Main navigation

BTC and ETH Price Analysis for November 7

Mon, 11/07/2022 - 13:48
article image
Denys Serhiichuk
Can rise of Bitcoin (BTC) and Ethereum (ETH) continue after today's drop?
BTC and ETH Price Analysis for November 7
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Most of the cryptocurrencies have started the new week with a continued fall, according to their CoinMarketCap ranking.

Top coins by CoinMarketCap


The rate of Bitcoin (BTC) has declined by 2.49% over the last 24 hours.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has returned to the bearish zone as the price is below the important zone of $21,000. If buyers cannot seize the initiative soon, the fall may continue to the $20,400 mark. In addition, the volume is low, which means that not a lot of buyers are willing to buy at the current levels.

Bitcoin is trading at $20,710 at press time.


Ethereum (ETH) is even more of a loser than Bitcoin (BTC), falling by 2.77%.

ETH/USD chart by TradingView

Ethereum (ETH) has lost the $1,600 mark, making bears more powerful than bulls. At the moment, attention should be focused on $1,500, as its possible breakout might lead to a sharp downward move to the $1,400-$1,450 zone by the end of the month.

Ethereum is trading at $1,578 at press time.

article image
About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at