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Ethereum Rallies, Breaks $2,500 and Eyes $2,590

FxNews—ETH/USD broke out from the symmetrical triangle last week. Consequently, the uptrend resumed with the passing of the $2,500 critical resistance, which is active support as of this writing. The Ethereum bulls are testing the September 26 low as resistance, while the Stochastic Oscillator shows 91 in the description, meaning Ethereum is overpriced in the short term.

Forecast

From a technical perspective, it is not advisable to go long when the market is saturated with buyers. That being said, traders and investors should wait for the market to consolidate near the 100-period simple moving average at $2,500. The next bullish target will likely be $2,590 if the 100-SMA holds as resistance.

Conversely, a break below the 100-SMA could result in the ETH/USD rate dropping to the $2,468 area.

[FxNews]

Read: Crude Oil Tests $73 Amid U.S. Efforts to Calm Israel

FxNews—WTI crude oil prices dropped significantly, falling over 2.5% to $73.5 per barrel this Monday. This decline was largely due to growing worries about the economic health of China, a major player in global oil markets.

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Bitcoin Peaks at $66,700: Bearish Signal Ahead

FxNews—Bitcoin’s uptrend resulted in the price peaking at the $66,700 ceiling. The BTC/USD 4-hour chart formed a bearish long-wick candlestick pattern, while the RSI and Stochastic indicators signal overbought conditions.

The Bitcoin price can test the $64,280 resistance before the uptrend resumes.

[FxNews]

Read Article: Bearish Gartley Pattern Emerges as Litecoin Hits $67

FxNews—Litecoin‘s pullback from $62.8 (E) extended to the October 10 high at $67.5, a ceiling that neighbors the BC wave’s 61.8% Fibonacci retracement. As of this writing, the LTC/USD pair experienced a minor return from the $67.5 critical resistance, trading at approximately $66.5.

[FxNews]

Cardano Bulls Eye $0.366 Breakout to Resume Uptrend

FxNews—Cardano (ADA/USD) faces the $0.366 hurdle, a strong resistance from which the price has been pulled back at least four times. Interestingly, the price has a fair value gap (FVG) to fill, which could result in the Cardano price targeting the 61.8% Fibonacci retracement level. 

Given that the price is above the SMA 100, the trend should be considered bullish. However, for the uptrend to resume, the bulls must stabilize the price above the $0.366 resistance.

• Read the full article: Cardano Faces $0.366 Hurdle Amid Strong Bearish Signals

That said, the Awesome Oscillator and Stochastic show signs of a bearish market. Hence, Cardano might consolidate before the bullish wave from $0.331 targets $0.382.

Please note, the bullish outlook should be invalidated if ADA/USD falls below the $0.349 immediate support.

[FxNews]

Read The Full Article: Oil Prices Dip as Israel Heeds US Advice on Iran Strikes

FxNews—WTI crude oil futures dropped 5% to around $70 per barrel on Tuesday following reports that Israel might not target Iran’s oil facilities. This development has eased concerns about significant supply interruptions in the area.