Market
These 3 Eye Big Breakouts

October, which has historically been a bullish month for the crypto market, did not start well this time. But as the month progressed, several altcoins found their footing and have shown promising potential.
In this analysis, BeInCrypto highlights three altcoins to watch closely in the third week of October 2024. These picks, backed by notable reasons, include Ethena (ENA), EigenLayer (EIGEN), and Avalanche (AVAX).
Ethena (ENA) Breakout Imminent as SOL Proposal Gains Traction
ENA, the native token of the dollar-dominated saving protocol, tops the list of altcoins to watch this week. In the last 24 hours, its price has increased by 16.54% while trading at $0.39.
This price surge is linked to Ethena’s proposal to add Solana (SOL) as a backing instrument for USDe, its synthetic dollar stablecoin.
“The proposed allocation would be scaled into slowly in consultation with the Risk Committee, considering SOL perpetual futures shorter history of trading, less liquidity, and less historical funding rate data. However, SOL’s ~$2bn of open interest across venues where Ethena presently executes hedging transactions, combined with more favorable funding so far in 2024 relative to BTC and ETH, presents an attractive opportunity to further align Ethena and USDe with one of crypto’s largest ecosystems,” Ethena Lads said in the official announcement.
According to the daily chart, ENA is about to break out of the accumulation zone around $0.40. A look at the Moving Average Convergence Divergence (MACD) shows a bullish crossover, possibly validating an extended uptrend.
The MACD measures trend direction using the positions of the 12 and 26-period Exponential Moving Averages (EMAs). When the longer EMA crosses the shorter one, the trend is bearish. However, as seen below, the 12 EMA (blue) has crossed over the 26 EMA (orange), indicating that buyers are in control.
Read more: 12 Best Altcoin Exchanges for Crypto Trading in October 2024

As long as this remains the same, ENA’s price might climb above the $0.50 resistance. Once that happens, the token could rise to $0.77 before attempting to rise above $1 again. On the other hand, if it experiences widespread selling pressure, ENA might drop to $0.20.
EigenLayer (EIGEN) Price Could Surge After Unlock
Second on the list is EigenLayer (EIGEN), which is set to unlock 11 million tokens on October 15. After the last unlock, EIGEN surged by 20%, raising speculation about a similar outcome this time.
However, between October 12 and 13, EIGEN saw a 9.19% decline. Today, the token has made a slight rebound. While the altcoin could experience resistance at $3.73, the support at $3.58 appears to be strong, which bulls could capitalize on and break above the hurdle.

Should this happen, EIGEN’s price could jump to $3.97 before the week runs out. However, traders should watch out. If demand for the token after the unlock is underwhelming, EIGEN could fall to $3.35.
Avalanche Foundation Buyback Boosts AVAX Price Outlook
This list of altcoins would be incomplete without AVAX. The major reason for the token’s inclusion is Avalanche Foundation’s decision to buy back 1.97 million AVAX from Terraform Labs, otherwise known as the Luna Foundation Guard (LGF).
In April 2022, the foundation sold the tokens for $45.50 million. Today, those tokens are worth nearly $60 million. On October 11, the Avalanche Foundation announced that it had repurchased the tokens and is waiting for approval from the US Bankruptcy Court in Delaware.
“This action ensures that LFG would not violate the original agreement’s restrictions on the tokens’ use and shields the tokens from the complexity of a bankruptcy trustee liquidation while returning 1.97M AVAX to the Foundation’s holdings. This further enhances the Foundation’s ability to support the ongoing growth and development of the Avalanche ecosystem,” the Foundation revealed via a post on X.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season

On the daily chart, AVAX’s price is close to breaking the $30 mark for the first time in October. If achieved, this would help the altcoin rise above the descending trendline and raise the price higher.
The Money Flow Index (MFI), which measures the level of capital injection, also supports this outlook. The MFI reading has surged past the 50.00 neutral level, indicating rising buying pressure.
If this trend continues, AVAX’s price might rise by 30% to $38.18 in the short term. In the event that buying pressure reduces, the prediction might be invalidated. If that happens, AVAX could drop to $24.68.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Bitcoin Bears Tighten Grip—Where’s the Next Support?

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Bitcoin price started another decline below the $85,000 zone. BTC is now consolidating and might struggle to recover above the $83,500 zone.
- Bitcoin started a fresh decline below the $83,500 support zone.
- The price is trading below $83,200 and the 100 hourly Simple moving average.
- There is a connecting bearish trend line forming with resistance at $82,750 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another decline if it stays below the $83,500 resistance zone.
Bitcoin Price Dips Further
Bitcoin price failed to remain above the $85,500 level. BTC started another decline and traded below the support area at $85,000. The bears gained strength for a move below the $83,500 support zone.
The price even declined below the $82,000 level. A low was formed at $81,586 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $83,500 swing high to the $81,586 swing low.
Bitcoin price is now trading below $82,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $82,000 level. The first key resistance is near the $82,750 level. There is also a connecting bearish trend line forming with resistance at $82,750 on the hourly chart of the BTC/USD pair.

