Another bull run attempt in full swing

Fundamental data

After the correction in the crypto market during the last days in September the positive sentiment has returned. US indices like the Nasdaq also moved higher certainly helping cryptos to gear up steam. With Bitcoin having created a new all- time- high the positive sentiment also pulls altcoins towards higher levels. BTC- ETFs listed in the US were able to accumulate more than USD 3.2 billion during last week of trading. Despite them lagging behind Bitcoin the positive momentum might also gear up steam, if altcoins will be able to accumulate more market share.

This week, traders should continue to focus on the potential releases of US jobless data. The unemployment report as well as the Nonfarm payrolls report might still face a further delay due to the shutdown in the US. Weaker data will likely help markets to rise. Both reports will act as guidance for the Federal Reserve, which might continue to cut rates. That would be a positive move adding fresh liquidity to markets and furthermore might weaken the Dollar.

Technical analysis:

– BTC: Bitcoin is trading at USD 123,400. The token marked a new all- time- high during last week’s trading. Following the correction in September the positive sentiment might now continue. Usually, the break of a recent high will add fresh buyers into markets.

BTCUSD, weekly chart

The weekly chart above shows that the upside might now be open towards the USD 140.000 range. A strong move might hence follow this week if US equities continue to trade strongly. Should stocks and in particular the Nasdaq index proceed lower, sideways pattern might be observed initially.

– ETH: Ethereum is currently trading at USD 4,538. Following the negative push last month also Ethereum has been able to accumulate funds and hence moved higher. The correction stopped above the USD 3,900 level, which indicates further positivity.

ETHUSD, monthly chart

The monthly chart suggests that the positive sentiment might continue. Especially a breakout above the USD 4,800 level would help with the positive momentum. The market might then target the USD 7,000 – 8,000 level depending on the momentum in general.

– XRP: XRP is currently trading at USD 3.0089. Back above the USD 3.0000 level, the positive momentum might increase further base on the psychological sentiment. As discussed before in the past Ripple does not necessarily need positive data to gear up steam. Instead, the positive momentum might help the token at any given time pushing the market higher in general.

XRPUSD, weekly chart

A breakout of the triangle formation might now be on the cards. Any sideways pattern in the coming trading days might generally help the market if no strong push to lower levels can be observed. The trendlines might hence be of potential guidance. Especially a break above the USD 3.2000 price range could be used to follow the bullish trend.

– SOL: Solana is currently trading at USD 231.55. The upside in this token can also be observed but traders might be better off observing some caution with their investments.

SOLUSD, monthly chart

Currently, the market looks set to follow the general positive trend in the crypto space. However, the bearish- looking candlestick from last month might indicate that Solana could still face a further correction. Only a break above the USD 250.00 resistance level might offer fresh upside momentum, whereas a push below the USD 200.00 zone might indicate strong selling pressure again. There are hence strong argument for either direction in this market.