BTC/USD

BTC/USD is being traded at $6.565 and continues to move sideways. Over the last trading day, the price moved along the level of $6.5500 and there were no major changes. From this level, the price is likely to fall down. Nevertheless, in such a thin market, sharp leaps in volumes that can have a significant impact on the price dynamics turn out to be extremely significant. From the point of view of technical analysis – it’s the flat on the market, which is likely to continue in the coming days.

As part of the forecast for October 24, we can expect the continuation of price fluctuations in the sideways trend with a subsequent decrease in the support area of $6.500 – $6.450. In case of a sharp drop below $6.200, a further decline to $5.900 is likely.

Cancellation of the development of the downward movement will be a pulsed growth and the breakdown of the resistance level of $6.700. In the case of consolidation above, growth is likely to $6.800, then – to $7.150.

ETH/USD

ETH/USD is being traded at $204.51 and continues to decline as part of a downward channel level of H4. The positive news about the introduction of Neteller payment system services for the instant purchase and sale of digital assets, such as Bitcoin and Ethereum, has been ignored by the market. Although, perhaps, the positive news background simply keeps the coin from falling down rapidly.

As part of the forecast for October 24, we can expect a continuation of the downward movement within the channel. Given the news background, the price can re-test the level of the signal lines of the Ichimoku Kinko Hyo cloud at $207.25 before leaving for the support levels of $200.00 and $197.00.

The abolition of the descent will be an impulse growth, with the price fixing above the resistance level of $223.00. This will pave the way for the price to update highs in the $239.00 area.

XRP/USD

XRP/USD is being traded at $0.44689 and continues to move down. The coin showed the most significant fall compared to the rest. Buyers could not hold the position about which we wrote earlier and dropped to $0.44700. Positive prospects for this coin remain and the price should not be fixed below $0.44000. This is partly due to positive news. So, it became known that the company Ripple will become a member of the annual Sibos conference under the auspices of the international SWIFT bank transfer system. The company is preparing to present RippleNET, a blockchain network for financial institutions, which is considered an alternative to SWIFT.

As part of the forecast for October 24, we can expect a price upward correction to the trend line of $0.46000, and then, perhaps, an attempt to test the level of September 25 lows of $0.43600. Since this support is quite strong, it is likely that there will be a sideways movement there for a while.

Cancellation of this option will be a demonstration of the willingness of buyers to show activity, which will be expressed in the breakdown of the price, after which the goal will be to update the maximum of $0.52500. Fixing above $0.49000 will open the prospect of further development of the upward movement to $0.53000.

XMR/USD

XMR/USD is being traded at $106.290 and moves sideways. Yesterday, the coin went up and executed an alternative scenario, proposed earlier. The decentralized Bisq exchange reported a record increase in Monero trading volumes and its sudden increase in popularity, which had never been seen before. An abnormal surge in activity is likely due to the introduction of KYC procedures on the ShapeShift service and a tenfold reduction in commissions, due to the implementation of the Bulletproofs protocol.

As part of the forecast for October 24, correctional movement can be expected within the range between the lower limits of the resistance area of $110.250 – $110.000 and the lower border of the Ichimoku Kinko Hyo cloud at $107.000. Further development of the situation is very vague because numerous sellers can take advantage of this growth, as more attractive levels that the fall will push off from. Whatever happens, buyers will have to defend their positions. At the moment, the formation of the zone of buyers did not happen, and in the market, there are still many positions for sale.

Cancellation of the corrective lateral movement will be either the resumption of growth, in order to break through the resistance zone and go to the level of $114.000, or return to the previous values of $106.200 and fall into the support area.