Price analysis 11/1: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, MATIC

10 months ago

Bitcoin (BTC) skyrocketed 28.5% successful October, its second-best monthly summation of the twelvemonth down the 40% rally successful January. After the beardown showing successful October, the adjacent question connected investors’ minds is, could the bullish momentum proceed and Bitcoin widen its betterment going forward?

Bernstein said successful a enactment connected Oct. 31 that Bitcoin could rally to $150,000 by 2025. The steadfast believes that the United States Securities and Exchange Commission volition o.k. a spot Bitcoin exchange-traded money by the archetypal 4th of 2024 and the ETFs whitethorn pull up to 10% of Bitcoin’s circulating supply.

While the semipermanent looks bullish, the volatility whitethorn prime up successful the adjacent term. On-chain monitoring assets Material Indicators believes that the bullish momentum is weakening and whitethorn effect successful a retest of $33,000 but earlier that, they expect an effort astatine $36,000.

Will Bitcoin interruption supra oregon beneath the existent range? Could altcoins rally erstwhile Bitcoin consolidates?

Let’s analyse the charts of the apical 10 cryptocurrencies to find out.

Bitcoin terms analysis

The bulls tried to propel Bitcoin supra $35,280 connected Nov. 1 but the bears did not relent. This suggests profit-booking astatine higher levels.

The comparative spot scale (RSI) is inactive successful the overbought zone, indicating that the consolidation whitethorn widen for a fewer much days. The important level to ticker connected the upside is $35,280 and connected the downside is $33,390.

If the terms breaks beneath the support, the BTC/USDT brace could driblet to the 20-day exponential moving mean ($32,012). This level whitethorn witnesser a pugnacious conflict betwixt the bulls and the bears.

On the upside, a interruption and adjacent supra the overhead absorption of $35,280 volition awesome the resumption of the uptrend. The brace whitethorn past ascent to $40,000.

Ether terms analysis

Ether (ETH) has been holding supra the breakout level of $1,746 but the bulls are struggling to commencement the adjacent limb of the uptrend. This suggests that the bears are trying to get backmost successful the game.

The important level to ticker connected the downside is $1,746. If bulls flip this level into support, it volition bespeak that the sentiment has turned positive. That volition heighten the prospects of a interruption supra $1,865. The ETH/USDT brace whitethorn past surge to $2,000. The bears are expected to equine a beardown defence astatine this level.

If bears privation to summation the precocious hand, they volition person to tug the terms backmost beneath the 20-day EMA ($1,723). That whitethorn drawback the assertive bulls connected the incorrect foot, starring to agelong liquidation. The brace whitethorn past slump to the 50-day SMA ($1,648).

BNB terms analysis

The bulls are uncovering it hard to support BNB (BNB) supra $230, indicating that buying dries up astatine higher levels.

The BNB/USDT brace has turned down and reached the breakout level of $223. Buyers are apt to support the portion betwixt $223 and the 20-day EMA ($220). If the terms rebounds disconnected this zone, the bulls volition again effort to footwear the brace toward the overhead absorption of $235.

On the contrary, if the terms continues little and breaks beneath the 20-day EMA, it volition suggest that the bears are backmost successful control. The brace whitethorn past tumble to the 50-day SMA ($214).

XRP terms analysis

XRP (XRP) broke and closed supra the overhead absorption of $0.56 connected Oct. 30. This indicates the commencement of a caller up-move.

The 20-day EMA ($0.54) has turned up and the RSI is successful the overbought zone, indicating that the bulls person a flimsy edge. Buyers volition effort to physique upon the vantage and propulsion the terms to $0.67.

Conversely, the bears volition effort to propulsion the terms backmost beneath the breakout level of $0.56 and the 20-day EMA. If they negociate to bash that, the XRP/USDT brace whitethorn autumn to the 50-day SMA ($0.52).

Solana terms analysis

Solana (SOL) has been successful a beardown recovery. After hesitating for a fewer days adjacent $34, the bulls asserted their supremacy and roseate supra the absorption connected Oct. 30.

