This week we take a closer look at ethereum, Ripple, Solana, Dogecoin, and SUI.
ethereum (eth)
ethereum closed out a big week with a 9% price rise after buyers dominated on Monday. Since then, the price has been cooling down a bit moving sideways, but the bulls do not seem to be satisfied and may be preparing their next offensive.
The current target for this rally is $2,870, which will likely see sellers attempt to regain control of the price action. However, momentum on higher time frames such as weekly gives an advantage to buyers.
Looking ahead, the market is heating up again, giving hope for a sustained recovery. If the bulls manage to overcome the key resistance at $2,870, then eth has a clear path towards $3,000 next.
Ripple (XRP)
XRP lagged behind the rest of the market, but still posted a respectable 3% price increase this week. While buyers managed to keep the price above the 54 cent support, they were unable to push it much higher, so the PA remained fairly flat.
However, if the overall market remains positive, XRP could soon attempt to rally with the next key target waiting at 60 cents. Once broken, the bulls can target 68 cents, which is the most important resistance on this chart.
Looking ahead, the bias is bullish at the moment, but there is little buying volume. This could change at any time and XRP could quickly advance to higher levels. Keep an eye on the 60 cent level as it will be decisive for any successful breakout.
- Solana (SUN)
Solana also had a great week and closed with a 9% price increase. While this performance is encouraging, it was not enough to push the price above the key resistance of $164. This level continues to give the bulls problems as they have failed to break above it several times since August.
Either way, the price action is making clear higher lows, creating a bullish bias. Over time, buyers will try again for the key resistance and if enough momentum is generated, they may be successful.
Looking ahead, if Solana manages to break above $164, it will finally be able to aim for $200 again, a level it lost in March. Good support is found at $134.
Dogecoin (DOGE)
After a mind-blowing 24% rally this week, DOGE doesn't seem to be over. This rise began after a clear break above 10 cents. Now, the price is just below the 13.5 cent resistance, which may not hold for long if this buying pressure continues.
The bullish momentum is very strong and it is possible that Dogecoin will catch up with the other meme coins that have run in recent weeks. Money may also be flowing back into DOGE, which looks attractive at these price levels.
Looking ahead, a break above 13.5 cents would leave this meme coin free to aim for 20 cents again. The price action also shows a clear reversal and resumption of the uptrend.
IUE
SUI broke a new record this week after hitting an all-time high of $2.36. However, sellers have since returned, pushing the price into a correction. However, this cryptocurrency closed the week with a 10% increase.
The current pullback may find good support around $1.9, where buyers could be waiting to enter again and stop this correction. If so, higher levels are likely ahead once confidence in this rally is restored.
Looking ahead, SUI is one of the few altcoins that managed to reach an all-time high this year, which puts it in a very exclusive club. This is also a sign of strength for the market, which may allow SUI to enter price discovery and rise much higher. Good psychological targets for this rally are at $2.5 and $3.
The post Cryptocurrency Price Analysis for October 18: eth, XRP, SOL, DOGE and SUI appeared first on CryptoPotato.
