Price analysis 10/11: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI

Price analysis 10/11: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI

Analysts say Bitcoin has started its journey toward a new all-time high and the sideways action from altcoins suggests traders are shifting funds into BTC.

Bitcoin (

DOT/USDT

Polkadot (DOT) has been range-bound between $25.50 and $38.77 for the past many days. The price turned down from $37.45 on Oct. 10, suggesting that bears are defending the overhead resistance.

UNI/USDT daily chart. Source: TradingView

If they succeed, the UNI/USDT pair could rise to the neckline of the inverted H&S pattern. The bullish momentum could pick up if buyers push and sustain the price above this resistance. The pair could then begin its ascent toward the pattern target at $36.98.

Contrary to this assumption, if bears pull the price below the 100-day SMA, the pair could drop to $22. This is an important level for the bulls to defend because if it is breached, the selling could intensify and the pair may drop to $18.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

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