Major Altcoins Skyrocketed As Bitcoin Turns Green

Crypto price today Oct 26th: the crypto market witnessed a significant recovery since last weekend, pushing the major cryptocurrencies to higher levels. As of now, the global market cap stands at $1.05 Trillion, up 6.26% from yesterday, with total volume at $126.6 Billion, up 168%.  

Market leaders:

The most popular cryptocurrency, Bitcoin, currently exchanges hands at $20871, with a 3.91% hike, whereas Ethereum(ETH) trades at $1575 with an 8% gain.

Buying Opportunity Shines On These Altcoins

Dogecoin(DOGE)

The Dogecoin price has been in a consolidation phase for the past two months. However, amid the recent recovery in the crypto market, altcoin rebounded from the $0.56 support. The bullish reversal drove the prices 19.5% higher to reach its current level of $0.67.

A daily candle closing above the $0.66 mark will release the trapped bullish momentum to bolster a bullish growth to $0.76.

Cardano(ADA)

Over the past two months, the ADA price has been trending downward under the influence of a downsloping trendline. However, on October 25th, a massive breakout from the resistant trendline indicated an early sign of trend reversal.

The altcoin currently exchanges hands at $0.4 with an intraday gain of 1.52%. However, the prices are expected to retest the breached trendline and trigger a bullish rally to the $0.6 mark.

Polkadot(DOT)

The DOT coin price boosts this week by escalating the influence of a long-coming resistance trendline with a bullish reversal from the $5.82 support level. The 12.6% jump from $5.8 creates a solid bullish engulfing candlestick to reach the overhead resistance level of $6.6.  

Currently, the daily candle reflects a power struggle at $6.5, reflecting a delay in the breakout possibility. Nonetheless, a candle closing below the resistance level will signal a weak buying opportunity as the bears have another outpost at $6.75. 

On the other hand, a bearish reversal will prolong the consolidation between $6.75-$5.8. 

Solana(SOL)

With a spike in the intraday trading volume, the SOL market price surged higher to end the long-coming correction phase. The 16.4% bullish reversal breaks the resistance trendline and reclaims the psychological mark of $30. Therefore, traders can find multiple buying opportunities at the current market price.

However, the wick formation in the last two daily candles warns of a retracement to retest the breakout. Nonetheless, Solana’s short-term sentiment remains bullish and projects an inclining trend in the coming days.