Bullish October Begins; Here are the Top Cryptos to Keep A Close Watch!

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The post Bullish October Begins; Here are the Top Cryptos to Keep A Close Watch! appeared first on Coinpedia Fintech News

Solana Price Analysis: No Breakout Above $25 This Month

  • The SOL price is trading within a decisive symmetric triangle after it broke above the descending parallel channel a few days before
  • The RSI peaked high and entered the overbought range, that suggests the levels may remain in a bullish range for a while 
  • However, after a bullish consolidation, it could tend to witness a major rejection that could drag the price lower towards support 
  • This may compel the price to trade within the triangle and reach the apex before the end of the month
  • If the price breaks above the resistance, it could be a short-term breakout, which could trap the bulls at the higher targets

Thorchain Price Analysis: A Rise Above $2.5 Appears Imminent

  • The token experienced a massive influx of trading volume since the beginning of August, which has helped the price rise above the year-long consolidation 
  • The RUNE price is currently trading within a rising parallel channel that suggests a shift in the trend and market dynamics
  • Despite a drop in volume, the RSI remains within the bullish regions, which may keep up the ascending trend ahead
  • The price could maintain an elevated trend but may experience a minor pullback as it has been facing hindrances in surpassing the average bands of the channel
  • Therefore, the price may trade below these levels in an elevated way and reach the desired resistance at $2.5, paving the way to reach $3 in November

Chainlink Price Analysis: LINK Price Could Continue to Consolidate Below $9.5

  • Chainlink prices have been consolidating for over a year now and despite a rise above the 50-day EMA, the chopping around $8 may continue
  • Despite the fact that the LINK price has been recording bullish closes in the past couple of weeks, the possibility of rejection looms over the crypto
  • On the other hand, the ADX or Average Directional Index, indicates the strength of the rally is about to trigger a fine rise from the prevailing lows
  • This signals the bulls to get stronger and lift the price beyond the initial resistance at $8.2
  • An extended bullish push could raise the levels above $9 but could refrain from surpassing the crucial resistance at $9.5
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