Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 5th, 2020

Ethereum

Ethereum rallied by 3.82% on Wednesday. Following on from a 1.30% gain on Tuesday, Ethereum ended the day at $403.18.

It was a bearish start to the day. Ethereum fell from an early morning high $388.69 to a late morning intraday low $376.64.

Steering clear of the first major support level at $375.83, Ethereum rallied to a late afternoon intraday high $409.00.

Ethereum broke through the first major resistance level at $395.58 and the second major resistance level at $402.84.

Coming up against resistance at $410, Ethereum slipped back to sub-$400 levels before wrapping up the day at $403 levels.

The second major resistance level pinned Ethereum back late in the day.

At the time of writing, Ethereum was up by 0.60% to $405.59. A bullish start to the day saw Ethereum rise from an early morning low $403.19 to a high $405.78.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 05/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $396.27 to support a run at the first major resistance level at $415.91.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $409.00.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a further breakout, Ethereum could test resistance at $420 before any pullback. The second major resistance level sits at $428.63.

Failure to avoid a fall through the $396.27 pivot would bring the first major support level at $383.55 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$380 levels. The second major support level sits at $363.91.

Looking at the Technical Indicators

First Major Support Level: $383.55

Pivot Level: $396.27

First Major Resistance Level: $415.91

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 1.31% on Wednesday. Following on from a 0.26% gain from Tuesday, Litecoin ended the day at $54.75.

A bullish start to the day saw Litecoin strike an early morning high $54.53 before hitting reverse.

Falling short of the first major resistance level at $55.20, Litecoin fell to an early afternoon intraday low $51.65.

Litecoin fell through the 23.6% FIB of $54 and the first major support level at $52.05 before finding support.

A late afternoon rally saw Litecoin strike an intraday high $55.34 before easing back to sub-$55 levels.

The first major resistance level at $55.20 pinned Litecoin back on the day.

At the time of writing, Litecoin was up by 0.58% to $55.07. A bullish start to the day saw Litecoin rise from an early morning low $54.77 to a high $55.20.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 05/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the 23.6% FIB of $54 and the $53.91 pivot to support a run at the first major resistance level at $56.18.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $55.34.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test resistance at $57 before any pullback. The second major resistance level sits at $57.60.

Failure to avoid a fall through the 23.6% FIB and the $53.91 pivot level would bring the first major support level at $52.49 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $50.22 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $52.49

Pivot Level: $53.91

First Major Resistance Level: $56.18

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 0.76% on Wednesday. Partially reversing a 1.71% gain from Tuesday, Ripple’s XRP ended the day at $0.2379.

It was also a mixed start to the day. Ripple’s XRP rose to an early morning high $0.24052 before hitting reverse.

Falling short of the first major resistance level at $0.2463, Ripple’s XRP slid to a late morning intraday low $0.23267.

Steering clear of the first major support level at $0.2305, Ripple’s XRP briefly revisited $0.239 levels before easing back into the red.

At the time of writing, Ripple’s XRP was up by 0.22% to $0.23843. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.23855 before falling to a low $0.23819.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 05/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2370 pivot level to support a run at the first major resistance level at $0.2414.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.24052 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test the second major resistance level at $0.2449 before any pullback.

Failure to avoid a fall through the $0.2370 pivot would bring the first major support level at $0.2335 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2292.

Looking at the Technical Indicators

First Major Support Level: $0.2335

Pivot Level: $0.2370

First Major Resistance Level: $0.2414

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

 

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – The Movers and Shakers – November 4th, 2020

Bitcoin, BTC to USD, rallied by 3.46% on Tuesday. Reversing a 1.40% decline from Monday, Bitcoin ended the day at $14,029.6.

It was a mixed start to the day. Bitcoin rose to an early morning high $13,640.0 before hitting reverse.

Falling short of the first major resistance level at $13,895, Bitcoin slid to an early morning intraday low $13,301.0

Steering clear of the first major support level at $13,234, Bitcoin rallied to a final hour intraday high $14,066.0.

Bitcoin broke through the first major resistance level at $13,863 to wrap up the day at $14,000 levels.

The near-term bullish trend remained intact, supported by the latest move through to $14,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Binance Coin (-3.32%), Bitcoin Cash ABC (-5.05%), Bitcoin Cash SV (-3.51%), Chainlink (-3.32%), Crypto.com Coin (-4.78%), and Polkadot (-3.19%) saw red on the day.

