Cardano, DOT, ETH and LEFT: These Levels Available Next Week!

The cryptocurrency market has slumped to $876.3 billion, losing $30.4 billion in volume since last week. The downward move was supported by the US inflation data and the rising projections for the Fed’s 75 basis point rate hike in November and December. Now, new technical indicators show a decline. In this post, let’s take a look at the week’s levels starting October 17 for Cardano, DOT, ETH and SOL, accompanied by analyst Bob Mason.

Cardano, DOT, ETH and SOL weekly review

ADA price is trading at $0.3678, down 12.5% ​​since last week. Despite the decline in Friday and Saturday sessions, it briefly recovered to $0.382 before turning into the red. Network updates continued their downward trend as post-Vasil project numbers exerted downward price pressure. On Friday, the Cardano team shared its weekly development report as of October 14. Highlights from the report:

  • Ongoing work on key technology improvements.
  • The upcoming Daedalus release to solve the hassle of calculating the minimum price.
  • Unlike the previous week, 102 projects were launched in Cardano.
  • 1,120 projects are being built in Cardano, three more than the previous week.

Before Vasil’s hard fork, the number of projects started in Cardano was 98. There were 1,100 projects built on the Cardano network. Based on the trend analysis, ADA will need to break through the August high of $0.595 for the June high to surpass $0.6688 and the May high to target $0.906. As a result, the return to $0.55 will be the key. However, October’s bottom touches $0.350 will give the bears a look below $0.300.

It is giving a bearish signal for ADA on the EMAs on a 4-hour basis. ADA is currently sitting below 50 days at $0.390. The 50-day EMA has fallen back from the 100-day EMA. The 100-day EMA has actually shifted back from the 200-day EMAs, giving bearish signals. An ADA move over the 50-day EMA ($0.390) supports a return to $0.400 to view the 100-days EMA ($0.408). However, the 200-day EMA sits at $0.429. As a result, failure of the ADA price to exceed $0.390, will suggest $0.300 is in the game.

Polkadot (DOT)

Polkadot’s network updates failed to provide reinforcements despite an increase in development activity. Recently, Kusama provided a detailed report on network activity that includes the total number of projects in ecosystems. Looking at the trends, a real DOT move to $9.68 suggests a move to $10.00 followed by a move to $10.73. Additionally, the DOT could see a clear rise from the $10.73 high to $16.44 in May. DOT will need to break the September high resistance at $8.05 to support a shift in sentiment. However, the DOT will need to avoid the weekly low of $5.65 to prevent it from continuing to slide below $5.00.

Looking at the EMAs on a 4-hour basis, the signal was bearish. The DOT has settled below the 50-day EMA, which is currently at $6.19. DOT will need to cross $6.19 or $6.29 to support a return to $6.50. However, failing to break past the 50-day EMA will give the bears a run below $5.00.

Ethereum (ETH)

No major network updates have been made to provide ETH price support. ETH remained in the hands of US economic indicators and sensitivity to the Fed’s policy intentions. Looking at the trends, a return to $1,500 supports a break from the August highs of $2,031 to $2,500. Also, at $2,500, the bulls will target the May highs of $2,968 and $3,000. A return to $3,000 will give the bulls a baht run to April’s high of $3,582. The October bottom is $1,190, giving the bears an escape in June and the current year’s low of $880.

On a 4-hour basis, the EMAs are giving a bearish signal. ETH is currently sitting below the 50-day EMA at $1,302. A move above $1,302 supports a real break to the $1,350 target. The 200-day EMA sits at $1,372. Levels less than $1,000 will remain in play if the 50-day EMA is not passed.

Left (LEFT)

NFT and network updates further added to the downward pressure, along with news of the Mango Markets hack and the NFT bear market SOL price negative. Trends give a true move to $48.42 giving the bulls the chance to run May’s high of $95.19. SOL will need plenty of leverage to get out of $75. However, an accurate move to $27.4425 for October would consider June and a year low of $25.78.

Looking at the EMAs on a 4-hour basis, this was a bearish signal. Solana’s break of $32.7037 supports a false ward to $31.9028. However, following Friday’s drop from the 50-day EMA, a return to $30.00 will be the key to any random recovery.

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