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BTC, ADA, BNB, XTZ and EOS Price Analysis for November 1

Can Bitcoin (BTC) keep rising faster than the altcoins?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The last day of the week is under a bearish mood as all of the Top 10 coins are in the red zone. Binance Coin (BNB) is the main loser on the list, declining by 1.66 percent over the last day.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The main data for Bitcoin (BTC), Cardano (ADA), Binance Coin (BNB), Tezos (XTZ) and EOS this weekend:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$254,259,022,933 $13,720.62 $26,459,709,702 -1.16%

Cardano

ADA

$2,910,333,639 $0.093542 $577,300,961 -0.80%

Binance Coin

BNB

$4,079,988,154 $28.25 $329,982,804 -1.66%

Tezos

XTZ

$1,465,075,559 $1.96 $119,173,145 0.01%

EOS

EOS

$2,347,078,665 $2.50 $1,721,959,289 -1.42%

BTC/USD

Bitcoin (BTC) has not shown a significant price rise on the last day of the week. However, the price of the main crypto has risen by 5.53% over the past 7 days.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the 4H chart, Bitcoin (BTC) has made a false breakout of the $14,000 mark. Even though there are no correction signals, the trading volume is going down, which means that a short-term decline may start soon.

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If that happens, traders may expect the main crypto at the 61.8% Fibonacci level$13,500soon.

Bitcoin is trading at $13,718 at press time.

ADA/USD

Although the rate of Cardano (ADA) is almost unchanged since yesterday, the price change over the last week has accounted for -12.95%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

On the daily time frame, Cardano (ADA) is about to reach the support level of $0.088. However, bears are about to break this level, as there is no buyer pressure based on the trading volume and liquidity. In this case, the rate of the altcoin might retest the next support area of $0.075-$0.08 shortly.

ADA is trading at $0.095 at press time.

BNB/USD

Binance Coin (BNB) is the main loser from our list. The price of the native exchange token of the trading platform has dropped by almost 2% since yesterday.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Binance Coin (BNB) could not fix above the $32 mark for the second time after a false breakout in Sept. 2020. This means that bulls need to gain more liquidity for a further price rise. That is why an ongoing decline is the more likely scenario at the moment. All in all, the decrease may continue to $23 where most of the liquidity is focused.

Binance Coin is trading at $28.16 at press time.

XTZ/USD

Tezos (XTZ) is the only growing coin from the listeven though the price of the altcoin has grown only 0.01%.

XTZ/USD chart by TradingView
XTZ/USD chart by TradingView

On the daily chart, Tezos (XTZ) has made a false breakout of the $1.91 support mark. From the technical point of view, a rise is more likely than a decline as the selling volume is going down. Thus, most of the liquidity is located in the area of $2.50-$3.00 which means that XTZ may achieve that zone by the end of the month.

Tezos is trading at $1.95 at press time.

EOS/USD

EOS is the second biggest loser today. Its rate has fallen by 1.42% over the previous 24 hours.

EOS/USD chart by TradingView
EOS/USD chart by TradingView

EOS is trading similarly to Tezos (XTZ) as on the daily chart; the altcoin has made a false breakout of the $2.49 zone. If bulls seize the initiative, there is a high probability to see the altcoin at the support of $2.75 where most of the liquidity is located. The declining selling trading volume also supports an ongoing short-term rise.

EOS is trading at $2.4970 at press time.

 

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com