Crypto Price Today Oct 22th: Apecoin Jumps 10% While AVAX, XRP Gain 5%


Crypto Market Freefall: Bitcoin and Ethereum Erases Earlier Gains, Here's Why

Published 31 mins ago

Crypto price today Oct 22th: The crypto market continues to struggle in uncertainty but is more inclined towards a bearish sentiment as another interest hike of 75 bps is expected in November. As of now, the global crypto market cap is trading at $923.7 Billion, with a gain of 1.2% over the last 24hrs, where as the total volume stands at $41.95 Billion, projecting a 22.76% loss.

Market leaders:

The most famous cryptocurrency, Bitcoin, currently exchanges hands at $19223, with a 0.36% intraday gain, while the smart contract giant Ethereum(ETH) trades at $1314 with a 1.13% Jump.

Altcoins Shows Sustainability At Their Respective Support

Apecoin(APE):

On October 21st, the Apecoin rebounded from the $4.2 support with a morning star candle pattern. Moreover, this support also acts as a neckline barrier for a descending triangle pattern, and a reversal from it triggers a new bull cycle within this pattern.

Thus, a breakout from the immediate resistance of $4.6 will bolster this bullish thesis and push the price 20% higher to hit the $5.3 mark.

However, this bearish pattern will eventually encourage a bearish breakdown from the $4.2 support and prolong the ongoing downfall to $3.175 support.

Avalanche(AVAX)

Since the $18 support level fallout, the Avalanche coin price tends to lower within a bearish channel. As of now, the AVAX price currently consolidates between $16.2-$14.2 barriers, with a morning star candle formation teasing a bullish turnaround. The present daily candle shows a power struggle at the overhead resistance trendline, resisting the start of another bear cycle. 

The altcoin currently trades at the $15.74 mark with an intraday rise of 0.25%. Thus, if the buying pressure persists, the altcoin will give a bullish breakout of the bearish pattern to reach the $18 mark. 

Ripple(XRP)

Trading view

The XRP price resists the bearish trend below the $0.45 support level despite the recent downfall of 18% from the overhead resistance of $0.53. Moreover, the morning star pattern found at the crucial demand level of $0.45 with a spike in the intraday trading volume increases the uptrend possibility. 

The coin price currently exchanges hands at the $0.466 mark and shows a 6% from 0.5 Fibonacci retracement level. With sustained buying, this potential bullish reversal could push the prices back to the $0.054 mark.

From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Read More: Crypto Price Today Oct 22th: Apecoin Jumps 10% While AVAX, XRP Gain 5%

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