It was a relatively bullish day for the rest of the majors that joined Bitcoin in the green.

Cardano’s ADA (+1.55%), Ethereum (+1.30%), Litecoin (+0.26%), and Ripple’s XRP (+1.71%) found support on the day.

For the current week, the crypto total market cap fell to a Tuesday low $379.53bn before hitting a Tuesday high $407.51bn. At the time of writing, the total market cap stood at $398.38bn.

Bitcoin’s dominance fell to a Monday low 63.22% before rising to a Tuesday high 64.91%. At the time of writing, Bitcoin’s dominance stood at 64.79%.

This Morning

At the time of writing, Bitcoin was down by 0.65% to $13,938.6. A mixed start to the day saw Bitcoin rise to an early morning high $14,051.9 before falling to a low $13,903.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin and Polkadot bucked the trend early on, with gains of 1.16% and 0.17% respectively.

It was a bearish start for the rest of the majors, however.

At the time of writing, Chainlink was down by 1.00% to lead the way down.

BTC/USD 04/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $13,799 to bring the first major resistance level at $14,297 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s $14,066.0 high.

Barring an extended crypto rally, the first major resistance level and resistance at $14,300 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $14,500 before any pullback. The second major resistance level sits at $14,564.

Failure to avoid a fall through the $13,799 pivot would bring the first major support level at $13,532 into play.

Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$13,500 levels. The second major support level sits at $13,034.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 4th, 2020

Ethereum

Ethereum rose by 1.30% on Tuesday. Partially reversing a 3.42% slide from Monday, Ethereum ended the day at $388.32.

It was a mixed start to the day. Ethereum rose to an early morning high $385.68 before hitting reverse.

Falling short of the first major resistance level at $399.15, Ethereum slid to an early morning intraday low $370.50.

The sell-off saw Ethereum fall through the first major support level at $372.94. Finding support at $370, Ethereum rallied to a late intraday high $390.35 before easing back.

In spite of the rally, Ethereum came up short of the first major resistance level at $399.15.

At the time of writing, Ethereum was down by 0.18% to $387.64. A mixed start to the day saw Ethereum rise to an early morning high $388.69 before falling to a low $387.35.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 04/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $383.09 to support a run at the first major resistance level at $395.58.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $390.35.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a further breakout, Ethereum could test resistance at $400 before any pullback. The third major resistance level sits at $402.84.

Failure to avoid a fall through the $383.09 pivot would bring the first major support level at $375.83 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $363.34. The 38.2% FIB of $367 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $375.83

Pivot Level: $383.09

First Major Resistance Level: $395.58

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 0.26 on Tuesday. Following a 3.18% slide on Monday, Litecoin ended the day at $54.02.

A bullish start to the day saw Litecoin strike an early morning intraday high $54.40 before hitting reverse.

While falling short of the first major resistance level at $56.13, Litecoin broke through the 23.6% FIB of $54.00.

The reversal, however, saw Litecoin slide to an early morning intraday low $51.25.

Litecoin fell through 23.6% FIB and the first major support level at $52.40 before a recovery to $54 levels.

The recovery saw Litecoin break back through the first major support level and the 23.6% FIB.

At the time of writing, Litecoin was up by 0.56% to $54.32. A bullish start to the day saw Litecoin rise from an early morning low $54.02 to a high $54.53.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 04/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $53.22 pivot to support a run at the first major resistance level at $55.20.

Support from the broader market would be needed, however, for Litecoin to break back through to $55 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test resistance at $57 before any pullback. The second major resistance level sits at $56.37.

Failure to avoid a fall through the $53.22 pivot level would bring the first major support level at $52.05 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $50.07 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $52.05

Pivot Level: $53.22

First Major Resistance Level: $55.20

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 1.71% on Tuesday. Partially reversing a 2.12% fall from Monday, Ripple’s XRP ended the day at $0.23948.

It was also a mixed start to the day. Ripple’s XRP rose to an early morning high $0.23675 before hitting reverse.

Falling short of the major resistance levels, Ripple’s XRP slid to an early morning intraday low $0.22838.

Ripple’s XRP fell through the first major support level at $0.2307 before bouncing back to a late morning intraday high $0.24420.

The late morning rally saw Ripple’s XRP break through the first major resistance level at $0.2426 before easing back.

