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Bitcoin’s new all-time high at $69,000 and Ether’s sluggish climb toward $5,000 are clear signals that bulls are in charge and a hint that altcoins intend to follow.

  • Bitcoin (BTC) and Ether (ETH) have once more risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls. In a latest record from Kraken exchange, analysts stated that the cutting-edge quarter’s charge motion has a correlation of 0.88 with the fourth quarter of 2017. Bitcoin had rallied 220% in 4Q 2017 and if history repeats itself, Bitcoin may want to reach $96,355, which should probably be this cycle’s top. Long-term holders, who have held their Bitcoin for more than 12 months, are reluctant to spend their coins, according to Glassnode’s “The Week On-Chain” report. Another nice thing is that traders continue to withdraw coins from centralized exchanges whose share of furniture has dropped to a new document low at 12.9%. Can Bitcoin and altcoins maintain their bullish momentum or will profit-booking drag prices lower? Let’s find out about the charts of the top-10 cryptocurrencies to locate out.


    The bears tried to pull Bitcoin below the breakout level at $67,000 on Nov. 9 however they could no longer preserve the lower levels. The modest pullback indicates that bulls are buying on every minor dip. Both shifting averages are sloping up and the relative power index (RSI) is close to the overbought territory, indicating that bulls are in control. If buyers preserve the charge above $67,000, the BTC/USDT pair ought to pick up momentum and accelerate to the subsequent goal at $75,000. A destroy and shut above this resistance might also open the doorways for a feasible rally to $89,476.12.

btc usdt graph

On the downside, the zone between $67,000 and $63,750 is possible to act as a robust support. If this zone is breached, it will indicate that merchants can also be aggressively booking profits. The pair can also then drop to the 50-day easy moving common ($56,348).


    Ether has been trading internally as an ascending channel for many days. The bulls are attempting to preserve the fee above the centerline of the channel. The important goal to watch on the upside is the psychological stage at $5,000. This stage is possible to act as a stiff resistance but if bulls do no longer provide up a good deal ground, the ETH/USDT pair may also overcome the barrier and rally to the next target objective at $5,283.17.

eth graph

If the rate turns down from the resistance line of the channel, the pair ought to drop to the assist line. This is a vital stage to maintain an eye on because a wreck beneath it will endorse a possible trade in the short-term trend. The pair ought to first drop to $4,146.30 however if this assistance additionally offers a way, the correction should attain the psychological assist at $4,000.


    Binance Coin (BNB) slipped below the $630 assist today however the bears could not maintain the lower levels. The altcoin staged a sturdy healing and the bulls are now attempting to push the fee above $669.30

bnb graph

If they manage to do that, the BNB/USDT pair will assign the overhead resistance at $691.80. The rising shifting averages and the RSI in the overbought region point out the direction of least resistance is to the upside. On the other hand, if the fee turns down from the overhead resistance, it will advise that merchants are defending the stage aggressively. The bears will then make one extra try to pull the price down to the 20-day exponential moving average ($566).


    Cardano (ADA) broke and closed above the downtrend line on Nov. 9, indicating that the selling stress is reducing. The bears are presently attempting to pull the fee lower back beneath the breakout level.

ada graph

If they succeed, it will recommend that the smash above the downtrend line may additionally have been an undergo trap. The ADA/USDT pair could then drop below the transferring averages and retest the imperative support at $1.87. On the contrary, if the rate rebounds off the breakout level, it will endorse that bulls are shopping for on dips. The pair should then rally to the overhead resistance at $2.47. This is an important resistance for the bears to shield due to the fact that if it cracks, the pair ought to rise to $2.80.


