Price Analysis 22/10: ETH, XRP, XLM, ADA, BAT, RVN, DOGE, HOT

It is a third day in a row that the overall market cap is in the green, marking a recovery from the local bottom of $205 billion (data by Tradingview).

The total market is currently hovering right on the long-term, sturdy resistance at $215 billion. Right above it is its MA200 and right below it is the intersection of EMA20 and MA50.

Those are its nearby support and resistance levels once it exits this prolonged sideways channel that formed back in the tail end of September.

Ethereum Price Analysis

ETHUSD on a daily chart shows a diminishing volume and a drop from the local high of $196. Right now, it is right at the Fib236 and $173, below a notable support/resistance at $176.

If this level fails to hold this support, a drop to the local bottom of $152 is in the cards. Upside potential is a bounce to the mentioned local high of $196.

XRP/USD Price Analysis

XRP is one of the better performing coins on the market, recording a green candle for almost the whole October, moving from the lows of $0.23 to the current $0.29 per token.

XRP is hitting a Fib786 that is acting as a resistance at the $0.30 height. This is a tough zone to break since XRP failed to pierce it on multiple occasions already.

Major support is at Fib618 and $.028.

Major resistance is at the mentioned $0.30.

Potential upside is not too big, breaking this $0.30 would see XRP almost immediately bumping at the $0.32, a local high from last month.

Potential downside is a drop to the Fib50 at $0.26 or, in case of a major market sell-off, to the $.023 support zone.

XLM/USD Price Analysis

Stellar is stuck in the zone of two Fib heights between $0.060 and $0.066.

It is lingering right above moving average confluence point which is a major support zone for XLM at $0.062. Major resistance is at Fib382 and $0.062.

Potential upside is huge – there are no major resistances for Stellar above this $0.066 height and a local high at $0.089 would be the target for XLM.

Downside potential is, however, also pretty big – drop to the $0.052, a local bottom from September is a possibility should the broad market move be negative.

ADA/USD Price Analysis

ADA is sitting right on its long-term support at $0.039 but it seems that a move down is more likely than a break up.

Major resistance for ADA is at $0.045 but it needs to smash two moving averages before it gets to this zone, which will be a tough task for Cardano.

Major support is at the local bottom at $0.0348.

BAT/USD Price Analysis

BAT is another one of the better performing altcoins in the last couple of weeks. Right now, it is trying to break a resistance level at $0.226, a Fib618 of the July-September high low swing.

BAT looks poised to crack this height and reach the July 27th high of $0.27, especially if we take the fundamentals into consideration which signal a good growth of BAT’s Brave Browser userbase but also technical progress, like the planned support for Brave Ads on iOS devices.

If BAT fails to fulfill its upside potential, a drop to the Fib382 at $0.195 is the most likely option.

RVN/BTC Price Analysis

Ravencoin has seen a significant drop against BTC in the last two weeks, falling from 458 sats to the current 373 satoshis.

We should pay a close attention to the current support at Fib618 and 373 sats. If this one fails to hold, RVN is in for a nosedive to local bottom of 288 sats.

A bounce from here would see RVN probably testing the 458 satoshis height again.

DOGE/BTC Price Analysis

Dogecoin is stuck. We can safely say that market had its fun with it and it now of interest only to automated bots and algos that sell and buy it for manipulation purposes.

It has been almost 4 months now since Dogecoin last saw height above 35 sats. Three days ago, it got denied again in its attempt to break this resistance and a drop to 30 or potentially 27 satoshis is now growing in likelihood.

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Torsten Hartmann
Torsten Hartmann

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

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