All major crypto currencies have advanced this October, and ETH, LTC and XRP prices are also supported
The Bitcoin price broke the 14,000 dollar resistance for a short time on this Saturday, but the price could not
Ethereum, Litecoin and Ripple are estimated to be a viable investment option
October was a very positive month for the crypto-currency market, all major crypto-currencies rose, and the price of Ethereum, Litecoin and Ripple is also supported by this situation. It is also important to note that the Bitcoin price briefly broke the $14,000 resistance on this Saturday, but the price could not hold above this level.
Ethereum (ETH) price is very close to the $400 resistance level
Ethereum (ETH) has found strong support around $350, but the price is still unable to stabilize above the $400 resistance. Ethereum’s price is still far from the ETH price forecasts, but if the price jumps back above $400, this could be a very good opportunity for the short term traders.
Data source: tradingview.com
On this diagram I have marked important resistance and support levels. The important support levels are $350 and $300, $400 and $450 represent the resistance levels.
As long as the price remains above this trend line, this crypto currency 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 very good 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 open path to $430. There are also some obvious risks involved in buying Ethereum (ETH), and investors should keep in mind that the price could also fall in the coming period.
The trend line represents a very strong support level, should the price break through this trend line, it would be a very strong “sell” signal and we have the open path to $300.
The Litecoin (LTC) price has stabilized above the $50 support.
The price of Litecoin (LTC) has gone from $43 to over $60 in the last 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 crypto currency to monitor, as it seems 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 has 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
On this diagram I have marked important resistance and support levels. The important 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 open path to $65.
A rise above the $70 level supports the continuation of the upward trend, and the next price target could be around $80. On the other hand, if the price falls below $50, this would be a “sell” signal and we have the open path to $45.
Ripple (XRP) is still not able to break through the $0.30 resistance.
The ripple is holding above the important support level of $0.20 against the US dollar, but the price is still unable to break through the $0.30 resistance. In my opinion, Ripple currently has a very good risk/reward ratio in the crypto-currency market and investors in this crypto-currency can gain much more by taking a comparatively lower risk.
Data source: tradingview.com
According to the rules of technical analysis, the current trend of this crypto currency 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 to $0.30. A rise above $0.30 supports the continuation of the bullish trend and the next price target could be $0.35.
If the price falls in the coming period, any price in a range of $0.15-$0.20 could be a very good opportunity to invest in Ripple.
Summary
October was a very positive month for the crypto-currency market, all major crypto-currencies increased, and the price of Ethereum, Litecoin and Ripple is also supported by this situation. Given that Bitcoin dominates the overall crypto-currency market, it is no surprise that the large legacy coins are following the example of BTC. The Bitcoin 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.