Published 16 hours ago
Crypto price today Oct 18th: The negative sentiment continues to rise as the US Fed is likely to hike interest rates by another 75 bps. As a result, the crypto market offsets the past few days’ relief rally, indicating that market behavior remains uncertain. The global crypto market cap trades at $923.75 Billion with a 0.49% loss in the last 24hr. However, the total crypto market volume is $51.78 Billion reflecting a 3.03% rise.
Market leaders:
Bitcoin, the most popular cryptocurrency, exchanges hands at $19149, with a 0.94% intraday loss, while the smart contract giant Ethereum(ETH) trades at $1297 with a 0.98% drop.
How Major Altcoins Are Reacting To Bitcoin’s Fall?
Ripple(XRP):
Amid the ongoing downfall, the XRP price has dropped 17.2% within a fortnight. The altcoin currently trades at the $0.455 mark, with an intraday loss of 2.2%. Therefore, if the selling pressure persists, the prices will retest monthly support of the $0.44 mark.
Furthermore, a daily candle close below the aforementioned support will encourage the XRP price for a longer correction phase.
Cardano(ADA)
Following a minor relief rally, the ADA price continues its prior downtrend after reverting from the $0.375 resistance. The altcoin losing for two straight days registers a 5.1% loss and currently trades at the $0.354 mark.
Thus, with sustained selling, the Cardano coin will likely retest the $0.348-$0.3425 support zone. A possible breakdown from this level will prolong the ongoing downfall.
Solana(SOL)
The Solana coin price plunged to $30-$29.6 neckline support of descending triangle pattern. The coin price currently exchanges hands at $29.82, and under the influence of this bearish pattern, it shows a higher possibility of breaking the mentioned support.
A daily candlestick closing below this support will intensify the bearish m and momentum plummet the SOL price 12.25% down to the $26 mark.
Polkadot(DOT)
Since last month, the Polkadot coin prices have fluctuated between $6.7 and $6 barriers. The altcoin wavering in this narrow range indicates uncertainty among market participants. As of now, the DOT price trades at the $6.11 mark, with an intraday loss of $0.97.
Thus, the traders need to break either of the range barriers to trigger a sustainable directional rally.
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.
Source: https://coingape.com/markets/crypto-price-today-bitcoin-paints-red-picture-for-major-altcoins/