    The long tail on Solana’s (SOL) Nov. 8 candlestick shows shopping for at the centerline of the ascending channel. However, the bulls may want to no longer construct on this gain as sturdy selling at greater tiers pulled the charge under the centerline on Nov. 9.

sol graph

The SOL/USDT pair ought to now drop to the aid line of the channel. A robust rebound off this aid will point out that the up-move stays intact. Both transferring averages are sloping up and the RSI is in the superb territory, signaling that bulls have the top hand. A ruin and shut above the channel will point out power and the pair may rally to $300 and then to $321. Conversely, if bears sink the charge beneath the channel and the $216 support, the decline may want to prolong to the 50-day SMA ($179).


    XRP broke and closed above the overhead resistance at $1.24 on Nov. 8, signaling that bulls are attempting a comeback. The bears tried to pull the rate again under $1.24 however failed to sustain the decrease levels.

xrp graph

This suggests that bulls have flipped the $1.24 stage into support. This degree ought to know act as a launchpad for the next leg of the up-move. The XRP/USDT pair may want to rally to the overhead resistance at $1.41 where the bears are predicted to mount a stiff resistance.
If the price turns down from $1.41 but rebounds off the $1.24, it will advocate that traders continue to buy on dips. That will enlarge the likelihood of a breakout of $1.41. This high-quality view will be negated if the bears sink and preserve the charge beneath the 20-day EMA ($1.17).


    Polkadot (DOT) grew to become down from $53.87 on Nov. 8, indicating that bears are selling at greater levels. The charge has dipped again to $49.78, which is possible to act as a sturdy support.


The repeated retest of an assist stage within a short interval tends to weaken it. If the charge breaks below $49.78, the DOT/USDT pair may want to drop to the 20-day EMA (48.09). This is a necessary assist for the bulls to defend. A robust rebound off the 20-day EMA will advise that sentiment remains wonderful and merchants are buying on dips. The bulls will have to push the price above $55.09 to signal the resumption of the uptrend. The subsequent goal objective on the upside is $63.08. Contrary to this assumption, if the rate plummets below the 20-day EMA, traders may additionally rush to the exit. That may want to pull the charge down to the 50-day SMA ($39.87).


    Dogecoin (DOGE)
    grew to become down from $0.29 on Nov. 8, indicating selling on rallies. The fee has dipped again to the 20-day EMA ($0.26), which is a vital aid to maintain an eye on.


If the rate rebounds off the current level, the bulls will once more try to propel the DOGE/USDT pair above $0.30. If they can pull it off, the pair ought to project the overhead resistance at $0.34. A destroy and shut above this level will sign that bulls have the higher hand. Alternatively, if the price breaks beneath the 20-day EMA, the subsequent cease may want to be the 50-day SMA ($0.24). If this assist is breached, the selling could intensify and the pair might also drop to the robust assist at $0.19.


    SHIBA INU (SHIB) rose above the downtrend line on Nov. 9 however the bulls ought to now not sustain the higher levels. This suggests that every upward jab is being offered by using the bears.


The SHIB/USDT pair fashioned a Doji candlestick sample on Nov. 9 which resolved the draw back today. If bears maintain the charge beneath the 20-day EMA ($0.000053), the pair ought to drop to the 78.6% Fibonacci retracement level at $0.000040 and then to the 50-day SMA ($0.000033). Contrary to this assumption, if the pair rebounds off the modern stage and rises above the downtrend line, it could reach $0.000065. The flattish 20-day EMA and the RSI near the midpoint advocate a range-bound motion in the close to term.


    Terra’s LUNA token has been buying and selling internally a rising wedge pattern. The bulls attempted to push the price to the resistance line of the wedge on Nov. 8 however could no longer preserve the greater levels.


Profit-booking near the resistance line pulled the rate returned towards the vital degree at $49.54 on Nov. 9. The robust rebound off this degree these days suggests that bulls are defending this level with vigor. The shoppers will now strive to push the fee to the resistance line of the wedge. If bulls thrust the charge above the wedge, the bullish momentum ought to pick up and the LUNA/USDT pair may also reach $62.59. This nice view will invalidate if the fee turns down from the cutting-edge stage or the overhead resistance and plummets below the guide line of the wedge.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.


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