Crypto Price Today Oct 16th: Top Gainers And Losers

Crypto price today Oct 16th: The crypto market shows several cryptocurrencies painted green today as the traders’ sentiment has calmed down from the high CPI data. By press time, the global cryptocurrency market cap is trading at $915.55 billion, whereas the total trading volume wavers at $58.48 billion.

Market leaders:

The Bitcoin price currently trades at $19135, with a 0.33% intraday gain, While the Ethereum(ETH) price trades at $1283 and reveals a 0.66% gain.

Gainers:

Pancakeswap(CAKE):

Amid the sudden surge of selling pressure with high CPI data, the CAKE token price breached the support trendline on October 12th. However, as the panic wore off, the sellers struggled to follow up on its breakdown.

Today, altcoin trades at $4.58 and tries to retest the breached support. Therefore, if the price sustains below the support trendline, the potential downfall may plunge the prices to $4 mark.

Conversely, a daily candle closing above the trendline will invalidate the bearish thesis.

Aave(AAVE)

The AAVE price has resonated within a falling wedge pattern over the past two months. Today, the coin price shows a 3% jump and breaches the overhead trendline. A daily candle closing above the resistance trendline will offer a buying opportunity for traders and a potential bull run to $115.

However, the coin price will continue its downward spiral until the support trendline is intact.

Maker(MKR)

A morning star candle pattern rebounded from $890 support indicates the Maker buyers attempt to resume its recovery rally. Thus, the altcoin registered 11.3% gains in the last three days and rechallenged the $1000 psychological resistance.

Earlier today, the MKR price showcased a 6% jump to break the aforementioned resistance. However, the high supply pressure reverted the price lower, suggesting a price consolidation below $1000.

Losers:

Hedera(HBAR)

The Hedera coin price action follows a descending triangle pattern in the daily time frame chart. Responding to this pattern, altcoin turned down from $0.0656 on October 14 and plugged 7.65% in the past three days.

The coin price currently trades at $0.06, and with sustained selling, it should retest the bottom support of $0.055 in the near future.

Terra Classic(LUNC)

The September end recovery in LUNC price turned down from the $0.00036 mark. The bearish reversal aligned with the ongoing fear of inflation data tumbled the prices by 26.3%.

The altcoin currently exchanges hands at $0.00026 and approaches the $0.000253 support. Furthermore, the decreasing volume activity during this fall indicates a higher possibility for price reversal.

Terra(LUNA)

Since last month, the LUNA price has retested the $2.24-$2.18 support zone thrice, indicating that buyers are actively buying at this level. Furthermore, a bullish reversal from this support breached local support of $2.6, offering a higher footing for buyers to lead a recovery rally.

The Terra coin price trades at $2.6 with a 3.44% intraday loss. However, the lower price rejection attached to the daily candle indicates that the buyers are trying to sustain the newly obtained support. This development should surge prices by 11% to surpass the $2.92 barrier.

If the selling pressure persists, the prices should drop 13% to hit the $26 mark.