Top Price Predictions Bitcoin, Ethereum, BNB, PancakeSwap, REQ

Key Takeaways:

• Bitcoin: Bitcoin price rebounded around 10.5% from its monthly low but is now seeing some correction amid global uncertainty.
• Ethereum: Ethereum price faced significant volatility and is trading very close to its final support region of $1500-$1550.
• Binance coin: BNB price is closely following Dogecoin as one of the poorest cryptos amongst the top 10, and BNB price is down almost 16% since the beginning of 2023.
• PancakeSwap: CAKE price holds the potential to recover amid an optimistic reversal chart pattern forming over the past couple of months.
• Request Token: REQ price rallies 63% in 2 days and holds strong above 50-day & 200-day EMAs, with potential to rally further.

Bitcoin Price Falls Heavily Amid Global Tensions

BTC/USD | Source: TradingVIew

• Following a moderately bullish trend in September 2023, Bitcoin price rebounded by approximately 10.5% from its monthly low. Amid the recent global tensions in the Middle East region, Bitcoin price has suffered a 4.5% crash in the past four days.
• October saw Bitcoin price on a bullish path, breaching the $27,000 mark and briefly touching $28,000 before a minor retracement.
• On the downside, the price at the Fibonacci S1 support level of $25,500 and the base of the descending triangle at $25,800 seems to be strengthening as a sturdy foundation for BTC’s future pricing. This level endured two tests, first in June and more recently in September, demonstrating its resilience.
• On a slightly bullish note, Bitcoin price 50-day and 200-day Exponential Moving Averages (EMA) experienced a crossover after a brief BTC price increase, which could stimulate buying activity in the market and support despite the recent corrections.
• If the BTC price effectively surmounts the resistance at $28,000, there is potential for a surge toward $29,040, as indicated by the Fibonacci pivot lines.
• Conversely, the range between $25,400 and $25,800 may potentially evolve into a reliable support zone in the near future, acting as a protective buffer for Bitcoin price.

Read More: Bitcoin Price Prediction

Ethereum Price Crashes 10% in October!

ETH/USD | Source: TradingVIew

• Ethereum price has recently dipped well below the $1,600 mark, a level it successfully held for the past few weeks.
• Given that Ethereum’s price is only slightly below $1,600, at $1,560, a minor bullish catalyst could help it return to a safer position.
• On the downside, the next level of support for Ethereum’s price can be found in the range of $1,500 to $1,550. This range holds significant psychological importance and closely aligns with the S2 level of the Fibonacci pivot structure.
• However, for Ethereum price to regain strong bullish momentum, it must overcome the challenge of countering the bearish influence of the 50-day and 200-day exponential moving averages. These averages crossed in a bearish manner in early September 2023, potentially heightening selling pressure in the market.
• To restore any bullish sentiment, ETH price must successfully breach both the $1,600 mark and the $1,700 threshold in succession.
• Although the early days of 2023 saw positive developments in the prices of both Bitcoin and Ethereum, Ethereum’s performance notably lagged behind. While Bitcoin maintained its strength, Ethereum experienced a significant retracement, with its price dropping by approximately 27% from its year-to-date peak of $2,100, achieved in April 2023. Nonetheless, Ethereum has still managed to secure about a 30% gain in the year 2023 so far.

Learn More: Ethereum Price Prediction

Binance Coin Trading at the Lowest Point since June 2022!

BNB/USD | Source: TradingView

• Binance coin, or BNB is one of the poorest performers amongst the top 10 cryptos by market cap, closely following Dogecoin, which has secured the top spot in that regard – and BNB price is down almost 16% since the beginning of 2023.
• Overall, after a brief rally early in the year up until about April 2023, BNB price has seen a steady and gradual slide on the downside, with moments of major crashes, as is visible on the chart above, in the month of June 2023.
• BNB price is trading well below its long-term 200-day EMA and also marginally below its closer, short-term 50-day EMA, both of which can be expected to continue putting bearish selling pressure in the market.
• BNB price is barely holding on above the psychological support level of $200 as of writing this article, having tested that level twice in the past month – and if that level is broken, a further crash in BNB price can quite possibly ensure.
• Binance coin price is currently trading at the lowest point since June 2022, and any upward move from current levels would require a major bullish trigger.

Additional Read: Binance Coin Price Prediction

PancakeSwap On the Verge of Reversal?

CAKE/USD | Source: TradingView

• One of the smaller market cap tokens in this list – PancakeSwap, is an altcoin that has faced the severe brunt of the bear market in 2023. While its bigger competitor, Uniswap (UNI), has fallen only about 22% this year, CAKE price has fallen 66% in the YTD timeframe.
• Similar to BNB price mentioned above, CAKE price is trading well below its long-term 200-day EMA and also below the 50-day EMA, which has also undergone a bearish death cross early in 2023 – and all of these things can be expected to bring in bearish pressures on the DEX token.
• However, as demarcated by the blue trendlines – CAKE price is in a falling wedge pattern – which is widely regarded as a moderately bullish price pattern on the chart, and indicates a potential bullish upturn in the near future.
• Even if we were to see a bullish trend recovery in the token, CAKE price will have to break out of several resistance levels on the chart to actually see fresh interest and buying coming back into the token.

Read On: Pancakeswap Price Prediction

Request Price Sees Massive 50% Rally in 2 Days

REQ/USD | Source: TradingView

• Request price has remained in a descending parallel channel throughout the year, indicating a lack of strength among the bulls.
• A recent upward movement caused the price to surge by over 63% in two days, taking it from $0.0618 to $0.1007, followed by a minor retracement.
• The price is currently testing its temporary support at $0.0916, and if it initiates a recovery, it might continue its upward trajectory toward the main resistance range spanning from $0.1165 to $0.1194.
• This bullishness can continue as REQ price has breached the 50-day and the 200-day EMAs in one go, and if this continues to hold, we could see a bullish golden crossover of the two EMAs mentioned above, to further support the bulls.
• On the other hand, a pullback could lead the price down to the lower support level at $0.0824 before potentially triggering a bullish rebound.

Read More: Request Price Prediction

Conclusion