Friday’s jaw-breaking $3.2B Bitcoin options expiry could kick-start a new rally

Bitcoin (BTC) has been trading in a descending channel pattern since its $67,000 all-time high on Oct. 20, which was just one day after ProShares’ Bitcoin Strategy ETF (BITO) debuted at Nasdaq. However, bulls have a sufficient number of incentives to peg Bitcoin’s price above $60,000 on Oct. 29 when the $3.2 billion monthly options expiry settles. Bitcoin price in USD at Coinbase. Source: TradingView Currently, investors are displaying mixed feelings about the exchange-traded fund’s approval, even though it reached $1 billion in assets under management in 48 hours. Either…

Shiba Inu could surpass Dogecoin after a 700% SHIB price rally in October

Shiba Inu (SHIB) continued its march upward on Oct. 27, with its price hitting a record high of nearly $0.000060 before correcting lower. SHIB rallied by more than 25% to an all-time high of $0.00005959, crossing above its previous all-time high of 0.00005000, according to data from Binance. The latest move upside pushed the token’s month-to-date (MTD) returns to approximately 726%, making it the fifth-highest grossing cryptocurrency entering the final quarter of 2021. SHIB’s October gains had slipped to near 606% following a price correction from its record high, still higher…

Ethereum Outperforms Bitcoin, Why ETH Could Rally To New ATH

Ethereum started a fresh increase above $4,175 against the US Dollar. ETH could gain pace if there is a clear break above $4,300 in the near term. Ethereum was able to climb above the $4,175 and $4,200 resistance levels. The price is now trading above $4,200 and the 100 hourly simple moving average. There is a major rising channel forming with support near $4,175 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its increase if it clears the $4,300 and $4,320 resistance levels. Ethereum…

Shiba Inu risks drop with SHIB’s 574% October’s price rally near exhaustion

Shiba Inu (SHIB) may see a pullback by almost 25%-35% on fears that the cryptocurrency’s excessive price rally in October has left it overvalued, a key indicator shows. Dubbed Relative Strength Index (RSI), the indicator measures the magnitude of an instrument’s recent price changes to evaluate its oversold and overbought conditions. The result can be anywhere between the number 0 and 100, with a reading below 30 showing the instrument’s oversold and above 70 showing its overbought status. SHIB crossed above 70 on Oct. 3 and peaked around 94 three…

Why Bitcoin Needs To Clear $64K For Hopes of a Fresh Rally

Bitcoin price started a fresh increase from $60,000 against the US Dollar. BTC is back above $62,000, but it must clear $64,000 for hopes of a fresh rally. Bitcoin recovered losses and was able to climb above the $62,500 resistance. The price is now trading above $62,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $63,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a steady increase if there is a close…

Ethereum eyes rally against Bitcoin, with ETH price showing hidden bullish divergence

Ethereum’s native token, Ether (ETH), has been declining against its top crypto rival, Bitcoin (BTC), since Sept. 3. Ether dropped in value against Bitcoin by almost 25% after topping out in September at 0.07955 BTC. As the top altcoin declined, it left behind a trail of lower highs and lower lows, thus forming an ascending channel. Later, ETH/BTC broke the channel to the upside on Saturday, raising anticipations about a strong extended recovery trend. But a selloff on Sunday and the ongoing session had traders test the channel’s resistance trendline…

Crypto platform Rally commits $12M to third-party developers

Crypto-social platform Rally has earmarked $12 million for external developers to improve the functionality of the ecosystem, potentially setting the stage for new innovations that would benefit creators.  The grants program will be distributed through RLY tokens, the native cryptocurrency of the Rally ecosystem, the company announced Friday. A community-elected developer council controls $5 million worth of RLY, giving it considerable sway over which types of bounties and rewards get distributed. Prior to establishing the new program, Rally awarded third-party developer grants to Bonfire, MintGate and David Young, the creator…

Ethereum Rallies Above $4K, Why Rally Isn’t Over Yet

Ethereum followed bitcoin and rallied above the $4,000 resistance against the US Dollar. ETH is correcting gains, but the bulls could remain active near $4,000. Ethereum started a fresh increase above the $3,880 and $4,000 resistance levels. The price is now trading above $4,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $3,810 on the hourly chart of ETH/USD (data feed via Kraken). The pair is correcting gains, but there are many supports near $4,050 and $4,000. Ethereum…