Bitcoin

Toncoin

Shiba Inu

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>) bounced off the critical $60,000 level on Oct. 4, indicating that the bulls are trying to form a higher floor. Lekker Capital chief investment officer Quinn Thomspon said in a post on X that <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/buying-bitcoin-dip-no-brainer-crypto-hedge-fund-manager" rel="noopener noreferrer nofollow" target="null" text="null" title="null">buying Bitcoin near the $61,000 level</a> is a “no-brainer.”
Another bullish call for Bitcoin came from JPMorgan, which believes <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/geopolitical-tensions-us-elections-bitcoin-debasement-trade-jpmorgan" rel="noopener noreferrer nofollow" target="null" text="null" title="null">investors are turning toward gold and Bitcoin</a>.
“[R]ising geopolitical tensions and the coming [United States] election are likely to reinforce the ‘debasement trade’ thus favoring both gold and Bitcoin,” JPMorgan said in a report shared with Cointelegraph.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/01925887-73a1-799b-b258-54c841f5f812" title="">
 <figcaption style="text-align: center;">
 Crypto market data daily view. Source: <a data-ct-non-breakable="null" href="https://coin360.com" rel="noopener noreferrer nofollow" target="null" text="null" title="https://coin360.com">Coin360</a>
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The recent fall to $60,000 seems to have dented sentiment. Onchain analytics provider Santiment said in a post on X that mentions of Uptober had declined since the beginning of the month, indicating that <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/uptober-mentions-plummet-traders-turn-bearish-crypto" rel="noopener noreferrer nofollow" target="null" text="null" title="null">traders had become bearish</a>. Some analysts believe <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bullish-bitcoin-traders-switch-sides-and-target-new-btc-lows-under-60-k" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin could drop to $52,000</a> if the $60,000 support is violated.
Could Bitcoin hold the bounce off the $60,000 support, or will bears have their way? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
<h2 id="bitcoin-price-analysis">Bitcoin price analysis</h2>
The bulls are attempting to defend the 50-day simple moving average ($60,461), signaling demand at lower levels.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/01925888-ee30-76c2-adfe-693f55463568" title="">
 <figcaption style="text-align: center;">
 BTC/USDT daily chart. Source: TradingView
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</figure>
Buyers will have to push and maintain the price above the 20-day exponential moving average ($62,195) to improve the prospects of a rally to $66,500. If this level is scaled, the next stop is likely to be $70,000.
Conversely, if the price turns down and breaks below the 50-day SMA, it will suggest that the bears have the upper hand. The BTC/USDT pair could skid to $57,500 and subsequently to the solid support at $54,000.
<h2 id="ether-price-analysis">Ether price analysis</h2>
Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">ETH</a>) has been trading inside a symmetrical triangle pattern, indicating uncertainty about the next directional move.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/01925889-939a-7635-8775-e75aaeed6e69" title="">
 <figcaption style="text-align: center;">
 ETH/USDT daily chart. Source: TradingView
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The 20-day EMA ($2,504) has started to turn down, and the RSI is in the negative territory, indicating a minor advantage to the bears. Any recovery attempt is likely to face selling at the 20-day EMA. If the price turns down from the 20-day EMA, the bears will make one more attempt to sink the ETH/USDT pair below the uptrend line.
If bulls want to make a comeback, they will have to push the price above the moving averages. The pair may then travel to the resistance line, which is likely to attract sellers. A break and close above the triangle give it a pattern target of $3,409.
<h2 id="bnb-price-analysis">BNB price analysis</h2>
Sellers yanked BNB (<a data-ct-non-breakable="null" href="https://cointelegraph.com/binance-coin-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BNB</a>) below the 50-day SMA ($551) on Oct. 1 but have failed to sink the price below $527.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/0192588b-4f0a-72bf-ad8e-400b3f66c5d2" title="">
 <figcaption style="text-align: center;">
 BNB/USDT daily chart. Source: TradingView
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</figure>
The bulls are trying to push the price back above the moving averages. If they manage to do that, the BNB/USDT pair may again attempt a rally to $635. Sellers are expected to mount a strong defense at this level.&nbsp;
If the price turns down from the moving averages, the likelihood of a fall below $527 increases. That will clear the path for a possible decline to $460, where the buyers are likely to step in.
<h2 id="solana-price-analysis">Solana price analysis</h2>
Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">SOL</a>) fell below the 50-day SMA ($141) on Oct. 2, indicating that the price may remain stuck between $116 and $164 for a few more days.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/0192588b-e94f-78ca-911e-b9a9d3707b1f" title="">
 <figcaption style="text-align: center;">
 SOL/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The bulls will try to push the price back above the moving averages, but if they fail to do that, the SOL/USDT pair could slide to the solid support at $116. Buyers are expected to vigorously defend the level.
Alternatively, if buyers thrust the price above the moving averages, the pair may start its journey toward $164. A break and close above this level will complete an inverted head-and-shoulders pattern, having a pattern target of $208.
<h2 id="xrp-price-analysis">XRP price analysis</h2>
