Avalanche Bulls Handle The Wheels As Avax Could Break $18.5 Resistance

• AVAX’s price shows strength as it bounces from a downtrend range price rallied to a high of $18 with eyes set on $20. 
• AVAX could rally more as the price creates more bullish bias breaking out of its descending triangle with good volume as the price could rally to $20. 
• AVAX’s price remains strong on the daily timeframe as the price attempts to break above the 50 Exponential Moving Average (EMA) as the price aims for more rallies.

Avalanche (AVAX) has had a difficult year as the price has remained in a downward trend, but the price of AVAX may be about to change as it broke out of its daily descending triangle with good volume. The crypto market has looked more promising recently, with Bitcoin (BTC) and Ethereum (ETH) showing impressive price movement. AVAX’s price has risen from $15 to $18 as it attempts to grab the market by its horns. (Data from Binance)

Avalanche (AVAX) Price Analysis On The Weekly Chart

Avalanche (AVAX) has struggled to regain its bullish momentum in recent times as the price has had a more quiet time, ranging in a weekly low of $15; despite the uncertainty that has befallen the crypto space, the price of AVAX held its ground as price defended its key support area of $15.

Before it could continue to trend higher, AVAX’s price needed to replicate the rally that took it to an all-time high of $150.

After trading in a range for weeks as the price appeared difficult to trade due to little to no volume to push the price higher as the price appeared stagnated, the price of AVAX finally showed some movement after being rejuvenated strength as a result of the current market and as a result of the crypto market looking more encouraging in recent times.

Weekly resistance for the price of AVAX – $20-$22.

Weekly support for the price of AVAX – $15.

Price Analysis Of AVAX On The Daily (1D) Chart

Daily AVAX Price Chart | Source: AVAXUSDT On Tradingview.com

In the daily timeframe, the price of AVAX remains bullish, having rallied to a high of $18 after breaking out of its descending triangle with good volume. However, the price of AVAX may face resistance to the trend to the $25 region.

AVAX must break and hold above $20.5 to trend higher to the $25 region, a key supply zone for most traders.

The Fibonacci retracement (Fib) value of 23.6% indicates that AVAX’s price was rejected as it attempted to break above this key value. The $18.3 price corresponds to a Fib value of 23.6%. If AVAX closes above this level, the price could rise to $21 and possibly $25.

Daily resistance for the AVAX price – $22-$25.

Daily support for the AVAX price – $16.2.

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Why Bitcoin (BTC) Could Not Surpass Litecoin (LTC) In This Key Area

Bitcoin is slowly losing its grip on the bullish momentum it had for the last couple of days, declining by 2.7% over the last 24 hours.

At press time, according to tracking from Coingecko, the alpha crypto is trading at $20,392 and is once again showing a little sign of retreat in the past few hours.

• Bitcoin struggles to break past the $20,500 marker
• Despite bull run, BTC failed to enter the top 10 list of Galaxy Score
• LTC leaves Bitcoin behind after cracking the LunarCrash’s metric list

At times like these, the largest cryptocurrency in terms of market capitalization seems vulnerable and can be outperformed even by some of the lesser known altcoins like Litecoin (LTC).

Such was the case with Galaxy Score – a metric provided by LunarCrush designed to provide help in understanding crypto movement through extensive data analysis.

Litecoin managed to enter the top 10 list while Bitcoin was left out – a development that came as a surprise.

Bitcoin Misses Out On A Potential Bullish Signal

While Galaxy Score is not a dominant and prominent indicator that can determine the trajectory of a crypto asset’s price movement, being included in its top list usually indicates a bullish rally.

Litecoin took the 6th spot in the recent ranking, coming behind Collie Inu, Flux, AmpliFi, Neblio and Callisto Network while outranking WadzPay, OKB, SONM and Ambrosus.

Meanwhile, Bitcoin wasn’t included on the list despite its massive surge and undeniable popularity.

LTC also racks up another positive development as it was listed by CeFi and DeFi platform Blockbank. This will help new investors to enter the Litecoin community as well as increase the asset’s reach.

However, according to latest data from Coingecko, LTC is trading at $53.78 and while it has been down by 4.1% over the last day, it is still up by 5% both on its weekly and biweekly charts.

Litecoin Headed Towards Another Upward Movement

Despite the price dump that Litecoin experienced over the last 24 hours, its technical indicators are hinting at a northbound movement that will help the asset increase its value in the coming days.

Source: TradingView

In particular, its Relative Strength Index (RSI) and Chaikin Money Flow (FLOW) are both positioned above the neutral zone, indicating a bullish rally is on the horizon for the crypto.

Furthermore, Litecoin’s 20-day Exponential Moving Average (EMA) is rapidly heading towards the 50-day EMA, confirming the positive thesis.

