Bitcoin price to provide a buying opportunity before rallying to $20,500
Bitcoin price is moving slowly as volatility seems to have disappeared after the Consumer Price Index (CPI) print on October 13. Since then, BTC has been attempting to rally higher but is blocked by a resistance level.
Going forward, investors can expect a minor pullback before buyers band together and attempt another rally.
Bitcoin price rallied roughly 11% on October 13 but produced a daily candlestick close below the 30-day Exponential Moving Average (EMA) at $19,608. This volatile move was followed by a 3% pullback which failed to retest $18,934, the midpoint of the previous day’s range.
Ethereum remains rangebound as institutional investors continue to dump ETH from their portfolio
Ethereum was expected to be every wallet's favorite cryptocurrency this year, thanks to the hype surrounding the Merge. However, since the event failed to deliver, ETH has been under attack, particularly from institutional investors. This cohort is seemingly keeping as much away as they can from ETH.
According to the most recent weekly report from CoinShares, this week, like the ones that came before, was an absolute disappointment. Registering only $12 million worth of inflows as of October 14, institutional investors have been pulling their hand from investing.
Why VeChain’s VET price might have unfinished business near $0.04
Vechain’s VET price could set up a 15% rally in the coming days. Key levels have been defined.
Vechain price currently auctions at $0.023. As most cryptocurrencies have declined by more than a few percent during the current downslide, VET price remains unhinged. The VTHO-powered blockchain token witnessed an Elliott five-wave impulse on Thursday, October 13, raising the market value by 10% in one day. Since the rally, the bears have not been able to forge a retaliation of equal volume or candlestick price action.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: Is BTC sell-off over?
Bitcoin price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off. The decline was also supported by falling institutional demand for ETFs, which recorded outflows of more than $280 million this week.
Three reasons why Solana could see a double-digit decline
Solana price appears to have found some support on Friday, recovering slightly from the sharp sell-off registered earlier this week. However, on-chain metrics and technical indicators show increasing chances of a further decline in prices, suggesting that the rebound could be short-lived.
Tron network revenue exceeds Bitcoin, Ethereum and Solana in Q3
The Tron network (TRX) generated the highest revenue in the third quarter since its inception, outperforming leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin finds support around $60,000
Bitcoin is hovering around its key support level; a sustained close below this threshold could signal further declines. On the other hand, Ethereum and Ripple have closed below their critical support levels, indicating further downsides.
Bitcoin: Is BTC sell-off over?
Bitcoin price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off. The decline was also supported by falling institutional demand for ETFs. BTC bulls seem to be holding strong at a critical support level.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.