Bitcoin, Polkadot and Solana – European Wrap 22 October

Bitcoin price took off as rumors of an ETF approval gained momentum. Following the trading of the first Bitcoin ETF on the New York Stock Exchange (NYSE), BTC price shattered its previous all-time high and made a new one. While this run-up returned 70% from September 21, things might now slow down briefly before the next leg-up.

Polkadot price is currently facing a decisive moment as it trades between two significantly troublesome barriers. While overcoming these hurdles will be trying, doing so will lead to a volatile move.

DOT/USDT 1-day chart

Solana (SOL) price has successfully broken out of the descending top line that was keeping  SOL price trapped below $200. The breakout rally began  at the level of the 50-day Simple Moving Average (SMA), a level which has provided support on several previous occasions. Today, SOL price hit the monthly R1 at $206.73 and is now on its way higher to the next target at $219.75.

SOL/USD daily chart