17th Oct Cryptocurrency Updates

  1. BTC/USD

If the bulls close above $6,850 levels, it will be a positive sign and will invalidate the bearish pattern. $7,413–$7,600 might act as minor resistance, above which, the rally can extend to $8,400.

Traders can continue to hold their long positions with the stop loss at $5,900.

If the bears turn around and break below the support zone of $6,075.04– $5,900, the BTC/USD pair will become extremely negative and can nosedive to the $5,450 and $5,000 levels.

  1. ETH/USD

ETH is in the range of $192.5–$249.93 range. Above $250 can attract buying, pushing prices to the next resistance zone of $300–$322.57. If the bulls scale this zone, a new uptrend is likely.

The downtrend if it breaks below $167.32. Traders are asked to hold their position and are advised not to trade.

  1. XRP/USD

The XRP/USD pair will become negative if it breaks below the $0.37 level. Traders should wait before initiating any trade. A break of $5 can result in a drop to the support zone of $4.4930–$3.8723. Therefore, traders can keep a stop of $4.90 on their long positions.

4. EOS/USD

The key level on the upside is $6.829, above which we can expect a new uptrend to begin. Above $6.8299, the EOS/USD pair can climb to $9 and higher

5. BCH/USD

A change in trend that can result in a rally to $660 and $880. Therefore, traders who are holding their long positions can keep their stops at $400. A move below $400 will be a negative development that can drag the BCH/USD pair to $300 or lower.

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