Crypto Price Today Oct 18th: Bitcoin Paints A Red Picture For Major Altcoins
Crypto price today Oct 18th: The negative sentiment continues to rise as the US Fed is likely to hike interest rates by another 75 bps. As a result, the crypto market offsets the past few days’ relief rally, indicating that market behavior remains uncertain. The global crypto market cap trades at $923.75 Billion with a 0.49% loss in the last 24hr. However, the total crypto market volume is $51.78 Billion reflecting a 3.03% rise.
Market leaders:
Bitcoin, the most popular cryptocurrency, exchanges hands at $19149, with a 0.94% intraday loss, while the smart contract giant Ethereum(ETH) trades at $1297 with a 0.98% drop.
How Major Altcoins Are Reacting To Bitcoin’s Fall?
Ripple(XRP):
Amid the ongoing downfall, the XRP price has dropped 17.2% within a fortnight. The altcoin currently trades at the $0.455 mark, with an intraday loss of 2.2%. Therefore, if the selling pressure persists, the prices will retest monthly support of the $0.44 mark.
Furthermore, a daily candle close below the aforementioned support will encourage the XRP price for a longer correction phase.
Cardano(ADA)
Following a minor relief rally, the ADA price continues its prior downtrend after reverting from the $0.375 resistance. The altcoin losing for two straight days registers a 5.1% loss and currently trades at the $0.354 mark.
Thus, with sustained selling, the Cardano coin will likely retest the $0.348-$0.3425 support zone. A possible breakdown from this level will prolong the ongoing downfall.
Solana(SOL)
The Solana coin price plunged to $30-$29.6 neckline support of descending triangle pattern. The coin price currently exchanges hands at $29.82, and under the influence of this bearish pattern, it shows a higher possibility of breaking the mentioned support.
A daily candlestick closing below this support will intensify the bearish m and momentum plummet the SOL price 12.25% down to the $26 mark.
Polkadot(DOT)
Since last month, the Polkadot coin prices have fluctuated between $6.7 and $6 barriers. The altcoin wavering in this narrow range indicates uncertainty among market participants. As of now, the DOT price trades at the $6.11 mark, with an intraday loss of $0.97.
Thus, the traders need to break either of the range barriers to trigger a sustainable directional rally.
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