Ripple’s XRP fell back to sub-$0.2360 levels before finding late support to wrap up the day at $0.239 levels.

At the time of writing, Ripple’s XRP was up by 0.39% to $0.24041. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23972 to a high $0.24052.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 04/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2374 pivot level to support a run at the first major resistance level at $0.2463.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.2442.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.25 before any pullback. The third major resistance level sits at $0.2532.

Failure to avoid a fall through the $0.2374 pivot would bring the first major support level at $0.2305 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.22 support levels. The second major support level at $0.22215 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2305

Pivot Level: $0.2374

First Major Resistance Level: $0.2463

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 3rd, 2020

Ethereum

Ethereum slid by 3.42% on Monday. Reversing a 2.63% gain from Sunday, Ethereum ended the day at $383.33.

It was a mixed start to the day. Ethereum rose to an early morning intraday high $404.57 before hitting reverse.

Ethereum broke through the first major resistance level at $401.34 before sliding to a mid-day intraday low $378.36.

The sell-off saw Ethereum fall through the first major support level at $388.78 and the second major support level at $380.66.

Steering well clear of sub-$370 levels, Ethereum briefly revisited $388 levels before easing back to sub-$384 levels.

While breaking back through the second major support level, the first major support level pinned Ethereum back.

At the time of writing, Ethereum was down by 0.2% to $382.57. A bearish start to the day saw Ethereum fall from an early morning high $383.39 to a low $382.17.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 03/11/20 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $388.75 to support a run at the first major resistance level at $399.15.

Support from the broader market would be needed, however, for Ethereum to break out from $395 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $400 would likely cap any upside.

In the event of a further breakout, Ethereum could test resistance at $410 before any pullback. The second major resistance level sits at $414.96.

Failure to move through the $388.75 pivot would bring the first major support level at $372.94 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $362.54. The 38.2% FIB of $367 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $372.94

Pivot Level: $388.75

First Major Resistance Level: $399.15

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin slid by 3.18% on Monday. Following on from a 0.23% decline on Sunday, Litecoin ended the day at $53.90.

A bullish start to the day saw Litecoin strike an early morning intraday high $56.85 before hitting reverse.

Litecoin broke through the first major resistance level at $56.53 before sliding to a mid-day intraday low $53.12.

Litecoin fell through the first major support level at $54.44 and the 23.6% FIB of $54.00.

Finding support at the second major support level at $53.23, Litecoin revisited $54.5 levels before easing back.

While the first major support level pinned Litecoin back, the 23.6% FIB provided support late in the day.

At the time of writing, Litecoin was down by 0.33% to $53.72. A bearish start to the day saw Litecoin fall from an early morning high $53.93 to a low $53.66.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 03/11/20 Hourly Chart

For the day ahead

Litecoin would need to move through the 23.6% FIB and the $54.62 pivot to support a run at the first major resistance level at $56.13.

Support from the broader market would be needed, however, for Litecoin to break back through to $56 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test resistance at $57 before any pullback. The second major resistance level sits at $58.35.

Failure to move through the 23.6% FIB and the $54.62 pivot level would bring the first major support level at $52.40 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $50.89 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $52.40

Pivot Level: $54.62

First Major Resistance Level: $56.13

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 2.12% on Monday. Reversing a 0.14% gain from Sunday, Ripple’s XRP ended the day at $0.23549.

It was a bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.24489 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2421 and the second major resistance level at $0.2441.

Falling short of the third major resistance level at $0.2487, Ripple’s XRP slid to a mid-day intraday low $0.23297.

Ripple’s XRP fell through the first major support level at $0.2375 and the second major support level at $0.2349.

Steering clear of the third major support level at $0.2303, Ripple’s XRP briefly recovered to $0.236 levels before easing back.

The first major support level at $0.2375 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was down by 0.24% to $0.23492. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.23546 to a low $0.23487.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 03/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2378 pivot level to support a run at the first major resistance level at $0.2426.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.25 before any pullback. The second major resistance level sits at $0.2497.

Failure to move through the $0.2378 pivot would bring the first major support level at $0.2307 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 support levels. The second major support level sits at $0.2259.

Looking at the Technical Indicators

First Major Support Level: $0.2307

Pivot Level: $0.2378

First Major Resistance Level: $0.2426

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

Bitcoin and Ethereum – Weekly Technical Analysis – November 2nd, 2020

Bitcoin

Bitcoin rose by 5.52% in the week ending 1st November. Following on from a 13.20% rally from the week prior, Bitcoin ended the week at $13,756.0.

