Bitcoin Price Analysis: Will BTC Continue Its Upward March?

Bitcoin Facing Resistance at $35,000 as Bulls Remain Strong

Bitcoin (BTC) has been trading above $33,600 for the past two days, indicating that the bulls are not rushing to the exit. After a sharp rally, if the price does not give up much ground, it may cause FOMO and ignite another round of buying.

Bitcoin Dominance Hits 30-Month High

The rally of the past few days pushed Bitcoin’s dominance to 54%, its highest level in 30 months. The rise in market dominance shows that Bitcoin is leading the charge higher, which is a positive sign. This suggests that traders are favorably viewing the cryptocurrency space and select altcoins may join the party soon.

Altcoins to Watch: Ethereum, Binance Coin, XRP, Solana, Cardano, Dogecoin, Toncoin, Chainlink, Polygon

Let’s analyze the charts of the top 10 cryptocurrencies to find out if altcoins will join Bitcoin in its upward march.

Ethereum (ETH) Bulls Eyeing $2,000

Ether’s (ETH) long wick on the Oct. 26 candlestick shows that the bears are aggressively protecting the minor overhead resistance at $1,855. The rising 20-day EMA ($1,674) and the RSI near the overbought zone indicate that bulls have the upper hand.

Binance Coin (BNB) Bulls Defending $223 Support

BNB (BNB) turned down from $235 on Oct. 24, indicating that the bears are active at this level. The sellers tried but failed to sustain the price below the strong support at $223.

XRP (XRP) Battles Resistance at $0.56

XRP (XRP) has been witnessing a tough battle between the bulls and the bears near the overhead resistance of $0.56. The bears are trying to pull the price to the 20-day EMA ($0.52) which is an important level to keep an eye on.

Solana (SOL) Consolidating Near Pattern Target

Solana (SOL) has been trading near the pattern target of $32.81 for the past few days. The bulls have not ceded ground to the bears, indicating that they anticipate another leg higher.

Cardano (ADA) Struggles to Rally Above $0.28

Cardano (ADA) has been trading above the $0.28 level for the past few days but the bulls haven’t been able to start a strong relief rally.

Dogecoin (DOGE) Recovers Strongly, but Faces Resistance

Dogecoin (DOGE) has been in a strong recovery for the past few days, indicating aggressive buying by the bulls. Buyers pushed the price above the nearest resistance of $0.07 on Oct. 26 but the long wick on the candlestick shows selling at higher levels.

Toncoin (TON) Bulls Struggle to Regain Control

Toncoin (TON) found support at the moving averages in the past few days but the bulls failed to start a strong rebound off it. That may have attracted selling by the bears who have dragged the price back below the moving averages on Oct. 27.

Chainlink (LINK) Faces Selling Near $11.50

Chainlink (LINK) has been facing selling near the $11.50 mark as seen from the long wick on the candlesticks of the past few days. A minor positive is that the bulls have not given up much ground.

Polygon (MATIC) Struggles to Sustain Upside Momentum

Polygon (MATIC) broke above the $0.60 resistance on Oct. 22 but the bulls are struggling to maintain the up-move. This suggests hesitation to continue buying at higher levels.

Please note that 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.