Bitcoin

Sherpa

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/market-analysts-assess-bitcoin-dxy-and-tao-coin-trends/" data-wpel-link="internal">Market Analysts Assess Bitcoin, DXY, and TAO Coin Trends</a> 
As geopolitical tensions escalate, the price of BTC has fallen to $63,460. It is not a favorable day for <a href="https://en.coin-turk.com/sui-network-sees-significant-price-increase-and-wallet-activity/" data-wpel-link="internal">altcoins</a>, with most <a href="https://en.coin-turk.com/bitcoin-surpasses-66000-as-altcoins-rally/" data-wpel-link="internal">cryptocurrencies</a> experiencing declines of over 3%. Three different analysts shared their latest chart interpretations for BTC, DXY, and TAO Coin just hours before the end of September. What insights do these charts provide? 
<h2 style="text-align: justify" id="tao-coin-analysis">TAO Coin Analysis</h2> 
The chart shared by the analyst known as Sherpa pertains to a previously discussed entry point. As ground operations began in Lebanon during the preparation of this article, if these tensions negatively impact cryptocurrencies, the analyst’s designated entry target may be realized. The chart indicates an entry price of $453 while TAO hovers around the $600 threshold. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-393093 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/tao-coin-ekim-tahminleri.jpg" alt="" width="2168" height="1179"> 
Additionally, this chart could provide insights for those looking to short the rapidly increasing TAO Coin price. Support levels of $508 and $453 are shown, alongside further supports at $409 and $364. The current outlook suggests that if BTC continues to weaken as October begins, these support levels may be tested. 
<h2 style="text-align: justify" id="dxy-and-btc-insights">DXY and BTC Insights</h2> 
To monitor the strength of the dollar, one can look at the DXY chart, which has consistently sought to close below 100.5. In today’s market assessment, Lady of Crypto analyzes the DXY chart, noting that for risk assets to rise further, DXY needs to decline. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-393094 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/dxy-analist-yorumu.png" alt="" width="890" height="592"> 
<blockquote> 
 “The decline of DXY is a positive sign for cryptocurrencies. In bear markets, investors hold cash, strengthening USD. Conversely, in bull markets, investors sell cash for riskier assets, weakening USD. DXY is at its lowest in nine months and approaching a 14-month low.” 
</blockquote> 
Roman, the third analyst, examined Bitcoin ‘s daily chart today. He noted that the previous breakout is starting to appear as a deviation, warning of a potential drop to $55,000, which could demoralize investors. 
<blockquote> 
 “Our previous breakout seems like a deviation. There’s a feeling we might continue consolidating upwards, but we should keep the $55,000-$57,000 range in mind due to this deviation.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-393095 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/btc-ekim-ayinda-kac-dolar-olur.jpg" alt="" width="1442" height="801"> 
The post <a href="https://en.coin-turk.com/market-analysts-assess-bitcoin-dxy-and-tao-coin-trends/" data-wpel-link="internal">Market Analysts Assess Bitcoin, DXY, and TAO Coin Trends</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Market Analysts Assess Bitcoin, DXY, and TAO Coin Trends

Table of Contents

COINTURK NEWS

Other articles published on Sep 30, 2024

Valour debuts physically-backed Ethereum staking ETP on LSE

Why Is Mina Protocol (MINA) Price Breaking Out? Bullish Setup Points to Double-Digit Gains

Donald Trump Initiates KYC for DeFi Project

South Korea’s National Pension Fund Clarifies Its Crypto-Related Investments

Trump: America will become crypto capital through World Liberty Financial

Bitget Connects Telegram Mini Apps to Web3 with New Dev Kit

Join our free newsletter for daily crypto updates!