It was a mixed start to the week. Bitcoin fell to a Monday intraweek low $12,781.0 before making a move.

Steering clear of the first major support level at $11,850, Bitcoin rallied to a Saturday intraweek high $14,055.0.

Bitcoin broke through the first major resistance level at $13,791 to visit $14,000 levels for the first time since January 2018.

A bearish end to the week, however, saw Bitcoin fall back to sub-$14,000 levels.

The pullback also saw Bitcoin fall back through the first major resistance level at $13,791.

5 days in the green that included a 4.34% rally on Tuesday delivered the upside for the week.

For the week ahead

Bitcoin would need to avoid a fall through $13,531 pivot to support a run the first major resistance level at $14,280.

Support from the broader market would be needed for Bitcoin to break out from last week’s high $14,055.0.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Bitcoin could test resistance at $15,000 before any pullback. The second major resistance level sits at $14,805.

Failure to avoid a fall through the $13,531 pivot would bring the first major support level at $13,006 into play.

Barring an extended sell-off, however, Bitcoin should steer clear of sub-$13,000 support levels. The second major support level sits at $12,257.

At the time of writing, Bitcoin was down by 0.59% to $13,675.0. A mixed start to the week on Monday saw Bitcoin rise to an early Monday morning high $13,836.0 before falling to a low $13,645.0.

Bitcoin left the major support and resistance levels untested at the start of the week.

BTC/USD 02/11/20 Daily Chart

Ethereum

Ethereum fell by 2.32% in the week ending 1st November. Partially reversing a 7.37% gain from the previous week, Ethereum ended the week at $369.91.

It was a choppy start to the week. Recovering from a 3.28% slide on Monday, Ethereum struck a Tuesday intraweek high $411.77 before hitting reverse.

Falling well short of the first major resistance level at $431, Ethereum slid to a Friday intraweek low $373.40.

Finding support at the first major support level at $373, however, Ethereum revisited $397 levels before easing back.

4-days in the red that included a 3.28% fall on Monday and a 4.22% slide on Wednesday delivered the downside for the week. A 3.21% rally on Tuesday limited the losses, however.

For the week ahead

Ethereum would need to avoid a fall through the $394 pivot level to support a run at the first major resistance level at $415.

Support from the broader market would be needed, however, for Ethereum to break out from last week’s high $411.77.

Barring an extended crypto rally, the first major resistance level and last week’s high $411.77 would likely cap any upside.

In the event of a breakout, Ethereum could test the second major resistance level at $432 before any pullback.

Failure to avoid a fall through the $394 pivot would bring the first major support level at $376 and the 38.2% FIB of $367 into play.

Barring an extended crypto market sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level sits at $356.

At the time of writing, Ethereum was up by 0.65% to $399.49. A Bullish start to the week saw Ethereum rise from an early Monday morning low $369.90 to an early morning high $404.57.

Ethereum left the major support and resistance levels untested at the start of the week.

ETH/USD 02/11/20 Daily Chart

The Crypto Daily – Movers and Shakers – November 2nd, 2020

Bitcoin, BTC to USD, slipped by 0.16% on Sunday. Partially reversing a 1.62% gain from Saturday, Bitcoin ended the week up by 5.52% to $13,756.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $13,892.0 before hitting reverse.

Falling short of the first major resistance level at $14,087, Bitcoin fell to an early morning intraday low $13,611.0.

Steering clear of the first major support level at $13,457, Bitcoin revisited $13,800 levels before easing back into the red.

The near-term bullish trend remained intact, supported by the latest move through to $14,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday.

Bitcoin Cash SV (-0.33%) and Litecoin (-0.23%) joined Bitcoin in the red, with Binance Coin ending the day flat.

It was a bullish day for the rest of the majors, however.

Cardano’s ADA led the way, rallying by 5.49%.

Bitcoin Cash ABC (+2.15%), Chainlink (+3.28%), Crypto.com Coin (+1.06%), and Ethereum (+2.63%) also found strong support.

Polkadot (+0.99%) and Ripple’s XRP (+0.14%) trailed the front runners, however.

For the week, it was a bearish week for the majors.

Crypto.com Coin led the way down, sliding by 13.55%.

