Ethereum maintains over $4000 while Monero surpasses crucial level, BlockDAG approaches Binance AMA

Crypto traders are closely monitoring three significant developments impacting the market this week. BlockDAG has once again captured attention after successfully raising more than $430 million in its presale and announcing details about its highly anticipated Binance LIVE AMA, scheduled to take place on Friday at 3 PM UTC. At the same time, the price surge of Ethereum (ETH) has instilled confidence by surpassing the $4,000 threshold, and the latest technical analysis of Monero (XMR) indicates a potential breakout above the $307 mark.

As excitement spreads throughout the altcoin market, BlockDAG (BDAG) emerges as a standout cryptocurrency to consider investing in at this moment, with a supportive community, solid fundamentals, and an increasingly growing market presence. As traders gear up for potential new highs, the focus remains on where the next significant influx of capital will be directed.

Ethereum has maintained its strength above the $4,000 level, with its recent price increase boosting confidence among investors. ETH has experienced a gain of over 4% in a single session, currently trading around $4,062, showcasing a defense of strong support levels while encountering minor resistance. Although the coin is trading below its MA-20 ($4,201) and MA-50 ($4,285), indicating short-term selling pressure, the overall outlook remains positive above the MA-200 ($3,201).

Technical indicators suggest a delicate equilibrium between buying and selling pressures. The MACD and ADX indicate a gradual recovery, while the RSI and CCI suggest potential oversold conditions, providing an entry point for buyers. Analysts anticipate a 75% probability of ETH consolidating within the $3,450 to $3,800 range next week, possibly experiencing a breakout if it surpasses the $4,095 resistance level.

Furthermore, Ethereum’s ongoing efforts in upgrading features like the new GKR proof system have attracted attention. This enhancement aims to enhance zero-knowledge computations’ speed and make rollups more efficient and cost-effective. These advancements continue to position ETH as one of the top cryptocurrencies to consider investing in now, with traders expecting renewed strength in the coming quarter.

Monero has successfully broken through the key barrier at $307, with a 5.7% daily increase propelling prices to $311. The project, focused on privacy, has broken through significant resistance at $307, indicating strong buying momentum after weeks of sideways movement. Analysts attribute this momentum to the Fluorine Fermi upgrade, implemented on October 9, which protects against spy nodes and enhances network security, marking a substantial advancement in Monero’s technology.

XMR is currently trading close to its 24-hour high of $315, supported by strong liquidity and a market cap exceeding $5.7 billion. The MACD histogram reflects a minor selling pressure at -2.8, while the RSI hovers around 51, signaling a brief pause before the next move. Key support levels are positioned at $298 and $283 for downside protection, with a potential commencement of a bullish phase upon a daily close above $327. Analysts remain cautiously optimistic, highlighting Monero’s robust network strength and appeal as a privacy coin, continuing to position XMR as one of the leading cryptocurrencies to consider investing in currently.