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

Price Predictions
Sun, 10/17/2021 - 14:55
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Denys Serhiichuk
Which altcoins have the chance to rise as high as Bitcoin (BTC)?
BTC, ETH, DOGE and SHIB Price Analysis for October 17
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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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
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
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.

Related
BTC, ETH and XRP Price Analysis for October 15

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
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
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/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.

Related
BTC, ADA, DOGE and SHIB Price Analysis for October 14

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.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.