Bitcoin Cash SV (-9.18%), Cardano’s ADA (-7.67%), and Polkadot (-7.53%) also saw heavy losses.

Binance Coin (-5.41%), Bitcoin Cash ABC (-1.35%), Chainlink (-4.55%), Ethereum (-2.32%), Litecoin (-5.49%), and Ripple’s XRP (-5.21%) saw relatively modest losses in the week.

For the week, the crypto total market cap fell to a Wednesday low $377.68bn before striking a Saturday high $605.88bn. At the time of writing, the total market cap stood at $400.16bn.

Bitcoin’s dominance slid to a Saturday low 43.12% before bouncing back to a Sunday high 64.19%. At the time of writing, Bitcoin’s dominance stood at 63.3%.

This Morning

At the time of writing, Bitcoin was down by 0.41% to $13,700.0. A mixed start to the day saw Bitcoin rise to an early morning high $13,836.0 before falling to a low $13,700.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day with Crypto.com Coin falling by 1.99% to buck the trend.

It was a relatively bullish start for the rest of the majors, however.

At the time of writing, Bitcoin Cash SV was up by 1.42% to lead the way.

BTC/USD 02/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $13,753 to bring the first major resistance level at $13,895 back into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $13,836.0.

Barring an extended crypto rally, the first major resistance level and resistance at $14,000 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test the second major resistance level at $14,034.

Failure to move back through the $13,753 pivot would bring the first major support level at $13,614 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$13,500 levels. The second major support level sits at $13,472.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – November 2nd, 2020

Ethereum

Ethereum rose by 2.63% on Sunday. Following on from a 1.04% gain on Saturday, Ethereum ended the week down by 2.32% to $396.91.

It was a mixed start to the day. Ethereum rose to an early morning high $390.77 before hitting reverse.

Falling short of the first major resistance level at $393.57, Ethereum fell to an early morning intraday low $385.09.

Steering clear of the first major support level at $380.33, Ethereum rallied to a late intraday high $397.65.

Ethereum broke through the first major resistance level at $393.57 to deliver the upside on the day.

At the time of writing, Ethereum was up by 1.53% to $402.99. A bullish start to the day saw Ethereum rise from an early morning low $396.90 to a high $404.49.

Ethereum broke through the first major resistance level at $401.34 early on.

ETH/USD 02/11/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall back through to sub-$400 levels to support another run at the second major resistance level at $405.78.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $404.49.

Barring an extended crypto rally, the second major resistance level would likely cap any upside.

In the event of a further breakout, Ethereum could test resistance at $410 before any pullback. The third major resistance level sits at $418.34.

A fall back through to sub-$400 levels and the $393.22 pivot would bring the first major support level at $388.78 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$380 levels. The second major support level at $380.66 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $388.78

Pivot Level: $393.22

First Major Resistance Level: $401.34

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 0.23% on Sunday. Partially reversing a 3.18% rally from Saturday, Litecoin ended the week down by 5.49% to $55.65

It was a bullish start to the day. Litecoin rose to an early morning intraday high $56.20 before hitting reverse.

Falling well short of the first major resistance level at $57.00, however, Litecoin fell to a late morning intraday low $54.11.

Finding support at the 23.6% FIB of $54 and the first major support level at $54.15, Litecoin revisited $56 levels before easing back into the red.

At the time of writing, Litecoin was up by 1.01% to $56.21. A bullish start to the day saw Litecoin rise from an early morning low $55.67 to a high $56.85.

Litecoin broke through the first major resistance level at $56.53 early on.

LTC/USD 02/11/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $55.32 pivot to support another run at the first major resistance level at $56.53.

Support from the broader market would be needed, however, for Litecoin to break back through to $56.50 levels.

Barring an extended crypto rally, the first major resistance level and the morning high $56.85 would likely cap any upside.

In the event of an extended breakout, Litecoin would likely test the second major resistance level at $57.41 before any pullback.

Failure to avoid a fall through the $55.32 pivot level would bring the first major support level at $54.44 and the 23.6% FIB of $54 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$54 levels. The second major support level sits at $53.23.

Looking at the Technical Indicators

First Major Support Level: $54.44

Pivot Level: $55.32

First Major Resistance Level: $56.53

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 0.14% on Sunday. Following on from a 0.29% gain on Saturday, Ripple’s XRP ended the week down by 5.21% to $0.24009.

It was another mixed start to the day. Ripple’s XRP rose to an early morning high $0.24148 before hitting reverse.

