Back

BCH, LINK, BNB and ADA Price Analysis for October 24

Which altcoin is about to repeat the sharp growth of Bitcoin (BTC)?

article image
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 CryptoComes. 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.

The recent bullish mood has been mixed with the bearish one that has arrived on the cryptocurrency market. Some coins from the Top 10 list have entered the red zone. Mainly, XRP is the top loser today, falling by 1.11% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The crucial data on Bitcoin Cash (BCH), Chainlink (LINK), Binance Coin (BNB) and Cardano (ADA) today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin Cash

BCH

$5,051,379,175 $272.27 $2,294,419,421 -0.11%

Chainlink

LINK

$4,809,403,404 $12.38 $1,484,803,076 3.41%

Binance Coin

BNB

$4,423,859,920 $30.63 $495,707,480 -0.23%

Cardano 

ADA

$3,400,177,573 $0.109287 $1,058,888,728 -0.89%

BCH/USD

Although the rate of Bitcoin Cash (BCH) has decreased since yesterday, it has gained 8.49% over the last week.

BCH/USD chart by TradingView
BCH/USD chart by TradingView

On the daily chart, Bitcoin Cash (BCH) has growth potential as the altcoin has successfully bounced off the support at $210. It is too early to consider the update of the peaks as there is not enough liquidity for that. However, the buying trading volume is going up, which supports upcoming growth. All in all, there is a possibility of seeing Bitcoin Cash (BCH) at the resistance around $340 by the beginning of Nov.

Ads
Ads

Bitcoin Cash is trading at $271.73 at press time.

LINK/USD

Chainlink (LINK) is the main gainer today from our list, as the rate of the altcoin has increased by 3.41% over the previous 24 hours.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

Chainlink (LINK) is trading similarly to Bitcoin Cash (BCH). At the moment, the altcoin is approaching the first resistance at $12.90. In case buyers break it, there are chances to expect $14.78 soon. However, liquidity is low, which means that a new set of peaks is unlikely.

Chainlink is trading at $12.32 at press time.

BNB/USD

Binance Coin (BNB) is the least volatile cryptocurrency from our list over the last week. The price change has accounted for +1.44%.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

On the daily time frame, Binance Coin (BNB) has been trading in the rising channel since the beginning of Sept. The trading volume remains at a relatively moderate level. However, the liquidity is not enough to update the peaks.

👉 MUST READ BTC, XRP, and XLM Price Analysis for October 23related article image

Currently, the sideways trend in the area of $31-$33 is the more likely price action as the coin needs to accumulate power to break the resistance at $34.

Binance Coin is trading at $30.50 at press time.

ADA/USD

Cardano (ADA) is the biggest loser today, as the coin has lost 0.89% since yesterday.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

After a false breakout of the $0.08 support level, Cardano (ADA) keeps rising. The trading volume is moderate, which means that traders are accumulating the position before a sharp move. According to the technical analysis, continued growth is more likely than a fall, as most of the liquidity is focused around the resistance at $0.14. If Cardano (ADA) reaches that area, the retest of the recent local peak at $0.16 is just a matter of time.

ADA is trading at $0.1082 at press time.

Subscribe to CryptoComes.com on Twitter,and get involved in all top daily crypto news, stories and price predictions!

article writer image
Denys Serhiichuk

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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com