Crypto

Bitcoin tests reclaiming 20-month moving average, CryptoQuant says it is prelude to new high

Bitcoin is trying to break back above its 20-month simple moving average ahead of a test of a new record high, an analysis said. CryptoQuant put the 20-month average at $87,165 as of Oct. 16 and said it is a key long-term trend line and the midpoint of Bollinger Bands. The firm described the area below that line as an accumulation base and said past breakouts have led to new cycle highs, while noting resistance and sell orders remain.

Crypto

XRP faces risk of another two-year range as four-year cycle points to prolonged stagnation

XRP is trapped in a $1.30 to $1.59 range and may be entering another long consolidation phase similar to past patterns, according to a report. The analysis points to a recurring four-year cycle in which XRP previously saw two separate roughly two-year stagnant periods. It also cites unusually high open interest and a narrow Bollinger Band as signs that liquidity is building inside the range while momentum remains weak.