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XRP price sits in an ugly spot while traders remain indecisive
180103 October 31, 2021 23:02 FXStreet Market News
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Shiba Inu bull run is not over yet, SHIB targets $0.00012
180102 October 31, 2021 23:02 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Dogecoin price will dive to test support before DOGE reaches $1
180101 October 31, 2021 22:45 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Cardano price is at risk of a steep correction to $1.50
180100 October 31, 2021 22:45 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Bitcoin price could drop to $53,000 to present buy opportunity
180099 October 31, 2021 22:40 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Ethereum might dive to $3,800 as ETH buyers are no where to be found
180098 October 31, 2021 22:40 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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XLM price gears up for 15% ascent as Stellar cheers bull cross
180096 October 31, 2021 15:56 FXStreet Market News
- XLM/USD set to test the key horizontal trendline resistance near $0.435.
- Stellar price advances within ascending triangle formation on the 1D chart.
- Bullish RSI and crossover suggest the more gains remain in the offing.
Stellar Lumens (XLM/USD) is consolidating its latest rally to nine-day highs of $0.397 on Sunday, as bulls await a fresh impetus for the next leg higher.
XLM price is resuming the recovery momentum from two-week troughs of $0.309, snapping Saturday’s brief pullback.
Stellar price is higher by 6% on the day, currently trading at $0.3820, shrugging off the mixed performance across the crypto market.
Stellar’s path of least resistance remains to the upside
As overserved on Stellar Lumen’s daily chart, XLM price has been trading within an ascending triangle formation since topping out at $0.439 on September 6.
XLM price eyes a bullish breakout from the triangle, as it rallies hard towards the horizontal trendline resistance at $0.439, which has charted a double top.
A massive upsurge towards $0.625 cannot be ruled if XLM price yields a daily closing above the aforesaid critical upside barrier, confirming the ascending triangle breakout.
The Relative Strength Index (RSI) has cut the midline from below, currently pointing north at 56.60. This suggests that there remains more room for the upside for XLM bulls.
A bull cross, represented by the 21- Daily Moving Average (DMA) having crossed the 200-DMA from below, adds credence to the probable upswing.
Ahead of the pattern target mentioned above, the $0.50 psychological magnate could challenge the bearish commitments.
XLM/USD: Daily chart
Alternatively, the confluence of the 21 and 200-DMAs around $0.367 could come to the immediate rescue of XLM bulls.
If the sell-off deepens, then XLM price could fall further towards $0.330, where the upward-sloping 50 and 100-DMAs coincide.
A sustained break below that confluence cushion will expose the rising trendline (triangle) support at $0.317. That demand area will be the level to beat for XLM bears.
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Iraqi Minister: OPEC+ to match oil demand with planned output boost, Nov 4 meeting eyed
180095 October 31, 2021 15:17 FXStreet Market News
Iraqi Minister Ihsan Abdul Jabbar said late Saturday, OPEC and its allies (OPEC+) will be able to meet the oil demand by its planned increase to the monthly oil output, per Bloomberg.
Key quotes
“Rising prices for natural gas and coal in Asia and Europe could lead to a rise in oil demand this winter.”
“Monthly increases of 400,000 barrels a day will eventually help stabilize the oil market.”
His comments come days ahead of the OPEC+ meeting scheduled on November 4.
Related reads
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China’s NBS Manufacturing PMI contracts further to 49.2 in Oct, more pain for AUD?
180094 October 31, 2021 15:17 FXStreet Market News
The purchasing managers’ index (PMI) for China’s manufacturing sector unexpectedly dropped to 49.2 in October from 49.6 booked in September, the latest data published by the National Bureau of Statistics (NBS) showed Saturday.
The actual data missed the consensus estimate of 49.7 by a small margin.
Meanwhile, the Non-Manufacturing PMI fell to 52.4 in the reported month from September’s reading of 53.2 and against the expectations of 52.9.
A reading above 50 indicates expansion, while a reading below suggests contraction.
Implications for AUD/USD
Disappointing Chinese NBS PMIs could exacerbate the pain in the aussie dollar, as AUD/USD could risk a fall below 0.7500 in the big week ahead. The RBA and Fed monetary policy decisions highlight the first week of November, with Friday likely to see the critical US NFP release.
On Friday, the aussie corrected sharply from three-month peaks of 0.7556 and tested the 0.7500 barrier before rebounding modestly to finish the week at 0.7523, down 0.28% on the day.
Read: AUD/USD Weekly Forecast: The RBA and the Fed coming with surprises under their sleeves
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Ethereum price readies for lift-off towards $4900 amid bull flag breakout
180092 October 31, 2021 14:45 FXStreet Market News
- ETH price is breaking higher once again, eyes fresh lifetime highs.
- A bull flag confirmation on the 4H chart calls for a fresh rally.
- RSI points south while above 50.00, keeping the upside intact.
Ethereum, the no.2 widely traded cryptocurrency, is picking up fresh bids above $4300, reversing a temporary reversal seen on Saturday.
ETH price saw a brief correction from all-time highs of $4462 a day before, although the bulls are back in the game amid the ongoing optimism surrounding the Ethereum 2.0 Altair Beacon Chain update, which was done successfully with 98.7% of nodes upgraded as of early Friday.
