Bitcoin, BNB, XRP and Ethereum Faced Key Support Tests After an October Sell-Off
A market snapshot dated October 31 showed Bitcoin, BNB, XRP and Ethereum under selling pressure, with traders watching nearby support and resistance. The snapshot gives no year, exact observation times or price data provider, so its figures are historical reference points, not live prices.
- Bitcoin was testing a reported 200-day moving average near $76, 400-$76, 600.
- BNB, XRP and ETH were also below key resistance zones.
- Reuters reported a Binance security breach alongside the sell-off, but its effect on falling prices is unclear.
- The claim that October brought the market’s “biggest volatility increase” lacks supporting data.
The technical snapshot put BTC near $76, 650, BNB at $696.43, XRP at $1.2352 and ETH at $2, 222.59 on or around October 30. It does not identify its author, price feeds or indicator calculations. Treat the chart levels below as that analysis’s interpretation, not independently verified market data.
A Reuters report carried by MarketScreener gave different October 30 prices for BTC and ETH: $76, 469.82 and $2, 185.83, respectively. The reports do not give matching timestamps or explain why the figures differ. The available Reuters excerpt does not include comparable BNB or XRP prices.
Bitcoin: a test near the 200-day average
The technical snapshot said BTC had been rejected from the $81, 000-$82, 000 area and was testing its 200-day moving average, which it placed near $76, 400-$76, 600. It identified nearby support around $76, 000-$76, 500.
A moving average tracks prices over a set period and can help traders assess a trend. It is not a firm price barrier. Readings can vary by data provider and calculation method, and prices can move through the level.
According to the snapshot, a drop below $76, 000 could bring $74, 000 and then $72, 000 into view. A deeper decline could make $70, 000 a possibility. It identified $78, 000 as a level BTC would need to reclaim to ease immediate pressure, with resistance around $80, 000-$82, 000.
The snapshot described daily RSI as being in the mid-30s and selling volume as high during the decline. RSI, or Relative Strength Index, measures recent price momentum. A low reading can reflect strong selling, but it does not mean a bottom is near. The same caution applies to support levels and volume signals.
BNB: the snapshot watched $690 and $680
BNB was listed at about $696.43 after failing to hold above the $750 resistance zone. The analysis said the token had climbed from July lows near $545 to an October peak around $810 before turning lower.
It placed BNB below short-term moving averages and a 100-day average near $707. It also cited longer-term averages near $690, without specifying which averages. In its view, a daily close below $690 could put $680 in focus. It identified $650 as a previous floor where buyers might return.
On the upside, the snapshot said BNB would need to reclaim $710 to improve its near-term outlook. A move through $735-$750 could put $770 in view. It also described RSI as near the bottom of its neutral range and trading activity as higher during the decline. Those observations describe pressure in the snapshot, not what happened next.
XRP: support near $1.20-$1.22
The snapshot put XRP at about $1.2352 on October 30, below $1.30. It said the token had struggled to sustain momentum above $1.40 after rallying toward $1.60 in September.
The analysis put the nearest support zone at $1.20-$1.22. A move below $1.20 could expose $1.15 and then $1.10. If selling continued, $1.00 was cited as a possible longer-term level. These are conditional chart scenarios, not price forecasts with known probabilities.
The snapshot placed initial resistance around $1.28-$1.30 and stronger resistance near $1.33-$1.37. A recovery above $1.30 could put the $1.35-$1.40 area back in view. It described RSI as being in the low 30s and volume as higher during the decline.
Ethereum: $2, 300 was the first recovery hurdle
ETH was listed near $2, 222.59 after failing to clear resistance around $2, 350-$2, 400. The analysis said it had fallen from an October peak near $2, 800 and was trading below major moving averages, which it placed around $2, 300-$2, 360.
The snapshot identified support around $2, 170-$2, 200. A clear move below that zone could put $2, 100 and then $2, 000 in view. It said ETH would need to reclaim $2, 300 to ease near-term pressure, with resistance near $2, 350 and a sustained move above $2, 450 as a stronger recovery signal.
The analysis described ETH’s RSI as near the lower edge of its neutral range and trading volume as heavy during the decline. As with BTC, BNB and XRP, those indicators describe the conditions in the snapshot. They cannot confirm a reversal.
What was reported about the Binance security breach?
A Reuters report dated October 30 said Binance estimated the breach’s impact at $6.3 billion and reported that about $3 billion had been located and frozen. Reuters also quoted Chainalysis as saying it had confirmed at least $5.912 billion stolen as of 8:30 p.m. ET (0030 GMT), while its investigation was ongoing.
These are separate reported figures. The account does not reconcile Binance’s estimated impact, the amount reportedly frozen and Chainalysis’s stolen-funds estimate, or provide a final loss figure. The figures should not be added together or treated as interchangeable.
Reuters linked the breach with falling crypto prices, but the available information does not quantify its contribution to the sell-off or establish the breach’s technical cause. A security incident at a centralized exchange raises questions about that exchange’s custody and operations. On its own, it does not show that Bitcoin’s or Ethereum’s underlying protocol has failed.
Key questions and answers
-
What was Bitcoin’s key near-term test?
The technical snapshot highlighted the 200-day moving average near $76, 400-$76, 600 and nearby support around $76, 000-$76, 500. The levels are approximate and cannot be independently checked without the underlying price feed and calculation method.
-
Where did the snapshot place support for BNB, XRP and ETH?
It highlighted $690 and $680 for BNB, $1.20-$1.22 for XRP, and $2, 170-$2, 200 for ETH. These are potential chart zones, not guaranteed floors. BNB, XRP and ETH also feature in broader crypto market discussions.
-
Did the Binance breach cause the sell-off?
Reuters reported that the breach coincided with falling crypto prices, but the available reporting does not measure its contribution or establish it as the sole cause.
-
Was October’s volatility increase the market’s biggest?
The available information does not establish that claim. It gives no volatility measure, comparison period or benchmark.
-
Can the technical levels be verified?
Not from the snapshot alone. It does not identify its analyst, exchange or price feed, exact timestamps or indicator methods.
