ETH, and XRP Price Analysis for November 6

ETH, and XRP Price Analysis for November 6

Bulls might have fixed their long positions as most of the coins are in the red zone. Solana (SOL) is the only crypto from the top 10 list located under a bullish mood.

ETH/USD

Ethereum (ETH) keeps going down since yesterday, falling by 3% over the last 24 hours.

On the daily chart, Ethereum (ETH) is looking bearish with no bullish signals. The leading altcoin has touched the support at $4,375 and is currently trading near it. Even though the selling trading volume is low, there is a high chance to see a breakout, followed by a decline to the next level at $4,170. Such a scenario can occur if the daily candle fixes below $4,375.

Ethereum is trading at $4,390 at press time.

XRP/USD

XRP has shown the same decline as Ethereum (ETH). It has dropped by 2.72%.

From the technical point of view, XRP is less bearish than Ethereum (ETH). The altcoin has retested the liquidity zone at $1.078, which means that bulls may have gained energy for further growth.

In such a scenario, one may expect a rise to the area around $1.20 next week. The low selling trading volume confirms the weakness of bears to keep the decline alive.

XRP is trading at $1.13169 at press time.

Source

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