Price Prediction 10/21: BTC, ETH, XRP, BNB, SOL, DOGE

SOL plummeted again after experiencing significant increases on Monday. However, the chart shows that the downtrend ended a few hours ago.

Aside from the charts, SOL is experiencing a notable spike in trading volume amid the retracement. It reflects the same trend as most assets in the crypto market, as volume across the sector rose by 12%.

Nonetheless, the global cryptocurrency market cap is down by over 2%. The chart suggests that this is the lowest the value will slip.

However, several assets defied the prevalent trend across the sector. One such is FUSD. It was one of the top gainers in the early hours of Tuesday, printing a 190% candle on the 4-hour chart. The cryptocurrency experienced massive buying pressure following its latest milestone of becoming a tradable asset on Upbit.

However, the euphoria from the listing is fading, replaced by massive selloffs. As a result, it is trading 53% lower than its high.

The broader crypto market grapples with the absence of price-moving fundamentals. Nonetheless, there’s an ongoing conference that may provide the needed boost.

Several cryptocurrencies have since halted their retracement and may be gearing up to reclaim lost levels. Let’s examine some of them.

BTC/USD

Bitcoin opened the day at $110,580 but retraced, dropping to a low of $107,450. It marked the end of its three-day uptrend, during which it gained almost 4%.

However, the 4-hour chart shows that the bulk of the retracements happened during the first half of Tuesday. Price action during the previous session marked the end of the downtrend, and the asset is up by almost 2%.

Returning to $110k, the apex coin is grappling with slight selling pressure. Nonetheless, indicators suggest that the cryptocurrency will flip this mark in the coming hours.

It is worth noting that the latest decline started after the breakout above the bollinger bands. The recent rebound happened around the middle band, suggesting growing buying—the metric hints at a possible retest of the $112k mark (the upper band). However, the asset may experience slight selloffs at this level.

A closer look at the chart shows a sell wall at $113,500. It means that BTC may hover around this mark for an extended period.

ETH/USD

Like SOL, Ethereum is experiencing notable buying pressure. However, it saw a notable decline in the first half of Tuesday.

The coin retraced to a low of $3,838 before rebounding. The 4-hour chart shows that the altcoin has since increased, erasing all the incurred losses. ETH started its latest pullback in the session beginning on 12:00 UTC and is up by over 4%.

Nonetheless, the asset peaked at $4,071 and saw a slight correction. It remains to be seen if it will flip this mark. However, its recent high is the bollinger’s upper band. Additionally, the chart reveals that the coin previously faced massive selling pressure at the mark.

Due to these factors, ETH may see further retracement, dropping as low as $3,900. Nonetheless, the buying pressure appears strong, hinting at further increases. Previous price movements showed that the altcoin edged closer to $4,200 after breaking its current resistance.

XRP/USD

XRP is trading at $2.51, following the recent bullish sentiment across the market. The 4-hour chart shows that it is up by over 3%.

Nonetheless, its recent price shows notable improvements from the prevalent trend a few hours ago. During the first half of Tuesday, the coin retraced from $2.55 to a low of $2.41.

However, the chart suggests a significant risk of shedding recent gains. Previous price movement indicates that the asset is trading at a level with notable selling pressure. Adding to the bearish factors is that the altcoin is trading at bollinger’s upper band.

Decisively flipping this level will lead to a retest of the $2.66 barrier.

BNB/USD

BNB is experiencing the same trend as SOL and the rest of the market. Nonetheless, it had a rocky start to the day. It retraced to a low of $1,062, continuing its downtrend from Monday. It traded at over 6% lower than the week’s high.

However, recent price action shows improved buying pressure. On the 4-hour chart, the altcoin prints a green candle signifying an over 3% increase. 

The altcoin may surge higher. Previous price movements showed that it is trading below a critical resistance, which it has failed to break since Friday. Additionally, the bollinger bands suggest an impending attempt at $1,150.

SOL/USD

SOL had a pullback after its previous retracement. It dropped to a low of $182 a few hours ago but rebounded. The 4-hour chart shows that it had a massive surge afterward, erasing Tuesday’s losses. 

Currently trading at $196, the bollinger bands point to an impending correction. Recall that the previous downtrend started after the coin broke out of the bands. It repeated the trend a few minutes ago. Selling congestion may follow its recent breakout.

Previous price movements suggest that SOL faced a stagnant sell wall at $198. The same trend played out a few minutes ago. Retracement followed, sending the asset to $175.

DOGE/USD

DOGE rose to a high of $0.206 a few minutes ago. It recovered from the recent rounds of selloffs, which saw it lose almost 3%. The 4-hour chart depicts a recovery that started in the session starting at 12:00 UTC, and the asset printed over 5%. 

However, the bollnger bands suggest that the uptrend may be short-lived as the memecoin broke above it. Although it is trading below the mark, the asset may see further retracements, sending it closer to the middle band at $0.193.

Previous price movements suggest that DOGE may rebound at the SMA, similar to its earlier behavior. 

ADA/USD

Cardano is trading at $0.67, slightly down from its high. Like SOL and other cryptocurrencies, it rebounded after a previous decline that resulted in a drop to $0.63. Nonetheless, the asset saw a spike in buying pressure that led to a massive price spike, printing a 5% candle on the 4-hour chart.

However, the coin is experiencing a slight price pullback, and the bollinger band suggests further decline. Recent price movements mimic the previous ones that led to the retracement. One such event was ADA breaking out of the bands. It recently repeated the trend, and the ensuing corrections may send it to the middle band at $0.65. 

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