Will Friday hold the price up, or could we see a fast retest of support?

27.10.2023

Dear traders,

The crypto market is consolidating under resistance, and we could witness a rapid retest of support before the next significant move.

Jake
TOP Trader

BTC is still in consolidation under $35k, preparing for its next major move. There is still a possibility of a retest at $31,500, which is a strong support level, followed by a continuation of the bullish push if the price manages to hold.

ETH is currently grappling with substantial resistance at $1830. To continue its bullish trend and return to the $1900 channel, it needs to break above this level. Caution should be exercised if a significant volume of selling pressure pushes the price lower.

XRP has successfully broken strong resistance at $0.54 and is now approaching the older resistance at $0.585. To ensure a strong bullish upward push, it needs to maintain levels above $0.54.

LINK aims to break the resistance at $11.5 and make a significant upward push. Sustaining levels above $9.5 is essential for significant bullish momentum.

SOL is trying to break strong resistance and is still holding well for a bigger upward push. The bullish momentum can only continue if the $29 support level remains intact. A major resistance at $33.5 needs to be strongly pushed above for a bullish continuation.

EOS is still struggling with a formidable resistance level at $0.6. Maintaining levels above this resistance is crucial for a more extensive upward movement. Achieving a sustained price increase depends on a significant surge in buying volume.

LTC is currently breaking into the $70 resistance level, and only a push above it, along with holding that level, could drive the price higher. There is still a risk if the price doesn’t stay above $70.

DXY is bringing back strength for a push up and needs to hold above 106.2 for a more extensive bullish continuation.

Crypto/stock daily news:

2 GUESSES LEFT TO UNLOCK $240M+ WORTH OF BTC

Earlier this year we talked about the crazy story of Stefan Thomas.

He’s the former Chief Technology Officer of Ripple
He got paid 7,002 BTC to make a YouTube video called “What is Bitcoin?” back in 2011 (worth ~$244M at today’s prices)
He put the Bitcoin on an encrypted USB device but then lost the password to it and hasn’t had access since

Over the last 12 years, Stefan has been trying to guess the password to regain access to his now-9-figure fortune. It’s been twelve years of torture.

The bad news? He only gets 10 guesses.

After 10 failed tries, the device permanently encrypts its content (i.e. the BTC will be lost forever)

Stefan’s already used up 8 of his guesses. *gulp*

The good news? Unciphered (a cybersecurity company that specializes in crypto recovery) thinks they can get Stefan his BTC.

The company claims:

It’s developed a “secret IronKey password-cracking technique” that gives them infinite password attempts – not just 10.
It’s unlocked the same device Stefan has (2011 IronKey) over a thousand times, without destroying or damaging it.I
t’s done 3 demonstrations for WIRED.

And Unciphered just wrote an open letter to Stefan to convince him to let them try on his device…

The problem? Stefan isn’t budging.

He says he hired another cybersecurity company and an independent security researcher and wants to give them more time before looking elsewhere.

Turns out, Stefan is harder to crack than the IronKey itself.

FAST NEWS:

Mastercard is teaming up with MoonPay. MoonPay will incorporate compliance-friendly Mastercard’s Crypto Credential system and integrate payment tech like Mastercard Send and Click to Pay.

Vodafone’s Digital Asset Broker (DAB) ran a proof of concept with Chainlink Labs to support its trade processes. The companies used Chainlink’s cross-chain interoperability protocol (CCIP) to provide security and interoperability as data and tokens were shared across public and private blockchains.

Crypto’s Fear & Greed Index hit its highest level (72) since November 2021. *sniff sniff* nothing but greed in the air! (btw, don’t know wtf the fear & greed index is? We got you covered here.)

Polygon’s new crypto token (POL) is live on Ethereum’s mainnet. The new token is designed to support a vast ecosystem of various zero knowledge layer-2 chains through a native re-staking protocol.

LayerZero launched a new omnichain token. This will give users the ability to move wrapped stETH tokens (wstETH) from the liquid staking protocol Lido Finance across Ethereum, Avalanche, BNB Chain, and Scroll.