#CryptoPredictions2024 #CryptoDailyInsight #CryptoNewss #doge⚡
Introduction
As October rolls in, anticipation builds among altcoin investors, especially as Bitcoin’s price hovers around the $60,000 mark. Over the weekend, Bitcoin's trading volume saw a significant reduction, while its price remained relatively stable. A well-known crypto analyst suggests Bitcoin (BTC) at $60,212 is on the verge of confirming a bullish breakout. This leads to speculations on how other key coins like Dogecoin (DOGE) and Ripple (XRP) will fare in the coming weeks.
Can Bitcoin Sustain Its Upward Momentum?
A prominent crypto analyst, often referred to as the "Titan of Crypto," shared a detailed chart predicting Bitcoin's next move. According to the analyst, Bitcoin has not yet reclaimed the crucial resistance level of $61,700, a price that played a pivotal role during its last major downturn. After losing this support, Bitcoin's value sharply declined, eventually hitting a low of $52,500. The analyst suggests that if Bitcoin can stay strong after surpassing the RSI trendline, we may see significant bullish momentum soon.
Dogecoin (DOGE) and Ripple (XRP) Price Outlook
Dogecoin, the most prominent meme-based cryptocurrency, has already risen 20% since its low on September 6. Holding the $0.105 price level is seen as a positive indicator. Should Dogecoin close above this key resistance, it could potentially reach $0.115 and $0.129 in the near future. Ripple (XRP), another major altcoin, could also benefit from a shift in overall market sentiment in October, with large altcoins likely to lead the charge if market conditions improve.
Contents:
- Can Bitcoin Sustain Its Upward Momentum?
- Dogecoin (DOGE) and Ripple (XRP) Price Outlook
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Can Bitcoin Sustain Its Upward Momentum?
The "Titan of Crypto" recently presented a detailed chart indicating that Bitcoin is currently in a phase where it may confirm a potential rise. However, Bitcoin still has to break through the crucial $61,700 level—a point that marked a significant reversal during its last major decline. Once Bitcoin lost this support, it quickly plummeted to $52,500.
According to the analyst, if Bitcoin manages to maintain its current strength after breaking the RSI trendline, a bullish surge could be imminent. The analyst stated, "Bitcoin has reclaimed the Tenkan and Kijun lines, moved past the Kumo Cloud, and the RSI has broken a multi-month trendline. If this is confirmed, we could see strong bullish momentum in the coming days."
Dogecoin (DOGE) and Ripple (XRP) Price Outlook
Dogecoin, known for its widespread popularity as a meme coin, has risen by 20% from its September 6 low. Holding the $0.105 level is considered a critical support for DOGE. If the coin closes above this key resistance, we may see its price surge toward $0.115 or even $0.129.
Ripple (XRP), another major altcoin, is also expected to benefit from a shift in market sentiment, with analysts predicting that October could be a positive month for larger altcoins like XRP. If market sentiment improves, DOGE and XRP could lead a recovery in the altcoin space.
The upcoming interest rate decision is also pivotal for the altcoin market. A positive outcome could mark the end of a long period of market uncertainty for crypto investors. The first week of October will also see the deadline for the SEC’s appeal regarding second market sales. Although an appeal is expected, there are growing speculations that the SEC may shift its focus to NFT and DeFi sectors. Furthermore, the recent approval of the ETH ETF has added a new dynamic to the market, potentially leading to increased volatility.
