In this detailed technical review dated October 28, the market landscape shows signs of a meaningful pivot across both traditional and crypto assets. With the backdrop of rising geopolitical optimism between the U.S. and China, multiple instruments are reacting — some positively, some reaching key junctures. Let’s walk through the major indices and tokens one by one, analyzing where things stand and what could happen next.
1. S&P 500 (SPX)
The S&P 500 reached new all-time highs most recently, signalling strong buyer momentum. However, technical caution is warranted: a negative divergence on the RSI hints at softening upward momentum. The daily chart shows that maintaining above the 20-day EMA (around 6,704) keeps the uptrend intact; a break below the 50-day SMA (circa 6,603) may open a deeper correction toward ~6,350.
In short: bullish while above major moving averages, but keep an eye on the divergence and support levels.
2. U.S. Dollar Index (DXY)
The dollar index remains firm, with bulls defending support at the 50-day SMA (~98.13). The next meaningful resistance lies near ~99.56; a successful breakout could see a push toward ~100.50 or possibly ~102. Conversely, a drop below the 50-day SMA would suggest bearish pressure, with potential decline toward ~97.46 and ~97.19.
This means that currency markets are not tilting toward dollar weakness yet — a strong dollar could complicate global risk asset rallies.
3. Bitcoin (BTC)
Bitcoin’s recent break above its moving averages shows bullish momentum in force. It cleared the 20-day EMA (~$112,337) and the RSI supports further upside. The next resistance is around ~$118,000; if breached, a retest of the all-time high near ~$126,199 is plausible. On the other hand, the bears have little time — a drop below ~$107,000 would signal risk of trend reversal.
Key takeaway: Bitcoin is in a strong position, but support levels are crucial for the continuation of the up-trend.
4. Ethereum (ETH)
ETH has closed above its 20-day EMA (~$4,047), showing reduced selling pressure. The bulls now aim for the 50-day SMA (~$4,234) and resistance from a descending channel. If the breakout occurs, the next targets are ~$4,957 and potentially ~$5,500. On the flip side, failure to sustain could send the price down toward ~$3,350.
Thus, ETH is in a breakout phase — the key is whether it can overcome the overhead resistance and convert it into support.
5. BNB (BNB)
BNB recently hit the Fibonacci 38.2% level (~$1,156) but could not hold it, indicating some hesitation on the part of bulls. If the price can bounce from the 20-day EMA (~$1,123) the upside targets are the 50% and 61.2% Fibonacci levels at ~$1,198 and ~$1,239 respectively — beyond that ~$1,375 becomes a possibility. Conversely, a break below the 50-day SMA (~$1,067) would undermine the bullish case.
In essence: BNB is in a transitional phase, close to key thresholds; how it behaves here will set the tone for its near-term trend.
6. XRP (XRP)
XRP climbed above its 20-day EMA (~$2.55) and is approaching ~$2.69, a prior support-turned-resistance area. If it gets rejected there but finds support at the EMA, it may rally toward the descending trendline; breaking that could validate a trend reversal. On the other hand, a decisive break below the EMA would open risk toward ~$2.32.
Bottom line: XRP’s next move hinges on whether the ~$2.69 resistance holds — a breakout would be meaningful.
7. Solana (SOL)
SOL has broken above its 20-day EMA (~$197), which is a positive sign. If it can clear the upper boundary of the price channel, the next milestones are ~$238 and ~$260. But if price turns down from the resistance and falls back through the EMA, we may remain stuck in the channel longer.
In summary: SOL looks poised for a breakout, but needs confirmation beyond the channel.
8. Dogecoin (DOGE)
DOGE faces critical resistance at the 20-day EMA (~$0.20). A successful breakout could target the 50-day SMA (~$0.23) and a stronger resistance at ~$0.29, beyond which ~$0.35 becomes feasible. Failure to break out (or a reversal) could see DOGE oscillate in the ~$0.14–$0.29 range for some time.
Interpretation: DOGE remains range-bound unless bulls significantly step up.
9. Cardano (ADA)
ADA did not manage to hold below ~$0.60, which triggered fresh buying interest. Bulls are attempting to push price above the 20-day EMA (~$0.68); success could lead to the 50-day SMA (~$0.78) and further toward ~$1.02 if the descending trendline is breached. If support at ~$0.60 fails, ADA may decline toward ~$0.50.
Crucially: ADA is at a fork — breakout or support failure will dictate the next major move.
10. HYPE (Hyperliquid)
HYPE showed strong upside momentum, clearing the 20-day EMA (~$41.60) and 50-day SMA (~$46.14). If bulls continue, the next target is ~$51.43 and, if breached, maybe ~$59.41. The 20-day EMA will act as key support; loss of that could see a re-test of ~$35.50.
This means: HYPE is one of the more aggressive names right now, but it carries higher risk if support fails.
Overall Outlook & Strategic Thoughts
Across the board, the environment looks favorable for risk assets — the crossover of support levels, the accumulation phases, and positive breakout attempts all point to potential continuation of upward trends. The backdrop of U.S.–China trade hopes adds macro fuel to the fire.
However, several caveats are worth noting:
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Many assets are approaching resistance zones; conviction is needed for breakouts to stick.
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Shorts may still trap overly optimistic bulls — a sudden failure of key supports could trigger sharp declines.
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The strength of the dollar (DXY) is still intact; if it resumes a sharp rise, risk-assets could suffer.
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Technicals are improving, but fundamentals and macroeconomics remain relevant — so risk management is essential.
For traders: monitoring key levels (moving averages, support/resistance) across each instrument is critical. For longer-term investors: this could be a build-up phase, but confirmation of structural breakout is still required.
Conclusion:
October 28 marked a potentially meaningful inflection point. If the bullish cases across SPX, Bitcoin, Ether and a basket of altcoins hold, the path of least resistance may be upward. But with multiple assets near critical junctions, caution and discipline remain advisable.
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