Falling short of the first major resistance level at $0.2432, Ripple’s XRP slid to a mid-day intraday low $0.23689.

Ripple’s XRP fell through the first major support level at $0.2373 before revisiting $0.2414 levels.

A late pullback, however, left Ripple’s XRP at sub-$0.2410 levels at the day end.

At the time of writing, Ripple’s XRP was up by 1.09% to $0.24270. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24060 to a high $0.24330.

Ripple’s XRP broke through the first major resistance level at $0.2421 early on.

XRP/USD 02/11/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the first major resistance level at $0.2421 to support another run at the second major resistance level at $0.2441.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.24330.

Barring an extended crypto rally, the second major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.25 before any pullback. The third major resistance level sits at $0.2487.

A fall through the first major resistance level and the $0.2395 pivot would bring the first major support level at $0.2375 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2350 levels. The second major support level sits at $0.2349.

Looking at the Technical Indicators

First Major Support Level: $0.2375

Pivot Level: $0.2395

First Major Resistance Level: $0.2421

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – November 1st, 2020

Bitcoin, BTC to USD, rose by 1.62% on Saturday. Following on from a 0.88% gain on Friday, Bitcoin ended the day at $13,788.0.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $13,425.0 before making a move.

Steering clear of the first major support level at $13,234, Bitcoin rallied to a late morning intraday high $14,055.0.

Bitcoin broke through the first major resistance level at $13,787 and the second major resistance level at $14,007.

A pullback going into the afternoon saw Bitcoin fall back to sub-$13,600 levels before finding support.

Range-bound through the 2nd half of the day, however, the first major resistance level at $13,787 pinned Bitcoin back.

The near-term bullish trend remained intact, supported by the latest move through to $14,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Crypto.com Coin (-0.47%) and Cardano’s ADA (-0.49%) saw red to buck the trend on the day.

It was a bullish day for the rest, however, with Litecoin rallying by 3.18% to lead the way.

Bitcoin Cash SV (+1.84%), Chainlink (+1.32%), and Ethereum (+1.04%) also found relatively strong support.

Binance Coin (+0.15%), Bitcoin Cash ABC (+0.25%), Polkadot (+0.77%), and Ripple’s XRP (+0.29%) saw relatively modest gains on the day.

In current the week, the crypto total market cap fell to a Wednesday low $377.69bn before striking a Saturday high $604.34. At the time of writing, the total market cap stood at $402.37bn.

Bitcoin’s dominance slid to a Saturday low 43.21% before bouncing back to a Saturday high 64.19%. At the time of writing, Bitcoin’s dominance stood at 64.01%.

This Morning

At the time of writing, Bitcoin was down by 0.01% to $13,787.0. A mixed start to the day saw Bitcoin fall to an early morning low $13,708.0 before rising to a high $13,795.0

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day with Binance Coin falling by 0.22% to buck the trend.

It was a relatively bullish start for the rest of the majors, however.

At the time of writing, Ethereum was up by 0.78% to lead the way.

BTC/USD 01/11/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $13,756 to bring the first major resistance level at $14,087 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $14,055.

Barring an extended crypto rally, the first major resistance level and resistance at $14,100 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $14,400 before any pullback. The second major resistance level sits at $14,386.

Failure to avoid a fall back through the $13,756 pivot would bring the first major support level at $13,457 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$13,400 levels. The second major support level sits at $13,126.

The Crypto Daily – Movers and Shakers – October 31st, 2020

Bitcoin, BTC to USD, rose by 0.88% on Friday. Following on from a 1.39% gain on Thursday, Bitcoin ended the day at $13,568.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $13,673.0 before hitting reverse.

Falling short of the first major resistance level at $13,729, Bitcoin slid to a mid-morning intraday low $13,120.0

Steering clear of the first major support level at $13.072, Bitcoin rose to a late afternoon high $13,673.0 before easing back.

The near-term bullish trend remained intact, supported by the latest move through to $13,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was bearish day on Friday.

Binance Coin and Crypto.com Coin slid by 4.52% and by 5.88% to lead the way down.

Bitcoin Cash SV (-2.30%), Cardano’s ADA (-1.92%), Chainlink (-1.65%), Ethereum (-1.22%), Litecoin (-1.55%), and Ripple’s XRP (-1.36%) also struggled.

