Bitcoin’s bullish weekend price action could be a sneak peek of what’s to come this week. Will ETH, SOL, DOGE, and SHIB follow suit? Bitcoin has risen roughly 9% this week, indicating solid buying by the bulls. The up move is facing resistance near $69,000 but the bulls are not exiting their positions in a hurry. That suggests the buyers anticipate the rally to extend further.
Trading firm QCP Capital mentioned that the rising United States equities markets and a weakening trend in the Japanese yen are likely to boost risk-on sentiment leading to the US elections. This could propel risk assets higher and support the Uptober narrative.
The United States Securities and Exchange Commission’s approval for listing options for Bitcoin exchange-traded funds is deemed positive for Bitcoin, improving liquidity in the markets. Bitcoin’s strength has attracted buying in major altcoins, showing signs of breaking out. Let’s study the top 5 cryptocurrencies that look strong on the charts:
- Bitcoin price analysis
- Ether price analysis
- Solana price analysis
- Dogecoin price analysis
- Shiba Inu price analysis
Bitcoin’s price facing resistance near $70,000, with upsloping indicators suggesting bullish momentum. If bears pull the price below $66,500, downside pressure might increase. On the other hand, breaking above $69,000 could signal further positive sentiment.
Ether broke out of a symmetrical triangle pattern and could rise to $2,850, with crucial support levels to watch. Solana nearing overhead resistance of $164, potential bullish scenario upon close above it. Dogecoin broke out of a symmetrical triangle, facing resistance at $0.15, with potential support at $0.12. Shiba Inu showing an inverse head-and-shoulders pattern, with upside potential if price breaks above $0.000020.
