Top Crypto Price Predictions: Bitcoin, ETH, 1inch, MATIC, ADA

Key Takeaways:

• Bitcoin price remains steady above $27,500, breaking out of bearish patterns.
• Ethereum price faces volatility but sustains above $1,700 with potential for a bullish reversal.
• 1inch approaches a potential breakout after recent bearish trends.
• Polygon’s MATIC price battles bearish trends with key resistance levels.
• Cardano’s ADA encounters bear market pressure and requires a breakout for recovery.
• The crypto market presents mixed performance with potential for recovery among select tokens.

Bitcoin Price Sustains above $27,500!

BTC/USD | Source: TradingView

• Bitcoin, the foremost crypto, demonstrated a moderately bullish price action through September 2023 with Bitcoin price rebounding by approximately 10.5% from its monthly low. As we ventured into October, BTC’s price embarked on a bullish trajectory, breaching the $27,000 mark and briefly touching $28,000 before experiencing a minor retracement.
• Analyzing the price action of Bitcoin unveils a notable development as it firmly broke free from the bearish confines of a descending triangle chart pattern, marked with blue trendlines.
• Conversely, on the downside, the range spanning from the Fibonacci S1 support level at $25,400 to the base of the descending triangle at $25,800 appears to be solidifying as a robust support level for the future of Bitcoin price. This level underwent testing twice, first in June and more recently in September, and sustained without breach.
• Additionally, Bitcoin’s 50-day and 200-day EMA also saw a minor crossover after yesterday’s brief BTC price jump, which could bring in some buying in the market too.
• Delving into these observations, there are indications that Bitcoin price may generate profitable results under specific circumstances.
• Should Bitcoin price effectively breach the resistance at $27,400, the potential arises for BTC price to surge toward $29,040, as indicated by the Fibonacci pivot lines. Surpassing the $29,000 threshold would introduce a new level of resistance in the vicinity of $31,000 for the Bitcoin price.
• Conversely, the range spanning from $25,400 to $25,800 is likely to establish itself as a dependable support zone in the coming days, providing a safety net for Bitcoin’s price.

Read More: Bitcoin Price Prediction

ETH Price Falls Below $1700 Again

ETH/USD | Source: TradingView

• In the past two week, Ethereum’s price has been extremely volatile, with ETH price jumping up above the $1700 level before quickly falling back down again.
• Although ETH’s price currently hovers below the $1,700 mark, it is still sustaining above the bearish descending triangle pattern on the charts. This development marks a bullish shift for the leading altcoin, signaling a reversal from its prolonged bearish trend.
• On the downside, the next level of support for ETH price resides in the range between $1,500 and $1,550. This range carries psychological significance and aligns closely with the S2 level of the Fibonacci pivot structure.
• Nonetheless, for Ethereum price to regain a strong bullish momentum, it faces the challenge of overcoming the bearish influence of the 50-day and 200-day exponential moving averages, which experienced a bearish death cross in early September 2023, potentially amplifying selling pressure in the market.
• Looking to the upside, Ethereum’s price must successfully breach the $1,700 threshold to sustain its bullish trajectory. At the time of this article’s writing, ETH prices are trading around $1,636, with fairly balanced potential on both sides.
• While the early days of 2023 saw Bitcoin and Ethereum prices making positive strides, Ethereum price performance has notably lagged behind. While Bitcoin maintained its strength, Ethereum experienced a substantial retracement, with its price down approximately 23% from its year-to-date peak of $2,100, achieved in April 2023. Nevertheless, Ethereum has still managed to secure a 36% gain in 2023 thus far.

Learn More: Ethereum Price Prediction

1inch Price Close to a Brekaout!

1inch/USD | Source: TradingView

• Much like the rest of the altcoins in the market, 1inch is a token that has been pretty bearish saw solid bullish action early on in the year, and since then has been on a steady downward trajectory.
• 1inch price saw a near 80% rally in the year, going from $0.38 to $0.68 in a month and a half, and since then has fallen below YTD open price to now trade near $0.25, down about 68% from YTD highs.
• On the downside, $0.23 will serve as a crucial support zone for 1inch price, as it has been tested twice between August and September 2023 – and it also happens to be the lower end of the bearish descending triangle marked on the chart (blue trendlines).
• 1inch price currently is on the verge of a breakout – it did attempt one at the beginning of October but failed to sustain. But it is very close, and another strong attempt by the bulls can potentially result in a successful breakout.
• The levels on the upside to watch out for are $0.28, which is R1 of the Fibonacci pivot level and also the level where we saw a lot of selling pressure. Following that, $0.3 (R2 of the Fibonacci pivot) can be attained.

Read On: 1inch Price Prediction

MATIC Price Experiencing Heavy Bearishness

MATIC/USD | Source: TradingView

• The journey for Polygon in 2023 has been notably challenging. This sentiment rings especially true for Polygon’s native crypto, MATIC, which experienced a substantial loss in value during the first two months of the year, followed by a persistent decline.
• Although there was an over 62% increase in MATIC price from its year-to-date high, it appears that the altcoin faces considerable challenges in staging a recovery given various underlying factors.
• A recent 8.5% rally in MATIC price over the past week propelled Polygon’s price above its 50-day exponential moving average, albeit it must secure this position convincingly and additionally breach the 200-day EMA to attract new buying interest.
• Polygon’s price has managed to make a slight escape from its downtrend, marked by the breakaway from the blue trendline on the chart. Nevertheless, there remain significant resistance levels to conquer before it can establish itself as a compelling bullish prospect once more. These include immediate targets at $0.59 and $0.75.

Additional Read: Polygon Price Prediction

ADA Price May See Further Losses

ADA/USD | Source: TradingView

• Cardano’s ADA is a token that has also faced the brunt of the bear market in 2023. After touching a YTD high of $0.46 back in April 2023, ADA price has been falling steadily, seeing huge volatility across the way – with a major crash in June.
• Currently, ADA price is stuck within a descending triangle pattern, and the month of September was spent in a humdrum manner only, with ADA price oscillating between $0.24 to $0.26.
• A proper breakout beyond the $0.26 to $0.27 region is necessary for ADA price to bring back some lost bullish enthusiasm in the token.
• Cardano price is also trading right on its 50-day exponential moving average as of writing this article, and well below its 200-day EMA which is placed at $0.308. Thus with the bearish chart pattern and the bearish EMA positon, ADA price will find it hard to stage a recovery from current levels.
• A minimum breakout beyond $0.27 (R3 of the Fibonacci pivot levels) and then eventually $0.3 (psychological resistance region) would be required going forward.

Know More: Cardano Price Prediction

Overall Crypto Market Wrap-Up