Market overview: The crypto market showed limited momentum as of the October 31 close. Out of 196 liquid USDT pairs, 88 closed in the green, representing 45% of the market. Trading activity was generally subdued with low volume across major assets. AIN led the gainers with a 27.6% increase, while Q saw the largest decline at 35.6%.
Bitcoin: $BTC closed at 77,523, marking a 0.27% gain for the day. Despite this, the asset remains down 4.11% over the last week and 8.61% over the last month. The daily range was tight at 0.90%, with a high of 77,753 and a low of 77,060. The RSI14 sits at 35, and the MACD histogram is falling below zero. While the trend remains mixed, BTC is still trading above its EMA200 of 74,554. Volume is notably low at 0.4x the 20-day average.
Ethereum: $ETH finished at 2,255, up 0.49% on the day. Similar to BTC, it has faced downward pressure over the longer term, down 4.37% weekly and 16.65% monthly. The asset is hovering near its EMA200 of 2,243. The RSI14 is at 32, and the MACD histogram is rising below zero. Trading volume remains thin at 0.3x the 20-day average, reflecting a lack of conviction in the current range.
Altcoins: $ZEC closed at 1,251, down 1.45%, though it maintains a strong uptrend above its key moving averages. HYPE saw a 2.16% decline to 88.06 but remains in an uptrend with a significant 30.33% increase in open interest. SOL closed at 95.44, down 0.89%, with an RSI14 of 30 indicating potential weakness. AIN was the standout performer, closing at 0.2347 with a 29.70% gain and volume at 8.6x the 20-day average, signaling high volatility and interest.
Derivatives & liquidity: Funding rates are mixed, with BTC at +0.0100% and ETH at -0.0030%. Long positioning remains dominant in BTC, ETH, and SOL, with 74% to 75% of accounts holding long positions. AIN shows a distinct divergence with only 32% of accounts long despite its massive price surge. BTC open interest decreased by 3.21%, while AIN saw a massive 517.65% spike in open interest. The largest short-liquidation cluster for BTC sits above 82,707, while the largest long-liquidation cluster is below 72,535.
Key levels for the next 24h: BTC faces resistance at its 20-day high of 84,875 and support at its 20-day low of 76,270. The EMA200 at 74,554 remains a critical structural floor. ETH has support near its 20-day low of 2,173 and resistance near 2,579.
Scenarios: A bullish scenario triggers if BTC breaks above 77,753 with a surge in volume, potentially targeting the 80,000 level. A bearish scenario triggers if BTC falls below 77,060, which could invite a test of the 76,270 support level and potentially the EMA200.
Bottom line: The market is currently characterized by low volume and a wait-and-see approach. While major assets are holding above their EMA200 levels, the lack of volume and mixed MACD signals suggest that the current consolidation phase may continue until a clear catalyst emerges.
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⚠️ This report is based on technical indicators and is not investment advice. Always set a stop-loss and manage your own risk.