Bitcoin Cash ABC (-1.06%) and Polkadot (-0.33%) saw relatively modest losses on the day.

In current the week, the crypto total fell to a Wednesday low $377.69bn before striking a Friday high $585.96. At the time of writing, the total market cap stood at $394.82bn.

Bitcoin’s dominance rose to a Friday high 64.16% before sliding to a Saturday low 43.18%. At the time of writing, Bitcoin’s dominance stood at 63.90%.

This Morning

At the time of writing, Bitcoin was up by 0.38% to $13,619.0 A mixed start to the day saw Bitcoin fall to an early morning low $13,525.0 before rising to a high $13,649.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was another mixed start to the day. Cardano’s ADA (-0.05%) and Crypto.com Coin (-1.18%) bucked the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Litecoin was up by 1.35% to lead the way.

BTC/USD 31/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $13,454 to bring the first major resistance level at $13,787 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $13,700 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $14,000 before any pullback. The second major resistance level sits at $14,007.

Failure to avoid a fall through the $13,454 pivot would bring the first major support level at $13,234 into play.

Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$13,000 levels. The second major support level sits at $12,901.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 31st, 2020

Ethereum

Ethereum fell by 1.22% on Friday. Following on from a 0.25% decline on Thursday, Ethereum ended the day at $382.77.

It was a mixed start to the day. Ethereum rose to an early morning high $392.16 before hitting reverse.

Falling short of the first major resistance level at $394.15, Ethereum fell to a late morning intraday low $373.40.

Ethereum fell through the first major support level at $380.90 and the second major support level at $374.20.

Steering clear of sub-$370 levels, Ethereum broke back through to $380 levels to reduce the deficit on the day.

At the time of writing, Ethereum was down by 0.31% to $381.57. A mixed start to the day saw Ethereum rise to an early morning high $383.00 before falling to a low $381.21.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 31/10/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $382.78 pivot to support a run at the first major resistance level at $392.15.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $392.16 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $400 before any pullback. The second major resistance level sits at $401.54.

Failure to move through the $382.78 pivot would bring the first major support level at $373.39 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $367.00. The second major support level sits at $364.02.

Looking at the Technical Indicators

First Major Support Level: $373.39

Pivot Level: $382.78

First Major Resistance Level: $392.15

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 1.55% on Friday. Following on from a 1.56% slide on Thursday, Litecoin ended the day a $54.08.

It was a bullish start to the day. Litecoin rose to an early morning intraday high $55.81 before hitting reverse.

Falling well short of the first major resistance level at $56.53, however, Litecoin fell to a late morning intraday low $52.27.

Litecoin fell through the 23.6% FIB of $54 and the first major support level at $53.42 before a partial recovery to $54 levels.

At the time of writing, Litecoin was down by 0.43% to $53.85. A bearish start to the day saw Litecoin fall from an early morning high $54.12 to a low $53.73.

Litecoin left the major support and resistance levels untested early on. The pullback did see Litecoin fall back through the 23.6% FIB, however.

LTC/USD 31/10/20 Hourly Chart

For the day ahead

Litecoin would need to move through the 23.6% FIB and the $54.05 pivot to support a run at the first major resistance level at $55.84.

Support from the broader market would be needed, however, for Litecoin to break back through to $55 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $55.81 would likely cap any upside.

In the event of a breakout, Litecoin would likely test the second major resistance level at $57.59 before any pullback.

Failure to move through the 23.6% FIB and the $54.05 pivot level would bring the first major support level at $52.30 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $50.51 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $52.30

Pivot Level: $54.05

First Major Resistance Level: $55.84

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP declined by 1.36% on Friday. Following on from a 1.29% fall on Thursday, Ripple’s XRP ended the day at $0.23930.

It was another mixed start to the day. Ripple’s XRP rose to an early morning high $0.24416 before hitting reverse.

Falling well short of the first major resistance level at $0.2464, Ripple’s XRP slid to a late morning intraday low $0.23101.

Ripple’s XRP fell through the first major support level at $0.2392 and the second major support level at $0.2360.

Finding support in the 2nd half of the day, Ripple’s XRP moved back through to $0.2390 levels to reduce the deficit on the day.

The first major support level at $0.2392 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was down by 0.13% to $0.23900. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.23929 to a low $0.23900.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 31/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2372 pivot to support a run at the first major resistance level at $0.2433.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.24116.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.25 before any pullback. The second major resistance level sits at $0.2473.

