BTC/USD

BTC/USD is being traded at $6,325 and continues to decline. Over the last trading day, we saw the expected growth in the short term: it was suggested by the natural correction required after a breakdown. After that, the price went to test support levels again and is currently in the middle of the support zone. Updating the lows of the previous days will not be long in coming, but whether the price goes below, to the levels of $6,220 and $6,145 will be necessary to determine by the nature of the price behaviour at $6,300.

As part of the forecast for October 31, we can expect the price to continue to fall to the lower levels of the support area of $6,300 and, possibly, to $6.220 if we see the impulsive nature of the breakdown of the support area. It is also impossible to exclude the possibility of prices to form a sideways movement, which buyers can support in the $6,350 – $6,300 area. But if the price goes below $6,200, a further decrease to $6,000 – $5,900 is possible, with preliminary stops at $6,145.

Cancellation of the development of the downward movement will be a pulsed growth and the breakdown of the resistance level of $6,500. In the case of consolidation above, growth is likely to go to $6,700 and then – to $7,150.

ETH/USD

ETH/USD is being traded at $196.74 and continues to decline. The price tested the lower border of the resistance zone and continued to decline. Without impulse movements, a further decrease may be smooth and unhurried, and the proximity of a good level of support may accompany the formation of a flat. But do not forget that there is a zone of low interest below $194.00 and during its breakdown, the level at which quotes can turn out to be very fast is $188.13.

As part of the forecast for October 31, we can expect further price reductions in the support zone and testing of its lower levels in the $194.00 area. It is possible that the price will first go slightly to the side, or will update the highs of the nearest candles, at $198.00, and only then go down.

The abolition of the reduction will be a pulse of growth, with a goal at $201.00. Fixing the price above it will allow us to expect further growth to $206.00 and $212.00.

XRP/USD

XRP/USD is being traded at $0.44633 and continues to decline. Over the last trading day, the price won back more than half of the entire fall and tested the levels of the signal lines of the Ichimoku Kinko Hyo cloud at $0.45300. At the top of this correction, the transfer of positions occurred and now we can expect an update of the minimum.

As part of the forecast for October 31, we can expect a continuation of the price reduction to a minimum of $0.43500 and it may be updated. Since the upward correction did not slightly reach the sellers’ interest level of $0.45500, it is possible that the price may try to rise to this value, or at least update the maximum levels. But since the corrective growth has already reached 60%, the fall is likely to happen from the current values already.

An alternative scenario is the impulse growth in the opposite direction, with a goal of $0.47000.

XMR/USD

XMR/USD is being traded at $102.520 and continues its downward movement. Over the last trading day, there was a correction up, the likelihood of which we spoke about yesterday. The update of the minimum did not happen, although the price tested the support area twice. Small volumes of this upward correction suggest that the fall is not over yet and it is worth waiting for at least one more downward wave.

As part of the forecast for October 31, we can expect a continuation of the decline, in order to test the support level of $100,000 and, probably, to renew the minimum of October 12. Now sellers have formed a zone of interest in the area of $102.90 – $103.90. For this reason, there is a chance of re-returning to this area, before a new wave of decline, so that sellers could increase their positions. If the strengthening of the sellers’ positions does not take place, then we can see a fall from current levels.

Cancellation of this option will be an active growth to the level of $108.000. If the price manages to consolidate on it, then we can expect a further upward movement to $114.000.