. Flipping the mark will see the altcoin reclaim $1,200.
SOL/USD
The 4-hour chart shows that, like BNB, SOL is also rangebound. A closer shows that it traded within the bounds of $188 and $183. It maintains this trend over the last 24 hours and shows no signs of an impending breakout.
Trading at $184 at the time of writing, the asset may decline to the highlighted support before surging. However, MACD suggests that the current trend may end soon. As with other assets in the top 10, Solana displayed a bullish divergence.
If the MACD readings hold, the asset will break out of its current consolidation. It next target will be bollinger’s upper band at $193.
DOGE/USD
DOGE is veering closer $0.186 after experiencing notable rejections at $0.190. The 4-hour chart shows that the recent event is not a standalone event, as this was the trend for most of the previous intraday session.
Since it rebounded on Friday, the asset has mostly consolidated. While this suggests growing uncertainty, it also hints at an impending breakout. The moving average convergence divergence favors an upward push in the event of a breakout.
The asset may struggle to break above its closest barrier at $0.19. However, after flipping it, the memecoin may retest $0.20.
ADA/USD
Cardano retraced to a low of $0.592 on Friday but rebounded. However, the recovery ended at $0.63, and a slight retracement to $0.62 followed. The asset continued oscillating between the two marks for most of the previous intraday session.
The trend is ongoing, and a breakout may not happen on Sunday as the market sees reduced trading volume over the weekend. Nonetheless, it may occur on Monday, and indicators are pointing to an uptrend once it happens.
For example, the moving average convergence divergence had a bullish crossover on Saturday.
However, there is notable selling pressure at bollinger’s middle band. ADA may break above $0.63 and retest the mark, and flipping the mark will see the altcoin reclaim $0.68.
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