The buying continued and the bulls overcame the obstacle astatine the overhead absorption astatine $38.79 connected Nov. 1. If buyers support the terms supra $38.79, the SOL/USDT brace could adjacent effort a rally to $48.

While the inclination remains up, the overbought levels connected the RSI suggest that the rally is overheated successful the adjacent term. That whitethorn marque it hard for the bulls to proceed the up-move. A interruption and adjacent beneath $38.79 whitethorn tempt short-term traders to publication profits. That whitethorn descend the brace to $34.

Cardano terms analysis

Cardano (ADA) turned down from the insignificant absorption astatine $0.30 connected Oct. 31, indicating that the short-term traders are booking profits.

The adjacent enactment connected the downside is the 20-day EMA ($0.28). Buyers are expected to support this level with vigor. If the terms rebounds disconnected the 20-day EMA, it volition suggest that the sentiment has turned affirmative and traders are buying astatine little levels. The ADA/USDT brace whitethorn past erstwhile again scope $0.30.

This presumption volition beryllium invalidated if the terms continues little and plummets beneath the 20-day EMA. Such a determination volition suggest that the brace whitethorn oscillate betwixt $0.24 and $0.30 for a portion longer.

Dogecoin terms analysis

The bulls person been struggling to prolong Dogecoin (DOGE) supra the $0.07 resistance, suggesting that higher levels are attracting sellers.

The bulls bought the dip to the 20-day EMA ($0.06) connected Oct. 31 arsenic seen from the agelong process connected the candlestick but they could not physique upon this strength. Sellers are again trying to yank the terms backmost beneath the 20-day EMA. If they succeed, it volition suggest that bulls are losing their grip. The DOGE/USDT brace whitethorn past slump toward $0.06.

Alternatively, if the terms erstwhile again rebounds disconnected the 20-day EMA with strength, it volition suggest that bulls are buying connected dips. The bulls volition past again effort to wide the overhead hurdle astatine $0.07 and commencement the up-move to $0.08.

Toncoin terms analysis

Toncoin (TON) has formed a scope betwixt $1.89 and $2.31 for the past fewer days. The terms turned down from $2.27 connected Oct. 31 indicating that the bears proceed to merchantability adjacent the resistance.

The TON/USDT brace has slipped to the contiguous enactment astatine the moving averages. If the terms rebounds disconnected this level with force, it volition suggest that the sentiment has turned affirmative and traders are viewing the dips arsenic a buying opportunity. That volition amended the prospects of a rally supra the overhead absorption astatine $2.31. The brace whitethorn past surge to $2.59.

Contrarily, if the terms continues little and breaks beneath the moving averages, it volition suggest that the range-bound enactment whitethorn proceed for a fewer much days.

Chainlink terms analysis

The bulls person been attempting to propel and prolong Chainlink (LINK) supra the overhead absorption astatine $11.50 but the agelong wick connected the candlesticks shows that the bears are progressive astatine higher levels.

The driblet connected Nov. 1, indicates that the bears are trying to propulsion the terms to the 20-day EMA ($9.80), which is an important level to ticker retired for. If the terms rebounds disconnected this level, the bulls volition again effort to propulsion the LINK/USDT brace supra $11.50. If they bash that, the brace whitethorn emergence to $13.50 and past to $15.

On the different hand, sellers volition beryllium backmost successful the driver’s spot if they descend and prolong the terms beneath $9.50. That whitethorn unfastened the doors for a further autumn to the 50-day SMA ($8.06).

Polygon terms analysis

Buyers tried to propel Polygon (MATIC) supra the overhead absorption of $0.66 connected Oct. 31 but the bears held their ground.

This suggests that the MATIC/USDT brace could consolidate successful a choky scope betwixt $0.60 and $0.66 for immoderate time. The rising moving averages and the RSI successful the affirmative territory bespeak vantage to the bulls.

If buyers shove the terms supra $0.66, the brace could commencement the adjacent limb of the alleviation rally toward $0.77. However, the bears are apt to person different plans. They volition effort to descend the terms backmost beneath $0.60 and trap the assertive bulls.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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