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BTC, ETH and XRP Price Analysis for November 3

Should we expect a more profound drop of Bitcoin (BTC) and the top 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 market has turned slightly green as some coins have come back to the bullish zone. Bitcoin (BTC) and XRP are the only gainers from the list, rising by 0.51% and 0.18%, respectively.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The crucial information on Bitcoin (BTC), Ethereum (ETH) and XRP for today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$250,132,509,853 $13,496.86 $29,956,102,018 0.51%

Ethereum

ETH

$42,951,196,757 $379.18 $13,274,451,754 -1.68%

XRP

XRP

$10,742,597,870 $0.237224 $2,854,310,225 0.18%

BTC/USD

Yesterday morning, the bears increased their pressure and pushed through the support at $13,600. The price of Bitcoin (BTC) dropped out of the upward channel and pierced the 61.6% fibo level ($13,346). The daily low is set at $13,220.

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

Before the end of the day, buyers tried to restore the price to the ascending channel, but by this morning the pair cannot consolidate above the lower border of the channel.

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Buyers' opposition shifted to the 61.8% Fibonacci level. If the bears cope with the support at the four-hour EMA55, the pair will roll back to the area of the $12,800 mark.

Bitcoin is trading at $13,550 at press time.

ETH/USD

Yesterday, buyers were unable to increase the volume and continue to grow above the psychological mark of $400. The bears reversed the price of Ethereum (ETH) to a decline and rolled the pair back to the support of $380.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

This morning the price has broken through this level and is dropping to the level of $360. One might assume that today buyers will try to stop the decline at the level of $360 and keep the pair in a sideways consolidation.

Ethereum is trading at $383.25 at press time.

XRP/USD

Yesterday, sellers kept the XRP price below the POC line ($0.242) and, by this morning, the pair had already managed to pierce the lower border of the wide side corridor of $0.230, in which it had been located for almost two months.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

If the bears' onslaught intensifies, the decline will continue to the area of the two-month low of $0.220 and, in the first half of this week, it may test the support of $0.213.

XRP is trading at $0.2404 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