The trend line is near the 61.8% Fib retracement level of the downward move from the $83,500 swing high to the $81,586 swing low. The next key resistance could be $83,500. A close above the $83,500 resistance might send the price further higher. In the stated case, the price could rise and test the $84,200 resistance level. Any more gains might send the price toward the $84,800 level or even $85,000.
Another Decline In BTC?
If Bitcoin fails to rise above the $83,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $81,800 level. The first major support is near the $81,500 level.
The next support is now near the $80,650 zone. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,500.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $81,500, followed by $80,650.
Major Resistance Levels – $82,750 and $83,500.
Market
Solana (SOL) Price Risks Dip Below $110 as Bears Gain Control

Solana (SOL) has dropped over 6% in the past seven days and has been trading below $150 since March 6. The current trend shows clear bearish signals across multiple indicators.
From a death cross to a rising ADX and a red Ichimoku Cloud, technicals suggest growing downside pressure. With SOL nearing key support, the next few days could be critical for its price direction.
SOL Ichimoku Cloud Paints A Bearish Picture
The Ichimoku Cloud chart for Solana shows a clear bearish structure, with price action trading below both the Kijun-sen (red line) and Tenkan-sen (blue line).
The Lagging Span (green line) is also positioned below the price candles and the cloud, reinforcing the negative outlook. The Kumo ahead is red and descending, suggesting that resistance remains strong in the near term.

Solana has struggled to break above short-term resistance levels and remains stuck in a downward channel. The thin nature of the current cloud suggests weak support, making the price vulnerable to further downside if bearish momentum continues.
For a reversal, Solana would need to break above the Kijun-sen and push decisively toward the cloud, but for now, the trend remains tilted to the downside.
Solana DMI Shows Sellers Are In Control
Solana’s DMI chart shows a sharp rise in the ADX, now at 40.87—up from 19.74 just three days ago.
The ADX (Average Directional Index) measures the strength of a trend, with values above 25 indicating a strong trend and values above 40 signaling a very strong one.
This surge confirms that the current downtrend in SOL is gaining momentum.

At the same time, the +DI has dropped from 17.32 to 8.82, while the -DI has climbed to 31.09, where it has held steady for the past two days.
This setup suggests that the sellers are firmly in control, and the downtrend is strong and also strengthening.
As long as the -DI remains dominant and ADX stays elevated, SOL is likely to remain under pressure in the short term.
Can Solana Drop Below $110 Soon?
Solana recently formed a death cross, a bearish signal where short-term moving averages cross below long-term ones.
It’s now approaching key support at $120—if that level breaks, Solana price could drop to $112, and possibly below $110 for the first time since February 2024.

If bulls step in and buying pressure returns, SOL could rebound toward resistance at $136.
A breakout above that level may lead to a push toward $147, which acted as strong resistance just five days ago.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Top 3 Made in USA Coins to Watch This Week

Made in USA coins are showing mixed signals as April begins, with XRP, SUI, and Pi Network (PI) standing out. XRP leads in market cap but also posted the biggest drop among the top 10, down 10.6% this week.
SUI is the only major gainer, up 3.8%, showing some strength despite broader weakness. Meanwhile, PI has been the worst performer, plunging over 23% and staying below $1 all week.
XRP
XRP is the largest Made in USA crypto by market cap, but it’s also down 10.6% over the last 7 days—the biggest drop among the top 10. This sharp correction could present an opportunity, especially with Trump’s “Liberation Day” event coming up on April 2.
If XRP builds an uptrend, it could push to test resistance at $2.22. A breakout there may lead to moves toward $2.47 and even $2.59 if momentum grows.

If the downtrend continues, XRP could revisit support at $2.06. A breakdown below that level might drag it further down to $1.90.
With volatility rising and a possible narrative shift on the horizon, XRP could be a key coin to watch this week.
SUI
SUI is the only among major Made in USA cryptos showing gains over the past week, up 3.8%, even though it’s still down 13% over the last 30 days. This resilience sets it apart from the rest of the pack.
In the last 24 hours, trading volume has dropped 15% to $767 million. The coin’s current market cap is $7.43 billion.

SUI’s EMA lines recently formed a death cross, hinting at a possible downtrend. If confirmed, the price could drop to $2.23, with further downside to $2.11 and $1.96.
If SUI manages to reverse the trend, it could climb toward $2.50. A breakout there would open the door to $2.83, nearly 20% higher from current levels.
Pi Network (PI)
Pi Network (PI) is the biggest loser among Made in USA cryptos this week, with its price down over 23% in the last seven days.
It has been trading below $1 throughout the entire week.

If sentiment shifts, PI could rebound toward resistance at $1.05. A breakout there might lead to a push-up to $1.23.
But if bearish pressure continues, PI could fall to test support at $0.718. A drop below that would send it to $0.62—its lowest level since February 21.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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