March 28, 2024

Bitcoin Price Analysis, Ethereum, Ripple on 10.11.2020

Bitcoin Price Analysis, Ethereum, Ripple on 10.11.2020

The bears have pinned the Bitcoin price to the hourly moving average and are not allowing the bulls to continue their run. Will they be able tobuyers to form a bullish momentum and update the annual high?

BTC / USDBitcoin Price Analysis, Ethereum, Ripple on 10.11.2020

Yesterday, in the morning, buyersonce again we tried to break through the upper border of the blue corridor and test the 78.6% fib level (16125.65 USD). After breaking through the upper trend line, growth stopped at 15800.00 USD. 

In the afternoon, the bears resumed pressure and returned the Bitcoin price within the ascending blue channel. In the evening, the price dropped below 15,000.00 USD. 

By the end of the day, buyers restored the pair tothe upper border of the corridor, and at night trading volumes decreased and until the morning the pair consolidated in a narrowing range, using the hourly EMA55 as support. 

Today, attempts to retest the 78.6% Fibonacci level may be repeated. If the bulls form a powerful impulse, they will break through this level and update the annual maximum around 16200.00 USD. 

On the other hand, the bears are ready to start majorsales as soon as they realize that the bulls are exhausted and cannot continue the race above 16000.00 USD, but judging by yesterday’s trading, buyers are effectively using the support in the area of ​​the moving average EMA55 and are still going to compete beyond the 78.6% fib (16125.65 USD). 

ETH / USDBitcoin Price Analysis, Ethereum, Ripple on 10.11.2020

The price of ether yesterday was unable to continue the fight forre-test of the blue trend line, which runs around the 470.00 USD mark. The pair spent the entire day in a narrowing range at the level of average prices. 

Today, buyers can continue trying to break through the blue trend line and test the resistance at 380.00 USD. 

If the bears push through the hourly EMA55, the price may roll back to the support at 420.00 USD. 

XRP / USDBitcoin Price Analysis, Ethereum, Ripple on 10.11.2020

Yesterday, the Ripple price was unable to gain a foothold above the green trend line. After an unsuccessful breakout attempt, the pair rolled back to the support of the POC line (0.245 USD), which limited the pressure of sellers. 

If buyers restore the pair higher todaygreen trend line, they will once again try to break through the resistance of 0.260 USD. If the trading volumes are small, the pair will remain within a wide sideways range.

* All price values ​​are based on data from the BitStamp exchange

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