Altcoins Soar High, But Will They Sustain?

Crypto price today, Oct 14th: In correlation with the US market like Dow Jone and S&P 500, the crypto market shows a sudden surge in buying pressure after the release of Consumer price index data. As a result, the major crypto coins are rising for two consecutive days.

The Bitcoin price currently trades at $19800, with 2% intraday gains, While the Ethereum(ETH) price exchanges hands at $1339 and shows a 4% jump.

Altcoins Rebound From Strong Support 

Binance coin(BNB):

A short trend for Binance coin(BNB) is sideways, where it resonates between $300 and $260. The last bear cycle pushed the altcoin back to the $260 bottom support on Oct 13th. However, with the widespread recovery in the broader market, the BNB price rebound immediately.

The coin price rose 7% from the aforementioned support within the last two days. The XRP price currently trades at $0.5, and this new bull cycle should rally another 9.8% to hit $300. However, the $280 mark is likely to act as a significant barrier against this recovery.

Ripple(XRP)

Following a parabolic rally in September second half, the XRP/USDT pair started walking a later path to sustain its price growth. Amid this consolidation, the altcoin rebounded from the $0.44 support twice, indicating the market participants are buying at dips.

The altcoin trades at $0.5 and shows a 16% jump in the last two days. With sustained buying, the XRP price should rechallenge the $0.55 resistance to acquire further gains.

Cardano(ADA)

The ADA/USDT pair witnessed an aggressive downfall this week, which plunged the prices to the $0.35 mark. However, with the ongoing recovery in the crypto space, the price has reverted 10% from the mentioned support and currently trades at $0.393 as the US market opens. 

If the buying pressure persists, the Cardano price will likely retest the dynamics resistance trendline or $0.4175. Until this downsloping trendline is intact, the coin holders witness more prices drop.

Solana(SOL)

Amid a lateral walk in Solana coin, the price has tested the $30 support several times, validating it as a strong accumulation zone. Moreover, the daily candle managed to close above the $30 support despite the Oct 13th sell-off accentuating the aforementioned theory. 

Today, altcoin rose 2.85% and currently trades at the $31.2 mark. A potential upswing should push the price 10.5% higher to hit the $34.6 resistance.