Bitcoin near $85,000 faces $87,000 resistance, U.Today says; ZEC cools, SHIB tests MA
In brief
- BTC sat near $85,000, below $86,000-$87,000 resistance, in U.Today's October 5 analysis.
- BTC's broader setup stays bullish while it holds above $82,000, the report said.
- ZEC lost roughly 20% in a week after gaining more than 180% over three months.
- SHIB is testing a long-term moving average that has capped it for months, per U.Today.
Bitcoin's $83,000-$87,000 box
U.Today's charts put BTC near $85,000, above all of its major moving averages, with RSI holding above the midpoint. The analysis said a daily close above $87,000 would confirm the setup technically (and, in its view, could bring $89,000-$90,000 within reach).
The downside map is just as specific. U.Today placed the first meaningful support around $83,000-$84,000, then about $82,000 as the more important structural level, followed by a rising moving-average cluster near $78,000-$79,000. The broader setup stays bullish as long as BTC holds above $82,000, the report said.
U.Today called a break of the $83,000-$87,000 range the clearest signal of BTC's next direction.
Zcash cools after a 180% run
ZEC traded around $1,330 on U.Today's daily chart, down from about $1,680 near the September peak. That's a loss of roughly 20% over the past week, after gains of more than 180% over three months. The analysis said ZEC remains in a strong longer-term uptrend, but the parabolic phase has ended.
Buyers have stepped in several times in the $1,280-$1,330 range, it said, while the short-term moving average is flattening near the current price and the daily RSI has slipped back toward neutral after staying elevated for much of September. U.Today named $1,400-$1,450 as the first major upside target. A decisive break below $1,280 could expose roughly $1,150-$1,200, per the report.
U.Today also said the Zcash NU7 public testnet is scheduled for October 6, though the proposed faster block times won't reach mainnet right away.
SHIB tests a months-old ceiling
SHIB traded around $0.00000570, according to the analysis, after a late-September rally briefly lifted it above $0.00000620. The key development, in U.Today's read, is the token's interaction with its long-term moving average around $0.0000056-$0.0000057 (a level that's acted as resistance for months). SHIB has already broken above its shorter moving averages, which are now turning upward beneath the price.
Momentum has stalled, though. U.Today put RSI around the mid-50s.
All of the levels above are U.Today's technical read as of October 5, not live prices.
