Crypto Price Today Oct 17th: Altcoins Rise With Bitcoin

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Published 32 mins ago

Crypto price today Oct 17th: The crypto market started the new week in green, pushing major cryptocurrencies on a relief rally. However, this recovery rally is questionable as the market sentiment is still fearful of the Federal Reserve’s interest rate hikes. At 9:44 am Monday, Eastern Time (ET), the global crypto market cap is $934.9B, with a 1.98% rise in the last 24hr, whereas its trading volume surged to 38.6% to currently trade at $46.9B.

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Market leaders:

The Bitcoin(BTC) price currently trades at $19438, with a 0.88% intraday gain, While the Ethereum(ETH) price trades at $1316 and reveals a 0.77% jump.

Cardano(ADA):

The Cardano coin witnessed aggressive selling last week, which plunged the prices to the $0.36 mark. However, as the market sentiment eased off from the recent CPI data, the altcoin rebounded from the level with a morning star candle. 

So far, the relief rally has shown a 3.5% gain in the last three days and currently trades at 0.375. With sustained buying, the prices may rise to immediate resistance of $0.38.

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Solana(SOL)

With a 2.15% price jump, the Solana coin reenters the range-bound rally between the $30 and $38.5 barriers. A daily candlestick closing above the $30 mark will undermine the bearish breakdown on October 14th. 

Thus, the fakeout scenario should bring more buying orders and push the price 11% higher to hit the $34.3 mark.

Polygon(MATIC)

The MATIC price shows a decisive breakout from the long-coming resistance trendline of the flag pattern. The bullish candle shows a 4.33% intraday gain and pushed the market price to $0.83.

This bullish breakout offers an entry opportunity for trades with possible targets at $0.86, $0.94, and $1.03. 

Ripple(XRP)

The XRP price witnessed a steady downfall in the last eight days, registering a loss of 11.5%. The altcoin currently trades at the $0.473 mark, and with sustained sellers, it could soon revisit the local support of $0.478.

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However, the falling prices aligned with decreasing volume activity and lower price rejection candles indicate a higher possibility for a bullish reversal. Today, this crypto coin price trades at $0.4789 with an intraday gain of 0.51%.

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From the past 5 years I 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. raech out to me at brian (at) coingape.com

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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