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Crypto Price Today: The cryptocurrency market on October 22, 2024, showcases mixed trends. Bitcoin, Ethereum, Solana, and other major cryptocurrencies experienced minor declines. However, a few coins like Tron and Aptos saw gains. This detailed analysis explores the performance of top cryptocurrencies and highlights the biggest gainers and losers of the day.
The chart of Bitcoin against USDT (Tether) shows a period of consolidation followed by volatility, as reflected by the price fluctuations.
Price Range: The price fluctuated between $66,800 and $69,500. The highest point was around $69,519.52, and the lowest was near $66,840.67, indicating a volatile session. The current price level rests at approximately $67,433.
Bollinger Bands: The Bollinger Bands, shown in red, blue, and green lines, signify the volatility of the market. The bands widened during the price spikes, suggesting increased volatility, especially during the sharp rise around $69,500 followed by a quick decline. The price touched the lower band twice, showing periods of overselling around $66,800. The middle band acts as a dynamic support and resistance, with Bitcoin consolidating near this level at the time of analysis.
Support and Resistance Levels: The support level appears around $67,000, with Bitcoin bouncing from this region multiple times, as seen from the lows near $67,070 and $67,198. The resistance level is near $67,981, as the price struggled to break past this area, which aligns with the upper Bollinger Band.
Volume: The trading volume peaked during sharp movements, especially when the price dropped toward the $66,800 range and during the recovery near $68,500. This suggests active trading during these significant price shifts, potentially reflecting buying interest at the lower levels and selling pressure near the peaks.
Overall, Bitcoin is showing a bearish bias, with a decline from the recent high of $69,500. However, the strong support around $67,000 indicates potential stability in the near term. Traders are closely watching if Bitcoin will break below this support or recover towards $68,000.
Price: $2,641.30
24h Change: -3.29%
7d Change: +0.88%
Ethereum faced a sharper decline compared to Bitcoin, falling 3.29% over the past 24 hours. The price dropped to $2,641.30, but it still managed to maintain a positive gain of 0.88% over the last seven days. Ethereum continues to face challenges, especially as network congestion and competition in the decentralized finance (DeFi) space increase. Ethereum's ability to stay above the $2,600 level remains crucial in determining its next move.
Price: $4.41
24h Change: -3.08%
7d Change: +0.23%
Polkadot also registered a decline, down 3.08% in the past 24 hours, trading at $4.41. Polkadot showed a modest increase of 0.23% over the last week. Investors are focusing on Polkadot’s performance in the decentralized ecosystem, where it continues to strengthen its network. The $4.50 resistance is a key level that Polkadot needs to surpass to regain bullish momentum.
Price: $167.03
24h Change: -1.31%
7d Change: +7.01%
Solana saw a minor dip of 1.31% in the last 24 hours but remains one of the top performers for the week, with a 7.01% increase. Solana’s price of $167.03 demonstrates its growing popularity in the blockchain space. Solana’s high-speed transactions and scalability continue to attract developers and investors. The $170 mark serves as the next resistance level that Solana needs to break to continue its upward trajectory.
Price: $0.54
24h Change: -0.69%
7d Change: -1.11%
Ripple saw a 0.69% decline in the past day, trading at $0.54. The coin has faced challenges over the week, reflected in a 1.11% drop over seven days. Ripple’s legal battles have continued to influence its price, leading to a cautious approach by traders. The price is currently hovering near the $0.54 level, a critical support zone. Further movement in legal proceedings could impact XRP's direction.
Price: $0.0000184
24h Change: -3.46%
7d Change: -0.59%
Shiba Inu took a hit with a 3.46% drop in the last 24 hours, trading at $0.0000184. Despite this, the coin only faced a modest 0.59% loss over the week. Shiba Inu’s community-driven nature keeps its trading volumes active, but the price has been struggling to gain momentum. The $0.0000200 resistance remains a psychological level that needs to be broken for Shiba Inu to see further gains.
Some altcoins managed to show positive momentum despite the overall market decline. The following are the top gainers:
Price: $10.90
24h Change: +8.38%
Aptos showed impressive growth with an 8.38% gain over the past 24 hours, pushing its price to $10.90. The coin continues to attract attention for its innovative blockchain technology. Aptos has been gaining traction, and its recent performance has been strong.
Price: $0.009078
24h Change: +6.87%
Meowcoin had a notable rise of 6.87% in the past day, trading at $0.009078. The altcoin has shown surprising resilience despite its relatively small market capitalization. Investors are watching whether Meowcoin can sustain this momentum.
Price: $0.8927
24h Change: +5.91%
Axelar saw a significant 5.91% increase, pushing its price to $0.8927. Axelar is gaining recognition for its focus on cross-chain communication, making it one of the key players in the interoperability space.
Price: $7.84
24h Change: +2.27%
Uniswap, one of the leading decentralized exchanges, recorded a 2.27% gain, with its price rising to $7.84. Uniswap continues to dominate the DeFi space, attracting both developers and traders to its platform.
Price: $0.158
24h Change: +1.37%
Tron saw a gain of 1.37%, trading at $0.158. Tron’s expanding network and focus on decentralized applications have kept it in the spotlight. Tron continues to build its presence in the DeFi sector.
On the flip side, several cryptocurrencies faced steep declines. Here are the biggest losers for the day:
Price: $1.20
24h Change: -6.07%
Aerodrome Finance was among the biggest losers, falling 6.07% to $1.20. The DeFi project faced increased selling pressure, dragging its price down.
Price: $552.91
24h Change: -5.90%
Bittensor dropped by 5.90%, bringing its price to $552.91. The project, which focuses on decentralized machine learning, has seen fluctuations, with recent performance reflecting a sharp downward trend.
Price: $0.05302
24h Change: -5.85%
Hedera suffered a 5.85% decline, trading at $0.05302. Hedera’s unique consensus algorithm has garnered interest, but the current price reflects a challenging period for the coin.
Price: $0.7732
24h Change: -5.81%
Ondo faced a drop of 5.81%, with its price sliding to $0.7732. The DeFi space has been tough on many projects, and Ondo was no exception today.
Price: $2.01
24h Change: -5.74%
Sui saw its price fall by 5.74%, settling at $2.01. The coin had been performing well but faced selling pressure, leading to today’s sharp drop.
The cryptocurrency market on October 22, 2024, saw both gains and losses, with Bitcoin, Ethereum, and other major cryptocurrencies experiencing minor declines. However, some altcoins, such as Aptos and Axelar, stood out as top gainers. On the other hand, coins like Aerodrome Finance and Bittensor were among the biggest losers. The market remains dynamic, with investors keeping a close watch on support and resistance levels for future movements.
