Bitcoin and Altcoins Could End November In Bullish Zone
In the past three sessions, there were mostly range moves in bitcoin price above the USD 7,350 and USD 7,400 support levels. BTC/USD seems to be forming a support base and it could continue to rise above the USD 7,550 and USD 7,650 resistance levels.
Similarly, there are positive signs emerging for major altcoins, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM. ETH/USD is holding the USD 150 support area and it could rise above the USD 155 resistance level. XRP/USD is currently (09:00 UTC) showing positive signs and it could soon attempt to clear the USD 0.230 resistance area.
Total market capitalization
After settling above the USD 7,350 level, bitcoin price mostly consolidated gains. On the upside, BTC/USD is facing a strong resistance near the USD 7,550 and USD 7,650 levels. A successful close above the USD 7,650 level could start another increase may be towards USD 7,850 or USD 8,050.
On the downside, the USD 7,400 and USD 7,350 levels are important supports. If the price fails to surpass the USD 7,650 resistance, there is a risk of a fresh bearish wave below the USD 7,350 support.
Ethereum price is currently trading above the USD 150 and USD 152 support levels. On the upside, ETH/USD has to gain pace above the USD 155 resistance level to visit the USD 158 and USD 160 levels.
On the downside, an initial support is near the USD 150 level. If the bulls fail to defend the USD 150 support, there is a risk of a drop towards the USD 142 support.
Bitcoin cash, litecoin and XRP price
Bitcoin cash price is holding the USD 215 and USD 220 levels. However, BCH/USD seems to be struggling near the USD 225 and USD 226 levels. A convincing close above the USD 226 level might perhaps start a nice upward move towards the USD 240 level. On the downside, the main uptrend supports are USD 205 and USD 200.
Litecoin is attempting an upside break above the USD 47.50 resistance. The next key resistance for LTC/USD is near the USD 48.80 and USD 50.00 levels. On the downside, a break below the USD 44.50 support could push the price towards USD 40.00 or USD 38.50.
XRP price is consolidating above the USD 0.220 and USD 0.221 support levels. XRP/USD is now trading near the USD 0.225 level, with an immediate resistance near the USD 0.228 level. It seems like the price is likely to rise steadily above USD 0.228 and USD 0.230 in the near term.
Other altcoins market today
In the past three sessions, many small capitalization altcoins climbed more than 5%, including MIN, LUNA, ALGO, ETN, BTM, ILC, XTZ, DASH, HC, ENJ and ADA. Out of these, MIN rallied around 25% and LUNA is up more than 15%.
Overall, bitcoin is trading above the USD 7,400 support area. Having said that, BTC/USD needs to gain momentum above the USD 7,550 and USD 7,650 resistance levels to visit the USD 8,000 handle in the near term.