Bitcoin, Ethereum and Ripple Price Prediction, Technical Analysis – November 1st

All the major trading pairs (Stocks/Commodities/Forex/Crypto’s etc.,) across the Global markets are slowly showing some green shoots after late October drop/correction. A slight increase of trading volumes in Crypto markets is seen from yesterday.

BTC/USD

At the time of writing this article, Bitcoin is trading around $6300, after bouncing from the support of $6200 level overnight. Until the price stays below $6400, Next trading range will be $6150-$6400 area. Next very Critical Support level to watch is $5850 & $6000 where more buying can be expected. If there is a sudden price breakout above $6400 and stays above it, Next trading range will be $6400-$6650 area. Next Critical Resistance to watch is $6850 where more selling can be expected.

Daily volumes are seen having a slight increase, now around $4.2B after seeing a low of $3.6B yesterday.

Data as per TradingView

Bitcoin Technical Analysis

Based on the Bitcoin BTC/USD daily chart, the price is still below the critical level of 55Day EMA, MACD is just below the Signal Line and RSI is showing slight strength at 40 Levels. This indicates a Neutral to slightly Negative bias; As Price is far below from 200Day EMA indicating bearish trend intact.

Bitcoin Prediction (Short to Medium term)

As long as Bitcoin Price holds $6200 level and breaks above $6500, we can expect a quick rally towards $6800 to $7000 Area or else consolidation in the trading range $6150-$6400 Area.

ETH/USD

At the time of writing this article, Ethereum ETC/USD is trading at $195, until the price stays below $210, Next trading range will be $185-$210 Area. Next very Critical Support level to watch is $175 where more buying can be expected. If there is a sudden price breakout above $210 and stays above it we can expect a Rally towards $225 to $240. Next Critical Resistance to watch is $225 which is also 55Day EMA for the pair where more selling can be expected.

Daily volumes are seen having a slight increase, now around $1.5B after seeing a low of $1.35B yesterday.

Data as per TradingView

Ethereum Technical Analysis

Based on Ethereum ETC/USD daily chart, the price is still below the critical level of 55Day EMA, MACD is straightening below the Signal Line and RSI is showing slight strength at 40 Level. This indicates a Neutral to slightly Negative bias; As Price is far below from 200Day EMA indicating bearish trend intact.

Ethereum Prediction (Short to Medium term)

As long as Ethereum Price holds $175 and breaks above $210, we can expect a quick rally towards $225-$240 Area or else consolidations in the trading range $185-$210 Area.

XRP/USD

At the time of writing this article, Ripple XRP came out from the trading range $0.4350-$0.45 area and is now trading at $0.4530. As stated in my earlier article, there was a sudden price breakout above $0.45 and entered Next trading range of $0.45-$0.4750 area. Next Critical Resistance level to watch is $0.49 where more selling can be expected.

Data as per TradingView

Ripple Technical Analysis

Based on the Ripple XRP/USD daily chart, the price has just bounced from an important level of 50Day EMA, MACD is straightening just above the Signal Line and RSI is steady at 47 Level. This indicates a slightly positive bias, even though the price is below 200Day EMA. Daily volumes are also on raise, now around $400m after seeing a low of $240m yesterday.

On the other hand, based on FIBONACCI Levels, Ripple-XRP price after a steep rally in Sep-2018 making a high of $0.75, retraced towards a very important level of 50% to 61.8% and consolidating over there. As long as price holds that level we can expect an uptrend towards $0.9 to $1.2 levels in the coming weeks after a high volume breakout above $0.58 is seen.

Data as per TradingView

Ripple Prediction (Short to Medium term)

As long as Ripple Price holds $0.45 and breaks above $0.46, we can expect a quick rally towards $0.49 to $0.52 Area.

Credits:- Srinivas Podila

This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.