Crypto Price Analysis October-18: ETH, XRP, SOL, DOGE, and SUI
This week, we examine Ethereum, Ripple, Solana, Dogecoin, and SUI in greater detail.
Ethereum (ETH)
Ethereum closed a great week with a 9% price increase after buyers dominated on Monday. Since then, the price has been cooling down a bit by moving sideways, but the bulls don’t seem to be satisfied, and they may be preparing their next offensive.
The current target for this rally is $2,870, which will likely see sellers attempt to regain control of the price action. However, the momentum on higher timeframes, such as the weekly, gives buyers the advantage.
Looking ahead, the market is heating up again, which gives hope for a sustained recovery. If bulls manage to break above the key resistance at $2,870, then ETH has a clear path toward $3,000 next.
Ripple (XRP)
XRP lagged behind the rest of the market but still booked a respectable 3% price increase this week. While buyers managed to hold the price above the support at 54 cents, they were unable to push it much higher, so the PA was rather flat.
Nevertheless, if the overall market remains positive, XRP could soon attempt to rally with the next key target waiting at 60 cents. Once that is broken, bulls can aim for 68 cents, which is the most important resistance on this chart.
Looking ahead, the bias is bullish right now, but there is little buy volume. This could change at any moment, and XRP could make a quick dash to higher levels. Keep a close eye on the 60 cents level, as that will be decisive for any successful breakout.
Solana (SOL)
Solana also had a great week and closed with a 9% price increase. While this performance is encouraging, it was not enough to push the price above the key resistance at $164. This level continues to give problems for bulls, as they have been unable to break it several times since August.
Either way, the price action is making clear higher lows, which creates a bullish bias. Eventually, buyers will have another go at the key resistance, and if sufficient momentum builds up, they may be successful.
Looking ahead, if Solana manages to move above $164, it will finally be able to aim for $200 again, a level it lost in March. Good support is found at $134.
Dogecoin (DOGE)
After a mind-blowing 24% rally this week, DOGE doesn’t seem to have finished. This surge started after a clear breakout above 10 cents. Now, the price is just under the 13.5-cent resistance, which may not hold for long if this buying pressure continues.
The bullish momentum is very strong, and Dogecoin may be set to catch up with the other meme coins that ran in the past few weeks. Money may also be rotating back to DOGE, which seems attractive at these price levels.
Looking ahead, a breakout above 13.5 cents would set this meme coin free to aim for 20 cents again. The price action also shows a clear reversal and resumption of the bullish trend.
SUI
SUI broke a new record this week after making an all-time high at $2.36. However, sellers have returned since then, which pushed the price into a correction. Nevertheless, this cryptocurrency still closed the week with a 10% increase.
The current pullback may find good support at around $1.9, where buyers could be waiting to enter again and stop this correction. If so, higher levels will likely occur later on once confidence in this rally is restored.
Looking ahead, SUI is one of the few altcoins that managed to make an all-time high this year, which puts it in a very exclusive club. This is also a signal of strength to the market, which may allow SUI to enter price discovery and move much higher. Good psychological targets for this rally are found at $2.5 and $3.
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