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BTC, ETH and XRP Price Analysis for November 8

Price Predictions
Mon, 11/08/2021 - 15:51
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Denys Serhiichuk
How long can Bitcoin (BTC) rise faster than altcoins?
BTC, ETH and XRP Price Analysis for November 8
Cover image via www.tradingview.com

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.

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The new week has begun with a bullish mood on the cryptocurrency market; however, some coins remain in the red zone. Bitcoin (BTC) is the biggest gainer, rising by 5.84% over the past 24 hours.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Last Saturday, after a short-term consolidation, the Bitcoin (BTC) price tested the psychological support of $60,000, and by the end of last week, it had recovered to the $63,000 area.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

This week began with explosive growth. Over the past night, the pair broke through the resistance of 100% fibo ($64,895). If the bulls can continue the run, then a daily high is possible in the area of $68,100.

Bitcoin is trading at $65,500 at press time.

ETH/USD

On Saturday, the price of Ethereum (ETH) fell back to the support of the four-hour EMA55, and on Sunday, the pair fully recovered to the zone of the absolute maximum. The bulls continued their race tonight and reached the high of $4,740.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Overnight growth is not supported by large volumes. But in the first half of the day, it can still continue to the area of $4,810.

Related
BTC, ADA and BNB Price Analysis for November 6

After updating the maximum, a rollback to the area of average prices is possible.

Ethereum is trading at $4,716 at press time.

XRP/USD

Last weekend, the XRP price tested the $1.10 support and recovered to the area of the monthly high.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

The beginning of this week was marked by the renewal of the November maximum in the area of $1.296. It is likely that, today, the pair will be able to break through the target level of $1.30.

XRP is trading at $1.24 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 denys.serhiichuk@u.today.