XRP (<a data-ct-non-breakable="null" href="https://cointelegraph.com/xrp-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">XRP</a>) plunged below the moving averages and the uptrend line on Oct. 2, indicating that the bulls have given up.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/0192588c-8e95-7030-8091-800beb102c96" title="">
 <figcaption style="text-align: center;">
 XRP/USDT daily chart. Source: TradingView
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</figure>
The 20-day EMA ($0.57) has started to turn down and the RSI is in the negative zone, indicating that the bears have the edge. Minor support is at $0.50, but if it breaks down, the XRP/USDT pair could drop to $0.46.
On the upside, the bulls will have to drive the price back above the moving averages to signal a comeback. The pair could then attempt a rally to $0.64, which remains the key hurdle for the bulls to cross.
<h2 id="dogecoin-price-analysis">Dogecoin price analysis</h2>
Dogecoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/doge-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">DOGE</a>) has formed a symmetrical triangle pattern, indicating indecision between the bulls and the bears.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/0192588d-d953-7fb9-8afd-ec0ab040d102" title="">
 <figcaption style="text-align: center;">
 DOGE/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price skids and sustains below the 50-day SMA ($0.10), the bears will try to sink the DOGE/USDT pair below the support line. If they succeed, the pair could descend to $0.08.
On the contrary, if buyers kick the price above the 20-day EMA ($0.11), the pair could attempt a rally to the resistance line. Buyers will have to overcome this barrier to signal the start of a new up move.
<h2 id="toncoin-price-analysis">Toncoin price analysis</h2>
The bulls are finding it difficult to push Toncoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/toncoin-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">TON</a>) back above the moving averages, indicating a lack of demand at higher levels.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/01925890-534c-7c9e-8a3e-b01776077fb5" title="">
 <figcaption style="text-align: center;">
 TON/USDT daily chart. Source: TradingView
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</figure>
The bears will try to strengthen their position further by pulling the price to the solid support at $4.72. Buyers are expected to defend this level with all their might because a break below it will complete a bearish head-and-shoulders pattern. That could start a new downtrend toward $3.50.
If buyers want to prevent the decline, they will have to swiftly push the price above $6.14. The TON/USDT pair could then rally to $7.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-us-employment-btc-price-snatches-62k" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin gets US employment boost as BTC price eyes $300M ask liquidity</a>
<h2 id="cardano-price-analysis">Cardano price analysis</h2>
Cardano (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ada-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">ADA</a>) has been range-bound between $0.31 and $0.40 for several days, indicating buying on dips and selling on rallies.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/01925891-08d4-7267-9d00-5df6eae3db15" title="">
 <figcaption style="text-align: center;">
 ADA/USDT daily chart. Source: TradingView
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</figure>
The price action inside the range can be random and volatile. If buyers drive the price above the moving averages, the ADA/USDT pair could move up to $0.40, where short-term traders are expected to sell aggressively. Buyers will have to overcome this barrier to signal the start of a new up move to $0.45 and then to $0.50.
On the downside, bears will have to sink and sustain the price below $0.31 to resume the downtrend.
<h2 id="avalanche-price-analysis">Avalanche price analysis</h2>
Avalanche (<a data-ct-non-breakable="null" href="https://cointelegraph.com/avalanche-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">AVAX</a>) has reached the 50-day SMA ($24.66), an important near-term support to watch out for.
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/01925891-950d-705e-b4aa-70b349cf834b" title="">
 <figcaption style="text-align: center;">
 AVAX/USDT daily chart. Source: TradingView
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</figure>
If the price turns up from the current level and breaks above the 20-day EMA ($26.42), the bulls will try to push the AVAX/USDT pair to the $31 to $33 overhead zone. Sellers will try to stall the up move in the zone, but if the bulls prevail, the pair could rally to $36.
Contrary to this assumption, if the price breaks below the 50-day SMA, it will suggest that the bears have taken charge. The pair could then slide to the solid support at $19.50, where buyers are likely to step in.
<h2 id="shiba-inu-price-analysis">Shiba Inu price analysis</h2>
Shiba Inu (<a data-ct-non-breakable="null" href="https://cointelegraph.com/shiba-inu-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">SHIB</a>) is witnessing a tough battle between the bulls and the bears near the 20-day EMA ($0.000016).
<figure><img alt="Dogecoin, Cryptocurrencies, Bitcoin Price, XRP, Markets, Cryptocurrency Exchange, Cardano, TON, Price Analysis, Binance Coin, Ether Price, Solana, Avalanche, Shiba Inu" src="https://s3.cointelegraph.com/uploads/2024-10/01925892-310b-7d93-96bc-04fd34809113" title="">
 <figcaption style="text-align: center;">
 SHIB/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
If the current bounce sustains, it will suggest that the bulls are trying to form a higher low. Buyers will then try to push the price to $0.000022, where the bears are expected to mount a strong defense.
Contrarily, if the rebound fails to hold, it will signal a lack of demand from the bulls. That increases the likelihood of a break below the moving averages. The SHIB/USDT pair may then slump to $0.000012.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Price analysis 10/4: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

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