Bitcoin And Altcoins Start This Week On A Volatile Note

  • 09 November 2020, Monday, 10:06

There were mostly positive moves in bitcoin price above the USD 15,350 support level. BTC climbed higher steadily and it surpassed the USD 15,500 level, before it corrected lower again. The price is currently (13:28 UTC) trading above USD 15,350. Similarly, most major altcoins trimmed some of their gains today, including ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD broke the USD 450 support. Besides, XRP/USD must surpass USD 0.255 for upside continuation in the near term.

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Bitcoin price

There was a slow and steady rise in bitcoin price above the USD 15,400 and USD 15,500 levels. BTC even climbed above USD 15,600, before correcting lower. The USD 15,350 level remains a strong support. The next key support for the bulls is near the USD 15,200 level. Any further losses could lead the price towards the USD 15,000 level.

Ethereum price

Ethereum price is trading below the USD 450 support level. However, ETH struggled to gain pace above USD 455 and it faced a major resistance near USD 460. On the downside, the USD 448 level is a decent support. The first major support is near the USD 440 level, below which the bears might aim a test of the USD 425 support zone.

Bitcoin cash, chainlink and XRP price

Bitcoin cash price failed to clear the USD 270 resistance and corrected below USD 265. An initial support is near the USD 260 level, but the first major support is near the USD 255 level. On the upside, the USD 265 and USD 270 levels might act as a hurdle for the bulls. Chainlink (LINK) was following a strong bullish path above the USD 12.00 level. On the downside, the USD 12.00 and USD 11.80 levels are important supports for the bulls. XRP price mostly consolidated above the USD 0.250 support level. On the upside, the USD 0.255 level is a key inflection zone. A successful break above USD 0.255 might open the doors for a steady rise towards the USD 0.262 and USD 0.265 levels. If there is a break below the USD 0.250 support, the price might slide towards USD 0.245.

Other altcoins market today

In the past few hours, many altcoins gained over 5%, including HEDG, AAVE, RUNE, RSR, CELO, DX, MANA, OCEAN, REN, AMPL, BAND, KSM, GNT, and LRC.

To sum up, bitcoin price was showing positive signs above USD 15,350 and USD 15,500 before it corrected lower. To continue higher, a successful close above USD 15,600 and USD 15,680 was a must, but now, there is a risk of a drop towards the USD 15,200 support. __

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