Crypto Majors Hit October Volatility Spike As Moving Averages Crack
Key Summary
Major digital assets suffered aggressive sell-offs on October 31, with Bitcoin testing the 200-day moving average near $76,400 while Binance Coin, XRP, and Ethereum breached critical technical floors amid escalating liquidation volumes.
Key Bullets
- Bitcoin slid to $76,650 on Thursday, testing the 200-day moving average near $76,400 after a decisive rejection from the $81,000 resistance band.
- Binance Coin tumbled to $696.43 after failing to hold the $750 recovery zone and slipping below the orange 100-day moving average.
- XRP dropped to $1.2352 and broke beneath the $1.30 threshold, with the RSI sliding into the low 30s as selling volume increased.
- Ethereum extended its correction to $2,222.59 following a sharp rejection from the $2,350 resistance region on daily exchange charts.
Bitcoin Tests Critical Support Lines
Bitcoin dropped to $76,650 on October 31 following a decisive rejection from the $81,000 resistance region. Order-book data monitored by exchange aggregators revealed heavy selling volume during the session. Daily charts show the leading digital asset sliding through multiple moving averages to test the 200-day moving average near $76,400. Bulls must defend this exact zone to prevent deeper corrections toward $74,000.
The daily RSI slipped into the mid-30s. Sellers currently command market momentum. Order-book depth shows immediate support resting at $76,000. Reclaiming $78,000 remains the primary objective for buyers attempting a recovery toward $80,000.
Binance Coin Slips Below Averages
Binance Coin declined to $696.43 after failing to sustain any recovery above the $750 resistance level. Spot trading records confirm the price reversed sharply from previous October peaks near $810. The asset dipped beneath the 100-day moving average sitting at $707. Bears are now targeting the $680 floor if the $690 moving average gives way.
The RSI drifted toward the lower boundary of the neutral band. Trading volume spiked during the downward move. Bulls need to retake $710 immediately to neutralize the short-term bearish bias.
XRP And Ethereum Extend Losses
XRP fell to $1.2352 after losing the crucial $1.30 support region. Intraday data from spot venues indicate fading momentum following September rallies toward $1.60. The nearest floor sits between $1.20 and $1.22. A confirmed break beneath $1.20 exposes the asset to further declines toward $1.15.
Ethereum traded down to $2,222.59 after rejecting the $2,350 resistance ceiling. Sellers seized operational control of daily order flows. ETH requires a daily close above $2,300 to alleviate immediate downside pressure.
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