These digital assets shed light on cryptocurrency news and the cryptocurrency market:
- Huobi Token (HT) Price Increased 87.30%
- Quantity Price (QNT) increased by 22.56%
- Ethereum Name Service (ENS) price increased by 19.39%
- OKB (OKB) price increased by 11.70%
- Terra (LUNA) price up 9.07%
Huobi Token Price Reaches Critical Resistance
Huobi Token price started a massive upward movement on October 19 and increased by 85% in just five days. This led to a rally of $8.20. However, Huobi Token price was rejected by the USD 8.10 horizontal resistance area and created a long upper wick. The $8.10 area was previously a support since November 2021. Therefore, it is considered a crucial level. Until HT price can break above it, the trend cannot be considered bullish. Moving over this area can greatly speed up the rate of increase.
Huobi Token Price Chart. source: TradingView
Quantum price regains vital $145 level
On June 19, QNT price broke out of the descending resistance line. Previously, the streak had been in place since its all-time high. Breakouts from such long-term structures are usually preceded by a significant upward movement. On October 14, Quant’s price reached a new yearly high of $176.30. The top was formed above the $145 horizontal zone and just below the 0.382 Fibonacci (white) resistance at $190. Now, the $145 area is expected to provide support while the $190 area is likely to act as resistance.
Attempts to hack Ethereum Name Service price above $20
The wave count indicates that the ENS price started a five-wave upward movement on June 14th. On October 4, the price of the Ethereum Name Service broke out of a symmetrical triangle, confirming that the fourth wave has come to an end. Therefore, the continuous increase is part of the fifth wave. Currently, ENS price is trading inside the confluence of Fibonacci resistance levels, established by Fibonacci retracement resistance 0.618 (white) and the length of the first and third waves 0.618 (black). If the ENS price succeeds in moving above it, the next resistance will be between $23.40 and $24.50.
OKB price struggles with resistance
OKB price has been rising inside the ascending parallel channel since September 7th. These channels usually contain corrective motions. OKB price started an upward movement after bouncing at the channel support line on Oct 10th. He is currently trying to move above the midfield. The channel resistance line is located at $19.32. It also coincides with the 0.618 Fibonacci retracement resistance level. As a result, the price will likely be rejected once it gets there.
Terra LUNA price may collapse soon
Similar to OKB price, LUNA price has been trading inside a bullish parallel channel since September 27. She tried to get out of it on October 12, but was unsuccessful in doing so. Now, the price of Terra LUNA is on its way to falling below the middle of the channel. As a result, eventual collapse is likely.
Terra LUNA price chart. source: TradingView
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