Market Battlegrounds: Key Levels That Could Tip the Balance

The S&P 500 Index (SPX) faced a sharp decline below the 20-day exponential moving average (6,652) on October 11, signaling profit-taking by traders Cointelegraph^[1]. Bulls subsequently bought the dip to the 50-day simple moving average (6,538), pushing the index to the 20-day EMA. A close above this level would suggest the correction has ended, with potential retesting of the all-time high of 6,764. Conversely, a failure to hold above the 20-day EMA risks a decline to 6,350 and possibly 6,200 Cointelegraph^[1].

The US Dollar Index (DXY) closed above moving averages on October 9, indicating weakening bearish momentum Cointelegraph^[1]. Bulls pushed the price above a downtrend line but failed to sustain the breakout. A rebound from the 20-day EMA (98.26) could target 100.50 and eventually 102. A close below moving averages, however, may trigger a drop to 97 and 96.21 Cointelegraph^[1].

Bitcoin (BTC) rejected a double-top pattern by holding above $107,000 Cointelegraph^[1]. After dipping to $102,000 on October 11, the price rebounded sharply, indicating strong buying at lower levels. A breakout above the 61.8% Fibonacci retracement at $116,955 could target $121,020 and the all-time high of $126,199. A breakdown below $107,000, however, raises risks of a collapse below $100,000 Cointelegraph^[1].

Ethereum (ETH) re-entered a descending channel after buyers pushed the price to $4,700 Cointelegraph^[1]. The 38.2% Fibonacci retracement at $4,600 is critical for maintaining the uptrend. A deeper pullback to $4,370 may attract buyers, but a sustained break below the channel could signal a near-term peak Cointelegraph^[1].

Binance Coin (BNB) surged to a record high of $1,375 on October 14 but faces selling pressure at $1,350 Cointelegraph^[1]. A close above this level could target $1,609, while a failure to hold the 20-day EMA ($1,145) may trigger a short-term top Cointelegraph^[1].

XRP (XRP) completed a bearish descending triangle, plunging below the $1.72 target Cointelegraph^[1]. A rebound from the $1.25 low has pushed the price toward the 20-day EMA ($2.77), where bears are expected to defend. A breakdown below $2.20 could lead to $2 Cointelegraph^[1].

Solana (SOL) broke below an ascending channel on October 11, prompting buyers to push the price to $168 Cointelegraph^[1]. A close above the channel's breakdown level could target $260, while a breakdown below $168 may deepen the correction to $155 Cointelegraph^[1].

Dogecoin (DOGE) rebounded from the $0.14 support, re-entering the $0.14–$0.29 range Cointelegraph^[1]. A test of the 20-day EMA ($0.23) may attract sellers, with a potential drop to $0.18 if the level fails Cointelegraph^[1].

Cardano (ADA) collapsed below a descending channel to $0.27 on October 11 but rebounded to $0.78 Cointelegraph^[1]. A breakdown from the 20-day EMA ($0.78) could target $0.60, while a sustained break above the channel may resume the uptrend Cointelegraph^[1].

Hyperliquid (HYPE) completed a head-and-shoulders pattern, plunging to $21 Cointelegraph^[1]. A rebound from the neckline at $35.50 may face bearish resistance, with a potential drop to $30.50 if the level fails Cointelegraph^[1].