The crypto space appears to be gearing up for a notable upswing as the FOMC meeting is expected to wake up the stagnant assets. Bitcoin price which propelled beyond $20,400 in the recent past is expected to reclaim the levels above $21,500, soon after the new rates are announced. In the meantime, the altcoins like Ripple(XRP), Cardano(ADA), and BiannceCoin(BNB) prices are expected to thrive hard.
Ripple (XRP)
The ripple effect had calmed down as the XRP price reached the immediate high close to $0.55. While a significant plunge was expected due to the formation of a double top pattern, the bulls somehow managed to restore the levels above $0.45 at the moment. However, notable volatility is expected to kick in soon which may rise the prices beyond $0.5 initially.
The XRP price has been notably bearish ever since it marked the October highs at around $0.5476. However, the price has slightly changed its trend and begun to trade within an ascending parallel channel. While the bearish trend appears to have gained some strength presently, the possibility of breaking down from the pattern emerges. However, it may be further followed by a quick rebound to ignite an upswing back toward the resistance very soon.
Cardano (ADA)
The ADA price has been heavily suppressed ever since the market collapsed in the month of May 2022. The price plateaued and during the recent sell-off, the price broke down below the pivotal support levels. However, the October trade was pretty bullish as a strong bounce from the lower support at $0.33 ignited a rally beyond $0.43. Presently, the price appears to be under a huge bearish influence that may be eased very soon.
Presently, the ADA price is trading close to the last point of defense which is around $0.385 and a pullback fueled by the FOMC may compel the price to test these levels. Meanwhile, a significant rebound may be triggered that could rise the price higher toward the first target initially and head toward the pivotal resistance in the next couple of days. Hence during the November trade, cardano price may head firmly towards the 2nd target close to $0.6 if the bulls continue to dominate the rally.
BinanceCoin(BNB)
BinanceCoin has been largely trading under acute strength despite the bears continuing to imply significant pressure. Therefore, the recent rejection from the crucial resistance may certainly not prevail for a longer time. As the selling volume recorded is pretty lower than that of the buying, the bulls are expected to reclaim their positions very soon.
The BNB price in a broader outlook appears to be pretty bullish as it maintains its trend within a bullish ascending triangle. While the recent rejection from the levels is around $332.4 for the 3rd consecutive time may have weakened the resistance. Therefore, the following retest may eventually break the levels and rise high to hit $350 in the next couple of days.
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Source: https://coinpedia.org/altcoin/altcoin-season-alert-these-altcoins-to-thrive-hard-while-bitcoins-volatility-spikes/