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COINTURK NEWS > Technical Analysis > Market Players Anticipate Key Developments in Cryptocurrency Prices
Technical Analysis

Market Players Anticipate Key Developments in Cryptocurrency Prices

In Brief

  • The cryptocurrency market anticipates significant price movements influenced by upcoming U.S. elections.

  • Bitcoin and Ethereum show potential for upward trends, provided key support levels hold.

  • XRP and AVAX face challenges with fluctuating investor confidence and legal uncertainties.

İlayda Peker
İlayda Peker 7 months ago
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Excitement continues to build in the cryptocurrency markets as the U.S. elections draw near, with Kamala Harris currently leading in polls. Unless there is a last-minute surprise, she may become the country’s first female president. Meanwhile, a rally in the last quarter has commenced, raising questions about the future performance of BTC, ETH, XRP, and AVAX.

Contents
Bitcoin and Ethereum InsightsXRP and AVAX Price Predictions

Bitcoin and Ethereum Insights

Bitcoin $104,031‘s price stood at $71,980 at the time of writing, with the crucial support level of $71,500 holding firm. Although BTC surged to its all-time high of $73,777 within the last 24 hours, it had to retreat from $73,620. A rise of less than $200 could have set a new record.

A region that has been tested over six times is back in focus. The prolonged lack of significant movement over the last two quarters may need to break upward to initiate a six-figure price journey. Currently, the retention of the $71,000 and particularly the $71,500 level is positive, encouraging investors who are not currently at a loss to wait and see what happens next.

For the first time since October 20, ETH tested the $2,700 mark. However, it couldn’t maintain that level for long, indicating strong selling pressure. If historical data is to repeat, limited growth in altcoins may pave the way for BTC to reach new highs while altcoins remain sidelined.

A significant move for ETH may begin with convincing closes above $2,863.

XRP and AVAX Price Predictions

The extension of the legal proceedings has left XRP Coin investors in suspense. Ripple $2 officials state that the focus of the appeal is not whether XRP Coin is a security, and that the SEC is likely to suffer a more significant defeat. However, regardless of the results, patience in the crypto market tends to yield poor outcomes.

If closes remain above $0.55, a rise above $0.58 is expected. Following that, the classic targets of $0.64 and $0.73 will be in play. Avalanche (AVAX) continues to hover below $27. Interest remains weak, with no demand to climb to new resistance levels like SOL Coin.

If BTC continues to linger at its peak, closes above $30.7 may target the peaks between $31.6 and $50.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 30 October, 2024 - 10:24 pm 30 October, 2024 - 10:24 pm
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