) skyrocketed 28.5% in October, its second-best monthly gain of the year behind the 40% rally in January. After the strong showing in October, the next question on investors’ minds is, could the bullish momentum continue and Bitcoin extend its recovery going forward?to $150,000 by 2025.
If bears want to gain the upper hand, they will have to tug the price back below the 20-day EMA . That may catch the aggressive bulls on the wrong foot, leading to long liquidation. The pair may then slump to the 50-day SMA .The BNB/USDT pair has turned down and reached the breakout level of $223. Buyers are likely to defend the zone between $223 and the 20-day EMA . If the price rebounds off this zone, the bulls will again attempt to kick the pair toward the overhead resistance of $235.
While the trend remains up, the overbought levels on the RSI suggest that the rally is overheated in the near term. That may make it difficult for the bulls to continue the up-move. A break and close below $38.79 may tempt short-term traders to book profits. That may sink the pair to $34.The nearby support on the downside is the 20-day EMA . Buyers are expected to defend this level with vigor.
Toncoin has formed a range between $1.89 and $2.31 for the past few days. The price turned down from $2.27 on Oct. 31 indicating that the bears continue to sell near the resistance.The TON/USDT pair has slipped to the immediate support at the moving averages. If the price rebounds off this level with force, it will suggest that the sentiment has turned positive and traders are viewing the dips as a buying opportunity.