Lastly, the Bollinger Band revealed that the asset’s spot trading price is on its way to the high volatility zone.

All of these and other market indicators are giving investors a reason to be optimistic as a continued price surge for LTC is likely to happen.

If this happens, Litecoin will also prove that its gains over the last few days are not merely due to the crypto market rally fuelled by the likes of Bitcoin and Ethereum.

LTC total market cap at $3.8 billion on the daily chart | Featured image from ITNext, Chart: TradingView.com Disclaimer: The analysis is based on the author's personal knowledge and should not be construed as investment advice.

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Ocean Protocol (OCEAN) Breaks Out With Bullish Bias, Will $0.25 Play Out?

• OCEAN’s price shows strength as it bounces from a downtrend range price rallied to a high of $0.18 with eyes set on $0.25. 
• OCEAN could rally more as the price creates more bullish bias breaking out of its descending triangle with good volume as the price could rally to $0.25. 
• OCEAN’s price remains strong on the daily timeframe above the 50 Exponential Moving Average (EMA) as the price aims for more rallies.

Ocean Protocol (OCEAN) has had a tough time this year as the price has maintained a downtrend, but the price of OCEAN could be set for a change as Ocean Protocol breaks out of its daily descending triangle with good volume. The past few days have seen the crypto market has looked more decent, with the likes of Bitcoin (BTC) and Ethereum (ETH) showing some great price movement in recent times. OCEAN’s price rallied from $0.15 to a region of $0.184 as the price aims to take the market by its horn. (Data from Binance)

Ocean Protocol (OCEAN) Price Analysis On The Weekly Chart.

In recent times, Ocean Protocol (OCEAN) has struggled to regain its bullish momentum as the price has had a more quiet time ranging in a weekly low of $0.15; despite the uncertainty that has befallen the crypto space, the price of OCEAN held its ground as price defended its key support area of $0.15. 

OCEAN’s price had yet to replicate its rally that took the price of OCEAN to an all-time high of $2 before it faced rejection to trend higher.

After trading in a range for weeks as the price continued to look difficult to trade due to little to no volume to push the price higher as the price continued to look stagnated, the price of OCEAN finally showed some movement, with the crypto market looking more encouraging in recent times.

Weekly resistance for the price of OCEAN – $0.25.

Weekly support for the price of OCEAN – $0.15.

Price Analysis Of OCEAN On The Daily (1D) Chart

Daily OCEAN Price Chart | Source: OCEANUSDT On Tradingview.com

In the daily timeframe, the price of OCEAN continues to show a more bullish scenario as the price rallied to a high of $0.185 after breaking out its descending triangle with good volume. However, the price of OCEAN could face resistance to the trend to a region of $0.3. 

The price of OCEAN needs to break and hold above $0.185 for the price to trend higher to a region of $0.25, which is a key supply zone for most traders. 

The Fibonacci retracement (Fib) value of 38.2% indicates OCEAN’s price faced a rejection to trend higher as the price tried to break above this key value. The price of $0.184 corresponds to the Fib value of 38.2%. If the price of OCEAN closes above this level, we could see a rally to $0.25.

Daily resistance for the OCEAN price – $0.25.

Daily support for the OCEAN price – $0.16

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Polkadot Price Depreciates, Will The Bulls Be Able To Defend This Support Line?

Polkadot price has retraced on its chart over the last 24 hours. The coin has started to register sideways movement on its one-day chart. During this period, the coin lost close to 2% of its market value.

In the last week, DOT registered more than 6% appreciation, which caused the bulls to gain stamina and break past the consolidation phase.

The technical outlook for the coin remained positive; however, the indicators indicated that the bullish momentum was fading off the charts.

Bitcoin also retraced slightly on its chart. Many altcoins have also started to trade sideways following BTC’s price action.

Bulls for Polkadot price can make a comeback if the coin manages to push above the $6.70 price mark. Consistent lateral trading can cause the altcoin to dip further on its chart.

It is important that Polkadot price remains above its local support level of $6.30. If the coin loses that support line, then there could be a further downfall.

The broader market continues to show mixed trading signals, with some coins losing strength while the likes of Dogecoin and Shiba Inu gain further bullish momentum.

Polkadot Price Analysis: One-Day Chart

Polkadot was priced at $6.36 on the one-day chart | Source: DOTUSD on TradingView

DOT was trading at $6.36 at the time of writing.

The altcoin had witnessed weeks of price consolidation until Bitcoin finally registered bullish price action.

Even though Polkadot’s bulls pushed hard to break past the $6 price mark, the coin has seemed to lose its bullish strength.

Immediate resistance for Polkadot stands at $6.70. Moving above that level can help DOT to trade closer to the $7 price mark.

