Price Watch: Bitcoin (BTC) Ethereum (ETH) Ripple (XRP) & EOS Price Analysis 26th October

Crypto Price Watch

Bitcoin price struggled to surpass the $6,600 and $6,650 resistances. BTC/USD is currently under pressure and it seems like it could slowly decline towards the $6,400 or $6,200 supports. Similarly, major altcoins like Ethereum, ripple, bitcoin cash, EOS and litecoin are slowly grinding lower with a bearish angle.

Key Takeaways:

  • Bitcoin price declined recently and broke the $6,560 support level.
  • Ethereum is struggling to climb higher above the $208 and $215 resistance levels.
  • Ripple price is forming a breakout pattern with resistance near $0.4840.
  • EOS remains at a risk of a downside break towards the $5.00 support.
  • PMA, HPC and NIM gained more than 150% during the past 7 days.

Crypto Price Watch

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Bitcoin Price Analysis

Bitcoin price made a couple of attempts to clear the $6,600 and $6,650 resistance levels. However, the BTC/USD pair failed to settle above the $6,600 pivot level, resulting in bearish moves recently.

Bitcoin Price Analysis BTC Chart

Bitcoin Price Chart: Click to Enlarge

Looking at the 4-hours chart, the price traded below the $6,600 support recently and even broke the 50% Fib retracement level of the upward move from the $6,212 low to $7,020 swing high.

More importantly, there was a break below a major bullish trend line with support at $6,550 on the same chart. It opened the doors for more losses and the price declined below the $6,550 level and the 21 simple moving average (4-hours).

The price is currently trading near the 61.8% Fib retracement level of the upward move from the $6,212 low to $7,020 swing high with a bearish angle. It seems like the price may continue to move down towards the $6,402 support level.

If sellers push the price below the 76.4% Fib level and the $6,400 support, there could be more losses towards the last swing low of $6,212. The main support in the mentioned case is near the $6,022 level, which is the 1.236 Fib extension level of the upward move from the $6,212 low to $7,020 swing high.

On the upside, the price needs to gain strength above the $6,600 resistance and the 21 SMA. Above $6,600 and $6,650, the price will most likely revisit the $6,800 resistance area.

Ethereum Price Analysis

Ethereum price remained in a bearish zone as it struggled to settle above the $220 resistance level. ETH/USD declined recently and broke the $216 and $210 support levels.

Ethereum Price Analysis ETH Chart

Ethereum Price Chart: Click to Enlarge

Looking at the 4-hours chart, the price is clearly following a downtrend from the $242 swing high as it settled below the $210 level and the 21 simple moving average (4-hours).

The recent decline was such that the price broke the 61.8% Fib retracement level of the upward move from the $188 low to $243 swing high. The price is currently consolidating above the $200 level, with a bearish angle.

On the upside, there are two crucial bearish trend lines formed with resistance at $205 and $215. The price must clear these trend lines and settle above the $216 level to start a decent recovery in the near term.

On the downside, an initial support is near $200 and the 76.4% Fib retracement level of the upward move from the $188 low to $243 swing high. If there is a break below the $200 support, the price could revisit the $188 swing low in the near term.

Ripple Price Analysis

Ripple price remained in a positive zone above the $0.4340 support level against the US Dollar. XRP/USD recently traded towards the $0.5000 barrier where sellers appeared, resulting in a downside reaction.

Ripple Price Analysis XRP Chart

Ripple Price Chart: Click to Enlarge

Looking at the 4-hours chart, the price recently spiked above the $0.4800 resistance and tested the $0.5000 barrier. However, the price struggled to settle above $0.5000 and the 50% Fib retracement level of the last slide from the $0.6225 high to $0.3765 low.

As a result, the price started a downside correction and traded below the $0.4800 level and the $0.4600 support. However, losses were limited and the price bounced back above $0.4600 and the 21 simple moving average (4-hours).

At the moment, the price is forming a breakout pattern with resistance near $0.4840 on the same chart. If the price clears the $0.4840 resistance, it could retest the $0.5000 barrier.

If buyers succeed in surpassing the $0.5000 resistance, the price could climb further higher towards $0.5300 and the 61.8% Fib retracement level of the last slide from the $0.6225 high to $0.3765 low.

On the other hand, if there is a downside break below the $0.4600 support, there could be more declines towards the $0.4340 support. Overall, the price is likely to move higher as long as it is above the $0.4340 support.

EOS Price Analysis

EOS price faced a lot of selling interest near the $5.60 and $5.70 resistance levels against the US Dollar. As a result, there was a bearish reaction and the price declined below the $5.50 support recently.

EOS Price Analysis Chart

EOS Price Chart: Click to Enlarge

Looking at the 4-hours chart, the price traded as low as $5.32 recently and later corrected a few points. It moved above the 23.6% Fib retracement level of the last slide from the $6.10 high to $5.32 low.

However, the price failed once again to break the $5.60 resistance and declined. It is currently trading well below the $5.50 support and the 21 simple moving average (4-hours). Besides, it broke a connecting bullish trend line with support at $5.50.

The current price action is slightly bearish with an immediate support near $5.35. Below this support, the price is likely to decline towards the $5.00 handle.

On the upside, EOS price is facing a tough challenge near the $5.50 and $5.60 resistances. There is also a major bearish trend line in place with resistance at $5.65 on the same chart. Therefore, a break and close above the $5.60-5.70 zone is needed for a positive trend in the coming days.

Top Gainers

During the last 7 days, many small cap altcoins gained more than 100%, including PMA, HPC, NIM, PAL, NET, INCNT, CHX, VERI, KORE and BEZ (trading volume more than $50K). Out of these, PumaPay (PMA) rallied around 375% and Happycoin (HPC) jumped around 250%.

Overall, bitcoin price is slowly moving into a bearish zone below $6,660. To recover nicely, BTC/USD must break the $6,600 and $6,650 resistance levels. If not there could be a major downside move in bitcoin and altcoins like Ethereum, EOS, litecoin, ripple, NEO, QTUM, bitcoin cash, ADA, XLM, ZRX and XMR in the near term.

The market data is provided by TradingView, Bitfinex.

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