Crypto Price Today Oct 17th: Altcoins Rise With Bitcoin

Crypto price today Oct 17th: The crypto market started the new week in green, pushing major cryptocurrencies on a relief rally. However, this recovery rally is questionable as the market sentiment is still fearful of the Federal Reserve’s interest rate hikes. At 9:44 am Monday, Eastern Time (ET), the global crypto market cap is $934.9B, with a 1.98% rise in the last 24hr, whereas its trading volume surged to 38.6% to currently trade at $46.9B.

Market leaders:

The Bitcoin(BTC) price currently trades at $19438, with a 0.88% intraday gain, While the Ethereum(ETH) price trades at $1316 and reveals a 0.77% jump.

Cardano(ADA):

The Cardano coin witnessed aggressive selling last week, which plunged the prices to the $0.36 mark. However, as the market sentiment eased off from the recent CPI data, the altcoin rebounded from the level with a morning star candle. 

So far, the relief rally has shown a 3.5% gain in the last three days and currently trades at 0.375. With sustained buying, the prices may rise to immediate resistance of $0.38.

Solana(SOL)

With a 2.15% price jump, the Solana coin reenters the range-bound rally between the $30 and $38.5 barriers. A daily candlestick closing above the $30 mark will undermine the bearish breakdown on October 14th. 

Thus, the fakeout scenario should bring more buying orders and push the price 11% higher to hit the $34.3 mark.

Polygon(MATIC)

The MATIC price shows a decisive breakout from the long-coming resistance trendline of the flag pattern. The bullish candle shows a 4.33% intraday gain and pushed the market price to $0.83.

This bullish breakout offers an entry opportunity for trades with possible targets at $0.86, $0.94, and $1.03. 

Ripple(XRP)

The XRP price witnessed a steady downfall in the last eight days, registering a loss of 11.5%. The altcoin currently trades at the $0.473 mark, and with sustained sellers, it could soon revisit the local support of $0.478.

However, the falling prices aligned with decreasing volume activity and lower price rejection candles indicate a higher possibility for a bullish reversal. Today, this crypto coin price trades at $0.4789 with an intraday gain of 0.51%.