Crypto Analysis: Ethereum Hold Steady at $1,800 While SOL Flips $36

Ethereum and other cryptocurrencies will close October with significant increases. These positive changes also had a positive effect on the global cryptocurrency market. The industry no doubt registered significant changes.

The sector under consideration opened the month at $1.08 trillion but dropped as trading continued. It soon dropped to a low of $1.04 trillion but rebounded and started an uptrend. It soon reached a high of $1.28 trillion and is currently around this valuation. The difference between the opening price and current value suggests a more than 15% increase.

RUNE is one of the top gainers during this period. It kicked off trading at $1.92 but dropped to a low of $1.47 before a rebound. It soon made an attempt at the $3 resistance but it faced strong rejection at $2.95. This was also the highest the coin attained. The most recent price suggests that the altcoin is up by more than 52%.

With some of these assets seeing tremendous gains, others are also registering losses. One such is Maker. It opened the month at $1,534 but soon surged to a high of $1,648. Trading at $1,358, tbis is an indication that the altcoin may close with losses of up to 11%.

Assets like Ethereum also registered significant volatility during this period.

Ethereum  Hold on to $1,800

Ethereum is currently is experiencing a huge back-and-forth around $1,800. Over the last 24 hours, the coin tried to return to its high a few hours ago. As a result, it peaked at $1,849 but soon dropped to a low $1,782.

The coin started October at $1,671 and registered significant increases on the first day. It peaked at $1,755 and closed the day with gains of almost 4%. However, it soon lost all the gains during the next 24-hour period. 

As the month progressed it soon dropped to a new low. On the 12th day, it tried testing the $1,500 support but failed as it rebounded at $1,520. As a result, it did not register any significant changes.

Another highlight took place last week’s Monday when Ether had its biggest surge and attained an important milestone. For the first time in almost fourteen days, it retested the $1,800 resistance but failed to break. Nonetheless, it closed the day with gains exceeding 6%.

Following the bullish performance that saw the apex altcoin gain more than 8% on the monthly scale,many are looking forward to more increases. It is worth noting that indicators are still positive at this time, with the exception of the Relative Strength Index.

Solana Flips $38

Solana is close to the conclusion of its second most profitable month of 2023. It kicked off trading at $21.3 but had a significant boost as trading conditions improved.

It no doubt broke several resistance over the last thirty days. One such critical levels is the $35 barrier. For the most part of October,  SOL tried breaking it but failed until the previous intraday session. It peaked at $35.3 before a small correction.

A few hours ago, the bulls pushed further as the altcoin broke $38. Currently trading little below this high, this means solana is trading more than 70% higher than its opening price.

It is worth noting that the Relative Strength Index is slowly approaching its eleventh day above 70. This could be an indication of an incoming massive downtrend