BTC, ETH, DOGE and SHIB Price Analysis for October 17

Price Analysis
Sun, 10/17/2021 - 14:55
Cover image via www.tradingview.com
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The last day of the week is neither bullish as some coins are in the green zone while others are in the red.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has increased by 11.55% over the past seven days.

BTC/USD chart by TradingView

Despite today's slight decline, Bitcoin (BTC) is coming back to the area around $61,000. The rise is not accompanied by trading volume, which means that BTC has not accumulated enough power for a breakout.

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If bulls can fix above $62,000 within the next few days, there is a high chance of seeing the all-time high next week.

Bitcoin is trading at $61,166 at press time.

ETH/USD

Ethreum (ETH) could not surpass the rise of Bitcoin (BTC) as the growth over the last week has made up 8.93%.

ETH/USD chart by TradingView

Ethereum (ETH) is not as strong as Bitcoin (BTC) as it could not get to the vital mark of $4,000 and fix above it. In order to keep the growth going, bulls need to break the resistance at $4,025, but if they fail, there is a high possibility to see the retest of the support at $3,677, followed by a fast bounceback.

Ethereum is trading at $3,874 at press time.

DOGE/USD

DOGE is the biggest loser today as the drop of the altcoin has constituted 2.23%.

DOGE/USD chart by Trading View

Despite the fall, DOGE seems unlikely to fall after yesterday's test of the liquidity level at $0.2427. The volume is low, which means that the accumulation period will continue. If bulls can keep the rise going and get to the $0.25 mark, the growth may continue to the nearest resistance at $0.2680.

DOGE is trading at $0.2386 at press time.

SHIB/USD

SHIB coin keeps going down, falling by 1.90%.

SHIB/USD chart by TradingView

SHIB remains trading in a wide channel after setting the local peak at 3,528 satoshis. The selling volume is low, which means that there are low chances to see an ongoing drop.

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All in all, the more likely price action is continued sideways trading between 2,010 satoshis and 3,528 satoshis.

SHIB is trading at 2,529 satoshis at press time.