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BTC and ETH Price Analysis for November 8

Tue, 11/08/2022 - 15:34
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Denys Serhiichuk
Has midterm bull run ended yet?
BTC and ETH Price Analysis for November 8
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The drop has continued as all top 10 coins remain in the red zone.

Top coins by CoinMarketCap


The rate of Bitcoin (BTC) has declined by almost 5% over the last 24 hours.

BTC/USD chart by TradingView

Bitcoin (BTC) has continued to drop since yesterday and reached the middle of the wide channel. At the moment, one needs to pay attention to the vital $20,000 mark. If buyers cannot return to it and fix above it, there are chances to see the test of the support level at $18,157.

Bitcoin is trading at $19,434 at press time.


Ethereum (ETH) is more of a loser than Bitcoin (BTC), going down by 6.21%.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) is on its way to the support level at $1,407. If the price bounces back, there are chances to see a local rise to the $1,500 area by the mid-November. However, if the bar closes below the mentioned mark, the downward move can continue up to the $1,350 zone.

Ethereum is trading at $1,449 at press time.

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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