Cryptocurrencies Hold Range as NEAR Protocol Rebounds
Crypto markets started October with a relatively quiet session, as Bitcoin, Ethereum, and XRP held below resistance. NEAR Protocol, however, rebounded strongly, while Quant consolidated its gains.
Bitcoin's price action was contained within its recent consolidation range, failing to break above the $85,210 upper resistance boundary. The 20-day simple moving average remains near $81,302, providing support for the cryptocurrency. The four-hour MACD, using 12, 26, 9 settings, showed mixed readings, with the MACD line below zero.
Ethereum also held below its $2,743 resistance level, with its daily Bollinger Bands indicating that price remains within a consolidation range. The 20-day simple moving average sits near $2,610, while Fibonacci retracements place a support reference near $2,635.
XRP's price action was relatively flat, with its 20-day simple moving average rising to about $1.44. The 50% retracement falls within the established $1.45-$1.47 support area.
NEAR Protocol, on the other hand, rebounded strongly, with its price action improving on the four-hour MACD. The cryptocurrency's 20-day simple moving average remains below its price action, indicating potential for further gains.