At the press time, ETH/USD is trading virtually unchanged on the day, defending the $4300 mark, having recorded a fifth straight weekly advance.
Ethereum price eyes additional upside, with a bull flag in play
Ethereum’s four-hour chart shows that the price has broken to the upside from a bull flag formation.
The recent rally that kicked in on Friday followed by the pullback carved out the bullish continuation pattern on the said time frame.
A four-hourly candlestick closing above the falling trendline resistance at $4337 yielded the upside breakout, opening doors for an explosive rally towards the pattern target of $4910.
However, ETH bulls will need to clear the all-time highs of $4462 first to unleash the additional upside.
The next relevant topside barrier is aligned at the $4600 round figure.
The Relative Strength Index (RSI) has eased from higher levels but remains well within the bullish zone, keeping ETH buyers cheerful.
ETH/USD: Four-hour chart
Should the corrective downside gather steam in the upcoming sessions, then the pattern resistance now support at $4321 will cave in on a sustained basis.
ETH bears will then aim for the upward-pointing 21-Simple Moving Average (SMA) at $4273 if the selling pressure intensifies.
The last line of defense for ETH bulls is the falling trendline (pattern) support at $4220. Acceptance below the latter will invalidate the bull flat formation, triggering a fresh downtrend in ETH price.
MATIC price needs to crack this barrier as Polygon bulls continue targeting $3
180090 October 31, 2021 13:51 FXStreet Market News
- MATIC price rebounds from the critical 61.8% Fibo level.
- Polygon needs a sustained move above the 78.6% Fibo hurdle.
- The uptick in RSI above 50.00 remains in favor of MATIC buyers.
MATIC price is looking to resume its bullish momentum on Sunday, pausing its two-day corrective declines from five-month highs of $2.31.
The token’s rally in the October series could be associated with Polygon’s announcement that it received its first Insurer – Tidal Finance. “The project aims to solve DeFi insurer’s supply and demand problem by “allowing capital leverage as well as additional token incentives to increase capital return,” FXStreet’s Crypto Editor, Akash Girimath, explains.
Over the past week, MATIC price surged as much as 25%, booking a third weekly advance. At the time of writing, the no. 19 coin is adding 5% on the day, trading around $1.95.
MATIC price readies for a fresh upswing amid resurgent demand
From a short-term technical perspective, the upside remains more compelling for MATIC price, especially after the bulls managed to defend $1.846 support, which is the 61.8% Fibonacci Retracement (Fibo) level of the rally from October 12 lows of $1.096 to October 29 highs of $2.31.
The renewed uptick in the 14-day Relative Strength Index (RSI) also backs the rebound in MATIC price this Sunday.
Polygon bulls now need acceptance above the 78.6% Fibo resistance at $2.05 to retest the five-month tops.
Buyers will create fresh positions above the latter, calling for a sharp upswing towards the 127.2% Fibo level at $2.64. More gains could see a test of the $3 round number.
MATIC/USD: Daily chart
On the downside, daily closing above the 61.8% Fibo support is critical to extending the correction towards the $1.70 area, which is the confluence of the 50% Fibo level and October 28 low.
The next fierce support is envisioned around $1.59-$1.56, where the October 27 low, bullish 21-Daily Moving Average (DMA) and 38.2% Fibo level converge.
Axie Infinity price keeps sight on $190 as AXS bulls not ready to give up yet
180088 October 31, 2021 12:56 FXStreet Market News
- Axie Infinity price remains on track to hit new lifetime highs near $200.
- Symmetrical triangle breakout on the 12H chart opens doors for more upside.
- AXS price to face initial resistance at $164.85 and immediate support at $137.64.
Axie Infinity price is back in the red this Sunday, snapping its three-day uptrend from five-day lows of $117.38 reached Thursday.
AXS bulls are losing conviction after reaching the all-time highs of $164.85 on Friday, as they contemplate the next move amid a better mood across the crypto space.
Axie Infinity rose 16% over the week in a big metaverse bet by traders. This comes after Facebook rebranded itself “Meta”, announcing that it going all-in on building the metaverse.
Axie Infinity price down but not out, as fresh record highs eyed
Axie Infinity price is retreating from higher levels, currently trading around $141, down 5% in the last 12 hours.
The bullish potential, however, remains intact after AXS price confirmed an upside breakout from a symmetrical triangle on the 12-hour chart on Friday.
The technical breakout calls for a rally towards the pattern target aligned at $192.37. Therefore, any retracement in AXS price is likely to be quickly bought into.
The south turn in the 14-day Relative Strength Index (RSI) justifies the pullback in Axie Infinity price but that could be brief, as the leading indicator still sits comfortably above the midline.
Immediate resistance is seen at the $150 psychological level, above which the record highs of $164.85 could be retested.
Adding credence to the move higher, a bull cross remains in play, in response to the 21-Daily Moving Average (DMA) and 50-DMA crossover for the upside seen Friday.
AXS/USD 12-hour chart
Alternatively, the triangle resistance-turned-support at $137.64 will offer an immediate cushion to AXS buyers.
On selling resurgence, the upward-pointing 21-DMA at $131.08 will be on the bears’ radars.
Axie Infinity sellers will then lookout for the next downside target at $127. The line in the sand for AXS optimists will be the triangle support line at $123.52.