Cryptocurrency Market News Live Updates Latest News: the Federal Open Market Committee will release its September meeting minutes for U.S. inflation data on Thursday. However, in fear of a higher interest hike in November, the majority of major cryptocurrencies are losing more ground.
The Bitcoin price currently trades at $19303, with an intraday loss of 0.68%, whereas the smart contract giant Ethereum trades at $1309 and shows a 1.06% drop.
Uncertainty Increases Choppiness In Layer 1 Blockchain Tokens
Solana (SOL)
The SOL/USDT pair has been wobbling in a narrow range from $35 to $30 for nearly a month. Furthermore, the price has been multiple times retested both barriers mark the market participants’ lack of commitment to choose a particular side. The Solana price exchange hands at $32.57, with an intraday loss of 1%.
Interested traders should avoid entering this no-trading zone. A breakout from either level will shoot a directional rally on the respective side.
Cardano(ADA)
The Cardano coin price is presently answering to a descending triangle pattern in the daily time frame chart. This bearish pattern should intensify the selling momentum if a daily candle closes below the $0.416 neckline support.
Amid the ongoing sell-off in the crypto demand, the ADA price plunged to neckline support, where it currently trades at the $0.416 mark. The altcoin registered a 1.65% intraday loss and tried to rebound from the bottom level. Doing so keeps prices under the bearish pattern influence for a few more sessions.
Avalanche(AVAX)
The AVAX price actively responds to a downsloping trendline, and horizontal support of $16.5 reveals the formation of a descending triangle pattern. The altcoin currently trades at $16.63 with an intraday loss of 1.54%. However, this bearish pattern could tumble the prices by 11.8% to hit the June bottom support of $11.5.
Conversely, a bullish breakout from overhead will undermine the bearish thesis and push prices above $18.
Polkadot(DOT)
The Polkadot price witnessed a textbook range-bound movement between the $6.58 and $6 barriers. Today a red bearish engulfing candle of 2.31% loss turned down from $6.85 resistance and currently trades at the $6.33 mark. This development should plunge the price 3.4% down to hit $6 support.
However, a breakout from the range barriers should begin a directional rally for DOT price.