That level can help the coin claim the bulls back again.

The closest support line that Polkadot has to defend is at $6.30. Losing this line will drag the price of the altcoin to $5.80. The amount of Polkadot traded in the last session fell slightly, indicating that selling pressure increased.

Technical Analysis

Polkadot registered a fall in buying strength on the one-day chart | Source: DOTUSD on TradingView

The altcoin swiftly moved into the positive buying zone as soon as it gained its value. However, at press time, it registered a downtick in buying pressure.

The Relative Strength Index was above the half-line but it displayed a downward movement, indicating a fall in buyers and demand for the altcoin.

Polkadot price was also moving below the 20-SMA line, indicating that demand was declining and that sellers were driving price momentum.

Polkadot displayed a fall in capital inflows on the one-day chart | Source: DOTUSD on TradingView

Other technical indicators also indicated that the bulls were slowly fading out of the market. The Awesome Oscillator depicts the price momentum, it formed green histograms under the half-line.

This formation meant that the coin was about to witness a further fall in price.

The Chaikin Money Flow accounts for the capital inflows and outflows of the asset.

The indicator was on the half-line with a downtick, signifying that capital inflows declined over the last 24 hours.

Featured image from FinanceFeeds, chart from TradingView.com

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Dogecoin (DOGE) Clears Key Resistance; Here Is Why $0.1 Is On The Cards

• DOGE’s price shows strength as it bounces from a downtrend range as price rallied to a high of $0.085 with eyes set on $0.1. 
• DOGE could rally more if the price breaks and closes above $0.1 with good volume, as the price of DOGE looks bullish now. 
• DOGE’s price remains strong on the daily timeframe above the 50 and 200 Exponential Moving Averages (EMA) as the price aims for more rallies.

The price of Dogecoin (DOGE) has been one of the standout performers during the past few days, gaining the attention of many traders with the news of Elon Musk finalizing the ownership of Twitter becoming an increasingly fundamental to propel the price of Dogecoin (DOGE) to $0.1. The past few days have seen the crypto market has looked more decent, with the likes of Bitcoin (BTC) and Ethereum (ETH) showing some great price movement in recent times. DOGE’s price rallied from $0.05 to a region of $0.085 as the price aims to take the market by its horn. (Data from Binance)

Dogecoin (DOGE) Price Analysis On The Weekly Chart.

In recent times, Dogecoin has struggled to regain its bullish momentum as the price has had a more quiet time ranging in a weekly low of $0.05; despite the uncertainty that has befallen the crypto space, the price of DOGE held its ground as price defended its key support area of $0.05. 

DOGE’s price had struggled to replicate its rally that took the price of DOGE to an all-time high of $0.75 before it faced rejection to trend higher.

After trading in a range for weeks as the price continued to look difficult to trade due to little to no volume to push the price higher as the price continued to look stagnated, the price of DOGE finally showed some movement with the positive news of Elon Musk taking over Twitter as this has become a catalyst for price movement.

Weekly resistance for the price of DOGE – $0.1.

Weekly support for the price of DOGE – $0.0.068.

Price Analysis Of DOGE On The Daily (1D) Chart

Daily DOGE Price Chart | Source: DOGEUSDT On Tradingview.com

In the daily timeframe, the price of DOGE continues to show a more bullish scenario as the price rallied to a high of $0.85 before facing resistance to the trend to a region of $0.1. 

The price of DOGE needs to break and hold above $0.87 for the price to trend higher to a region of $0.1, which is a key supply zone for most traders. If the price of DOGE fails to break and hold above this level we could see the price retesting the region of $0.075-$0.07

Daily resistance for the DOGE price – $1.

Daily support for the DOGE price – $0.75-$0.07

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Bitcoin Price Loses Steam At $20,500, Earnings Season Plays Against Crypto

The Bitcoin price is at risk of returning to its range below $19,500 if bulls fail to defend current levels. The cryptocurrency was trending higher after weeks of consolidation, leading to a spike in positive market sentiment, but optimistic participants might have been fast to proclaim more profits.

At the time of writing, the Bitcoin price trades at $20,400 with a 2% loss in the last 24 hours and a 7% profit over the previous week. Other cryptocurrencies in the top 10 by market cap hint at weakness but preserve their gains on high timeframes.

BTC’s price moving sideways on the daily chart. Source: BTCUSDT Tradingview

The Bitcoin Price Reacts Poorly To Companies Earnings, What To Expect?

Data from research firm Santiment indicates that the recent upside momentum in the Bitcoin price was followed by a spike in on-chain activity. In that sense, BTC’s trading volume and activity reached a 4-month high which usually precedes more significant moves.

However, the recent earnings season in traditional markets could cap any bullish potential. Bitcoin and stocks are moving in tandem due to uncertainty in the macroeconomic landscape.

