With less than a week left in the final quarter of the year, cryptocurrency investors are eagerly anticipating a potential bullish trend. Historical trends indicate that the lackluster price movements seen in the past two quarters could finally shift this October. Encouraging factors such as anticipated interest rate cuts from the Federal Reserve and refunds from FTX are fueling hopes for an upward market swing. What insights do analysts offer regarding Cosmos (ATOM), Ethereum (ETH)
$2,672
, and Bitcoin (BTC)
$63,445
?
### Insights on Cosmos (ATOM)
Cosmos (ATOM), a well-known cryptocurrency, has recently come under the analytical spotlight of expert Altcoin Sherpa. From the analysis presented, a further decline in ATOM’s value seems possible. Investors who have been grappling with losses for an extended period have yet to witness any significant upward trends, let alone reach double-digit prices.
If this downward trend continues, there is a chance that an oversold low could be established around $1.97. However, if bulls manage to defend the $4.57 support level, a recovery to the $10 mark—where the downward movement intensified—could occur. Altcoin Sherpa remains cautious about the future outlook.
### BTC and Ethereum (ETH) Analysis
Ethereum (ETH) is currently trading above $2,600, while Bitcoin (BTC) is working to solidify its support around $63,000. Despite the erratic news cycle, BTC has maintained its position at this critical level. Many analysts foresee a potential target of $65,000 for BTC in the near future. Daan Crypto Trades noted that ETH has successfully broken above the 4-hour 200MA/EMA, indicating a positive trend for the short to medium term.
Rager has shared his thoughts on BTC, expressing a cautious outlook as it remains distant from escaping its current descending channel.
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### Disclaimer:
The information in this article is not intended as investment advice. Investors should recognize that cryptocurrencies are highly volatile and carry significant risks, and should conduct their own research before making financial decisions.
