Bitcoin, Ethereum Price Prediction- BTC Correction Puts Altcoins On A Downhill
Bitcoin, Ethereum price prediction: BTC and ETH prices are witnessing a minor correction to stabilize their prior gains. However, this pullback has caused a significant downfall in several cryptocurrencies, offering a dip opportunity.
The global crypto market stood at $1.03 Trillion at 10:24 am EST Monday, down 2.73% from yesterday. Moreover, the total crypto market volume has increased by 43.62% to $87.76 Billion. The current volume in DeFi is $4.91B, accounting for 5.60% of total 24-hour volumes in the crypto market.
Top Gainers and Losers
Today, Polygon and Synthetix are top gainers among the top 100 cryptocurrencies. In the last 24 hours, MATIC prices moved up 6.37% to reach $1.25, while SNX prices increased 3.77% to $2.73. Meanwhile, the top losers are Solana and Aptos, with SOL price falling 11.74% to hit the $31.61 mark and APT down 11.72% to reach $7.07.
Bitcoin Price
On November 4th, the Bitcoin price surpassed the prior swing high resistance of $20830. However, the buyers could not sustain above the breached resistance despite a two-days retest phase.
With a 1.24% intraday loss, the coin price nosedived below the $20830 level and currently trades at $20653. If the daily- candle closes below the aforementioned flipped support, the fake breakout scenario will force liquidate breakout buyers.
With sustained selling, Bitcoin holders could witness a 3% price correction to the retest the combined support of 50-day EMA and $20000 psychological support.
Ethereum price
The Ethereum price shows the formation of a double top pattern in the daily time frame chart. On November 5th, the altcoin witnessed its second reversal from $1650 resistance, which plunged the prices 5% down to $1580.
However, with sustained selling, the ETH price should tumble 4% to hit the $1500 neckline support.
A daily candle closing below $1500 would trigger the bearish pattern and continue a downward spiral to $1400.
Recent Posts
- Price Analysis
Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
Ethereum has overtaken Bitcoin in institutional treasuries, signaling a notable change in digital asset accumulation…
- Price Analysis
Expert Predicts XRP Price to Hit $10 as Elliot Wave, XRPR ETF Inflows Align
XRP price has moved sideways in the past few days as the recent bull run…
- Price Analysis
HYPE Price Prediction as 21Shares Files S-1 for Hyperliquid ETF—Can Bulls Push HYPE to $60?
Hype price has drawn significant attention following a strong rebound from October lows and renewed…
- Price Analysis
Bitcoin Price Rally Bound? How the Fed’s Move May Unleash Crypto
Bitcoin price has remained steady above $113,000 as the crypto market shows signs of a…
- Price Analysis
Can ASTER Price Rebound 50% as Whale Activity and Bullish Pattern Align?
The ASTER price has shown early signs of stabilization after recent volatility, as fresh whale…
- Price Analysis
Pi Network Patterns Point to More Gains Despite Manipulation Claims
Pi Network price is taking part in the ongoing crypto market rally. It jumped to…