November 1 Bitcoin, Ethereum, Ripple and EOS Price Analysis
It’s been 10 years since Bitcoin’s white paper. Bitcoin, which started this adventure alone in 2008, has gained over 2000 companions in the past 10 years.. However, despite hundreds of cryptocurrencies, Bitcoin’s impact in the market is still at 54 percent.
Even though many traditional investors and economists maintain their skepticism towards Bitcoin and cryptocurrencies, the digitalizing generation of Bitcoin and digital
Although it is unlikely that Bitcoin will experience a similar parabolic price acceleration in the coming years, Coin Telegraph analyst Rakesh said that the price of Bitcoin and altcoins on the first day in 10 years. This is how he evaluates its trend.
BTC/USD
Bitcoin rate looks weak and there are no strong indicators signaling bullish action. RSI is in negative territory and 20-day EMA is moving to the downside.. This data shows that the bear movement is still active in Bitcoin.. A drop below $6,200 could pave the way for Bitcoin to test the support in the $5,900-$6,075 band.
The failure of the bulls to break the contracting triangle also a negative signal, if the bears continue to act strong, even $5,450 and $5,000 levels can be seen after $5,900.
However, the leading cryptocurrency has closed the year strong every time in recent years and If a similar trend is captured this year, the bulls’ testing above $6,831.99 may open the way for $7,400.
ETH/USD
Below $200 levels for the last three days The floating Ethereum may enter the path of testing the $188.35 band again in the coming days.
The 20-day EMA is in the downside, while the RSI is in the negative zone. continues to watch, and these data herald the negative trend as in Bitcoin.. Seeing below $188.35 may pull prices up to the next support level, 167.32.
The dominance of bullish action in the ETH/USD pair may push prices up to the resistance level at $249.93.. If this level is seen, the next resistance level is $322.57.
XRP/USD
Ripple, which has been trading in a narrow range since October 16, (XRP) stands out with its balanced view in supply-demand balance. The digital currency, where the RSI line is very close to the midpoint, has a more positive outlook compared to Bitcoin and Ethereum.
XRP/USD next It looks like it will make a jump up or down from this narrow range these days.. According to the analyst, when the price jump is positive in XRP, 0.48 and then 0.55 dollars can be seen and the stop loss to be set at 0.42 may be the right decision for the positive move.
On the other hand, a negative change may pull XRP to the range of $0.37185–$0.38838.
EOS/USD
Bulls EOS is now up from the $5 band Although they try to carry the price, the lack of buy orders required at high levels makes these moves futile each time.
If EUS/USD falls below $5 next support levels will be $4.49 and $3.8723 respectively. Therefore, traders can keep the stop loss at $4.9 if they are in long positions.
On the other hand, after the bulls take the helm, the rally will carry EOS up to $6.1 and pave the way for 6.82992.
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