Thus, earnings season has significantly impacted the nascent asset class. Today, Amazon (AMZN) and Apple (APPL) published their report on Q3, 2022. Like Meta (META), formerly known as Facebook, the companies failed to meet market expectations.

As a result, the Nasdaq 100, the stock index that tracks the performance of top tech companies, dived. The weakness in the legacy financial markets has become a headwind for the Bitcoin price.

Still, there might be hope for stocks, and Bitcoin, if the Nasdaq 100 can hold the line at its current levels. According to a pseudonym analyst:

Pretty big sweep of last week’s low on the $NASDAQ. Volatility all around with $META & $AMZN getting slaughtered today. $AAPL with a solid report but being dragged down by the rest a bit. Kinda expecting this one to take back some of those losses to end the week though.

Nasdaq 100 on critical support. Source: Daancrypto via Twitter

The Future Might Be In The Past

According to Jurrien Timmer, Director of Macro for Fidelity, earnings season looks like “any other.” 71% of public companies beat expectations by a relatively small margin. Thus, Timmer classified the event as another “nothing to see here” quarter.

This data suggest that the Bitcoin price and other assets might continue doing what they have done across 2022: trend sideways with no clear direction. Next year might be a decisive year for global markets, but now Timmer hints at more boredom regarding price performance.

The expert believes the stock market, and therefore all correlated assets, are moving in tandem with the 1946 and 1947 markets, periods of high inflation for the U.S. dollars. Ultimately, this scenario could be negative for investors on the short side of the trade.

Today’s market cycle has similarities to 1946-47. Then, as now, stock prices reflected the impact and then hangover of a major fiscal/monetary impulse. If the analog holds, we could be in the process of another 15% counter-trend rally followed by another retest of the lows. pic.twitter.com/2VFvaJw2qd

— Jurrien Timmer (@TimmerFidelity) October 26, 2022 

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Dogecoin Price Surges, Technical Outlook Suggests Further Uptrend

Dogecoin price has risen substantially over the past day. In that timeframe, the coin’s value had appreciated by double digits.

Over the last week, Dogecoin price logged a 12% gain, proving that the coin has rallied recently.

The coin has been one of the top gainers on the chart, along with Ethereum, as both coins secured double-digit gains.

The meme-coin has secured a monthly high at this price level. Dogecoin price finally broke through their consolidation and passed through their resistance, converting it into a support line.

The technical outlook for the coin has turned bullish for the Dogecoin price. The buyers came back into the market as demand for the crypto considerably increased.

If Dogecoin continues its price momentum, then the coin can move past the $0.70 price mark and touch $0.80, which would help the bulls to push past further price levels.

At the current price level, the Dogecoin price is still trading at a 90% low from its all-time high, which it secured in the month of May 2021.

Dogecoin Price Analysis: One-Day Chart

Dogecoin was priced at $0.069 on the one-day chart | Source: DOGEUSD on TradingView

DOGE was trading at $0.069 at the time of writing. The coin broke past the $0.063 price mark, which is now acting as local support for the coin.

Over the next trading sessions, the coin could push past the $0.070 mark. The immediate resistance mark for the Dogecoin price will be at $0.72 and then at $0.78 before it attempts to trade at $0.80.

Touching the $0.80 mark will prove to be a multi-month high for the coin. On the other hand, a slip from the current price level will take Dogecoin straight to $0.56 and then to $0.50.

The amount of Dogecoin traded in the last session soared substantially, signaling an increased demand for the coin.

Technical Analysis

Dogecoin registered overbought conditions on the one-day chart | Source: DOGEUSD on TradingView

The altcoin displayed overvalued conditions at the time of writing. The last time Dogecoin entered the overbought zone was in the month of August.

The Relative Strength Index displayed a perpendicular recovery as the indicator moved above the half-line and went straight to the 80-mark.

This meant that buyers heavily outnumbered sellers. The Dogecoin price soared past the 20-SMA, which again indicated that there was a rapid growth in demand for the meme-coin and that buyers were driving the price momentum in the market.

A continued push from the bulls can also form a golden cross, which means that the 20-SMA line will cross above the 50-SMA line. This reading signifies a heavy bullish influence on the asset.

Dogecoin displayed buy signal on the one-day chart | Source: DOGEUSD on TradingView

Other technical indicators have also indicated that bullish action was driving Dogecoin. The Moving Average Convergence Divergence indicates the overall price momentum and direction of the coin.

MACD underwent a bullish crossover and portrayed green histograms, which act as buy signal for the coin.

The Chaikin Money Flow is in charge of displaying the asset’s capital inflows and outflows. The CMF was quite positive as the indicator was far up and away from the half-line, signifying positive price movement.

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