BTC, ETH, and XRP Price Analysis for November 8
The new week has begun with a bullish mood on the cryptocurrency market; however, some coins remain in the red zone. Bitcoin (BTC) is the biggest gainer, rising by 5.84% over the past 24 hours.
Last Saturday, after a short-term consolidation, the Bitcoin (BTC) price tested the psychological support of $60,000, and by the end of last week, it had recovered to the $63,000 area.
This week began with explosive growth. Over the past night, the pair broke through the resistance of 100% fibo ($64,895). If the bulls can continue the run, then a daily high is possible in the area of $68,100.
Bitcoin is trading at $65,500 at press time.
On Saturday, the price of Ethereum (ETH) fell back to the support of the four-hour EMA55, and on Sunday, the pair fully recovered to the zone of the absolute maximum. The bulls continued their race tonight and reached the high of $4,740.
Overnight growth is not supported by large volumes. But in the first half of the day, it can still continue to the area of $4,810.
After updating the maximum, a rollback to the area of average prices is possible.
Ethereum is trading at $4,716 at press time.
Last weekend, the XRP price tested the $1.10 support and recovered to the area of the monthly high.
The beginning of this week was marked by the renewal of the November maximum in the area of $1.296. It is likely that, today, the pair will be able to break through the target level of $1.30.
XRP is trading at $1.24 at press time.Source