• Bitcoin (BTC) rose above $30,000 on Oct. 20, indicating upward momentum.
• Grayscale Investments filed a new application for a spot Bitcoin ETF, potentially acting as a bullish trigger.
• The SEC sought to dismiss all claims against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, which may slow down the regulator’s attack on cryptocurrency entities.
• Bitcoin’s long-term holders have been increasing their stockpiles, potentially causing a supply crunch and positively impacting price.
• Ethereum (ETH) bounced off strong support near $1,531 and may attempt a rally to $1,746.
• Binance Coin (BNB) turned down from the downtrend line, but bulls didn’t allow the price to dip below the 20-day EMA ($210), showing a change in sentiment.
• XRP turned down from moving averages but found support at $0.46, suggesting a lack of selling pressure at lower levels.
• Solana (SOL) completed an inverse head-and-shoulders pattern and may rise toward the pattern target of $32.81.
• Cardano (ADA) slipped to strong support at $0.24 but displayed positive divergence on the RSI, indicating reducing bearish momentum.
• Dogecoin (DOGE) showed aggressive buying between $0.055 and $0.06, with a potential rise to $0.07 if it clears the 50-day SMA.
• Toncoin (TON) recovered after breaking below the 61.8% Fibonacci retracement level of $1.98, with buyers defending the level and pushing the price back above $1.98.
• Polkadot (DOT) experienced solid buying at lower levels and may see a relief rally to the breakdown level of $3.91.
• Polygon (MATIC) has been trading below moving averages but shows reduced selling pressure. If it sustains above the moving averages, it could surge to the overhead resistance at $0.60.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
