Crypto Price Today Oct 22th: Apecoin Jumps 10% While AVAX, XRP Gain 5%

Crypto price today Oct 22th: some major cryptocurrencies attempt to regain lost ground despite high volatility in the market.
By Brian Bollinger
Bitcoin, ETH, XRP, SHIB Price To Rally After Israel-Hamas Ceasefire Declaration

Crypto price today Oct 22th: The crypto market continues to struggle in uncertainty but is more inclined towards a bearish sentiment as another interest hike of 75 bps is expected in November. As of now, the global crypto market cap is trading at $923.7 Billion, with a gain of 1.2% over the last 24hrs, where as the total volume stands at $41.95 Billion, projecting a 22.76% loss.

Advertisement
Advertisement

Market leaders:

The most famous cryptocurrency, Bitcoin, currently exchanges hands at $19223, with a 0.36% intraday gain, while the smart contract giant Ethereum(ETH) trades at $1314 with a 1.13% Jump.

Advertisement
Advertisement

Altcoins Shows Sustainability At Their Respective Support

Apecoin(APE):

On October 21st, the Apecoin rebounded from the $4.2 support with a morning star candle pattern. Moreover, this support also acts as a neckline barrier for a descending triangle pattern, and a reversal from it triggers a new bull cycle within this pattern.

Thus, a breakout from the immediate resistance of $4.6 will bolster this bullish thesis and push the price 20% higher to hit the $5.3 mark.

However, this bearish pattern will eventually encourage a bearish breakdown from the $4.2 support and prolong the ongoing downfall to $3.175 support.

Avalanche(AVAX)

Since the $18 support level fallout, the Avalanche coin price tends to lower within a bearish channel. As of now, the AVAX price currently consolidates between $16.2-$14.2 barriers, with a morning star candle formation teasing a bullish turnaround. The present daily candle shows a power struggle at the overhead resistance trendline, resisting the start of another bear cycle. 

The altcoin currently trades at the $15.74 mark with an intraday rise of 0.25%. Thus, if the buying pressure persists, the altcoin will give a bullish breakout of the bearish pattern to reach the $18 mark. 

Ripple(XRP)

Trading view

The XRP price resists the bearish trend below the $0.45 support level despite the recent downfall of 18% from the overhead resistance of $0.53. Moreover, the morning star pattern found at the crucial demand level of $0.45 with a spike in the intraday trading volume increases the uptrend possibility. 

The coin price currently exchanges hands at the $0.466 mark and shows a 6% from 0.5 Fibonacci retracement level. With sustained buying, this potential bullish reversal could push the prices back to the $0.054 mark.

Advertisement
Brian Bollinger
From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.