BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, DOT, MATIC

The US 10-year Treasury yield rose more than 4.8% on October 3, the highest level since 2007. The spread between the 2-year and 10-year Treasuries has narrowed to 35 basis points from 109 basis points a few months ago, said Jeffrey Gundlak, CEO of Dublin Capital, in a post on X (formerly Twitter). This should “warn everyone of the recession,” he warned.

The former CEO of the crypto exchange BitMEX, Arthur Hayes, warned that the government should print money to save the bond market quickly – long-term interest will increase faster than short-term. Rates – causes firms to fail. Some investors believe this could create a cryptocurrency bull market.

It seems that institutional investors are also starting to warm to cryptocurrencies. CoinShares' latest digital asset fund flow weekly report shows $21 million inflows into digital asset investment products for the first time in six weeks.

In this uncertain macro environment, let's look at the charts to determine the next potential move.

Bitcoin price analysis

Bitcoin (BTC) rose above $28,143 on October 2, but the long wick bears on the candlestick are selling at a higher level. The bears tried to build on their gains on October 3, but the bulls held ground at $27,160.

The uptrending 20-day moving average ($26,903) and the relative strength index (RSI) in positive territory indicate that bulls are dominant. Buyers will try again to clear the high resistance at $28,143.

A close above this level would complete a short-term double-bottom pattern, which has a target of $31,486.

This positive outlook will be rejected if the price again breaks above the overhead resistance and falls below the 20-day EMA. This price can reach 26,000 dollars. The BTC/USDT pair may continue to consolidate between $24,800 and $28,143 for some time.

Ether price analysis

Ether (ETH) fell sharply above the $1,746 resistance on October 2, indicating that the bears are strongly guarding this level.

The 20-day EMA ($1,640) is flat and the RSI is near the midpoint, indicating a balance between supply and demand. If the price changes from the current level, the bulls will again try to overcome the barrier at $1,746. If they can pull through, the ETH/USDT pair will complete a double-bottom pattern with a target of $1,961.

On the other hand, if the price continues lower and breaks below the moving average, it suggests that the pair may extend its stay in the $1,531 to $1,746 range for some time.

BNB price analysis

BNB (BNB) jumped above the $220 resistance on October 2, but the bulls failed to sustain the breakout as seen from the long wick on the candlestick of the day.

The failure of the bulls to maintain the price above the 20-day EMA ($214) is a negative sign. It shows that traders are rushing to the exits. The BNB/USDT pair may further fall to an upward trend line.

If the price recovers from this level, the bulls will again try to push the pair above $220. A close above this resistance could indicate the start of a rally towards $235 and then $250. Instead, if the price breaks below the high line, the pair could fall to the dreaded support at $203.

XRP price analysis

On September 29, buyers pushed XRP (XRP) above the same triangle pattern, and then several attempts by the bears to bring the price back into the triangle failed.

The bulls will try to win the next header at $0.56. If they succeed, it indicates that a new development has begun. The XRP/USDT pair may start its journey into a pattern at $0.66.

Conversely, if the price drops below $0.56 and dips below the high line, it suggests that the bulls will take profits. That could keep the pair in the range between $0.56 and $0.41 for a few more days.

Solana price analysis

Solana (SOL) has been oscillating in a large range between $14 and $27.12. The price action of the past few days has led to the formation of an inverse head and shoulders pattern.

Although structures created in the region are less reliable, they should still not be ignored. If the price reverses and breaks above the neckline, the SOL/USDT pair may try to target the $27.12 and finally the $32.81 pattern.

Crucial support to watch on the downside is the 20-day EMA ($20.95). If the price slips below this level, it indicates that the bulls are abandoned. That could open the door to a downside to $17.33.

Cardano price analysis

Cardano (ADA) declined from $0.27 on October 2 and reached the 20-day EMA ($0.25) on October 4. This is an important step to follow in the near future.

If the price bounces back from the 20-day EMA, it indicates a change in sentiment from selling on rallies to buying on dips. The bulls will try to lift the price above $0.27 and start a move towards $0.29 and later towards $0.32.

If the bears want to defend the rally, they need to drag the price below the 20-day EMA. The ADA/USDT pair may again drop to critical support at $0.24. The bulls defend this level effectively.

Dogecoin price analysis

The bulls pushed Dogecoin (DOGE) above the 50-day SMA ($0.06) on October 2 but failed to sustain higher levels. This indicates that the bears sell on every minor support rally.

The DOGE/USDT pair has reached a formidable support at $0.06. Repeated testing of a support level over a short period of time tends to weaken it. If the $0.06 level is breached, the pair may fall to the next major support at $0.055.

A minor advantage for buyers is that the RSI has formed a bullish divergence. This indicates that the bears may be losing their grip. Indicators are not providing clarity about the next move. So it's best to wait for the price to close above the 50-day SMA or dip below $0.06 to place directional bets.

RELATED: Bitcoin Traders Expect $27K As BTC Price Ignores Dynamic US Dollar

Token price analysis

Toncoin (TON) fell below the 20-day EMA ($2.09) on September 30 and the bears thwarted the bulls' attempts to retake the level on October 1.

The bears are trying to strengthen their position by dipping the price to the 50-day SMA ($1.86). This level could lead to a possible retracement with selling at the 20-day EMA.

If the price changes from this resistance, the mood becomes depressed and traders sell on rallies. That increases the possibility of a drop below the 50-day SMA.

Conversely, if the price reverses and is above the 20-day EMA, it suggests that the markets have rejected the lows. The TON/USDT pair may rise to $2.32 as bears try to stop another upward move.

Polkadot price analysis

Polkadot (DOT) declined sharply from the 50-day SMA ($4.24) on October 2 and broke below the 20-day EMA ($4.10) on October 3.

Bears tested the necessary support at $3.91 on October 4, but the long tail on the candlestick indicates strong buying at lower levels. The RSI has formed a bullish divergence, indicating that the sellers may be losing their grip.

If the bulls push the price above the 20-day EMA, it suggests that the DOT/USDT pair may extend its stay in the $4.33 to $3.91 range for some time. The bears need to lower the price from $3.91 to start the next bearish trip to $3.50.

Multilateral cost analysis

After witnessing a fierce battle between bulls and bears near the moving averages, Polygon (MATIC) exploded on October 4, indicating that buyers are trying to take charge.

The bulls are trying to build on the strength and push the price above $0.60 above the overhead resistance. If you can do that, it indicates that a sustained recovery has begun. The MATIC/USDT pair may rise to $0.70.

Contrary to this assumption, if the price declines and breaks below the 20-day EMA, it indicates that the bears are highly active. The pair can retest the decisive support at $0.49. This level can attract strong buying by bulls.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.