Failure to avoid a fall through the $0.2372 pivot would bring the first major support level at $0.2332 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 levels and the second major support level at $0.2270.

Looking at the Technical Indicators

First Major Support Level: $0.2332

Pivot Level: $0.2372

First Major Resistance Level: $0.2433

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – October 30th, 2020

 

Bitcoin, BTC to USD, rose by 1.39% on Thursday. Partially reversing a 2.63% slide from Wednesday, Bitcoin ended the day at $13,450.0.

It was a mixed start to the day. Bitcoin rose to a mid-morning high $13,314.0 before hitting reverse.

Falling short of the first major resistance level at $13,766, Bitcoin slid to a mid-day intraday low $12,972.0.

Steering clear of the first major support level at $12,842, Bitcoin rose to a late afternoon intraday high $13,629.0.

Coming up short of the first major resistance level at $13,766, however, Bitcoin eased back to end the day at sub-$13,500 levels.

The near-term bullish trend remained intact, supported by the latest move through to $13,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was another mixed day on Thursday.

Crypto.com Coin rose by 0.67% to buck the trend on the day.

It was a bearish day for the rest of the majors, however.

Polkadot tumbled by 8.20% to lead the way down.

Binance Coin (-1.60%), Bitcoin Cash SV (-2.09%), Cardano’s ADA (-3.45%), Chainlink (-1.69%), Litecoin (-1.56%), and Ripple’s XRP (1.29%) also struggled.

Bitcoin Cash ABC (-0.55%) and Ethereum (-0.25%) saw relatively modest losses on the day.

In current the week, the crypto total rose to a Tuesday high $410.31bn before falling to a Wednesday low $377.69bn. At the time of writing, the total market cap stood at $392.30bn.

Bitcoin’s dominance fell to a Monday low 61.54% before rising to a Friday morning high 63.64%. At the time of writing, Bitcoin’s dominance stood at 63.55%.

This Morning

At the time of writing, Bitcoin was down by 0.28% to $13,414.0. A mixed start to the day saw Bitcoin rise to an early morning high $13,453.6 before falling to a low $13,325.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was another mixed start to the day. Binance Coin (+0.51%) and Polkadot (+0.69%) bucked the trend early on.

It was a bearish start for the rest of the majors, however.

At the time of writing,  Cardano’s ADA was down by 0.78% to lead the way down.

BTC/USD 30/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $13,351 to bring the first major resistance level at $13,729 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $13,629.0.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $14,000 before any pullback. The second major resistance level sits at $14,008.

Failure to avoid a fall through the $13,351 pivot would bring the first major support level at $13,702 into play.

Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$12,800 levels. The second major support level sits at $12,694.

 

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 30th, 2020

Ethereum

Ethereum fell by 0.25% on Thursday. Following a 4.22% slide on Wednesday, Ethereum ended the day at $387.60.

It was a mixed start to the day. Ethereum rose to an early morning high $392.51 before hitting reverse.

Falling short of the first major resistance level at $405.27, Ethereum fell to a mid-day intraday low $380.75.

Steering clear of the first major support level at $376.25, Ethereum rose to a late afternoon intraday high $394.00.

Falling well short of the first major resistance level at $405.27, Ethereum fell back to sub-$388 levels and into the red.

At the time of writing, Ethereum was down by 0.31% to $386.39. A mixed start to the day saw Ethereum rise to an early morning high $387.67 before falling to a low $386.39.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 30/10/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $387.45 pivot to support a run at the first major resistance level at $394.15.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $394.00 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $400 before any pullback. The second major resistance level sits at $400.70.

Failure to move through the $387.45 pivot would bring the first major support level at $380.90 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$370 levels. The second major support level at $374.20 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $380.90

Pivot Level: $387.45

First Major Resistance Level: $394.15

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 1.56% on Thursday. Following on from a 4.02% slide on Wednesday, Litecoin ended the day a $54.97.

It was a bullish start to the day. Litecoin rose to a late morning intraday high $56.55 before hitting reverse.

Falling well short of the first major resistance level at $59.59, however, Litecoin fell to a mid-day intraday low $53.44.

Finding support at the first major support level at $53.40 Litecoin briefly revisited $56 levels before sliding back into the red.

At the time of writing, Litecoin was down by 0.51% to $54.69. A bearish start to the day saw Litecoin fall from an early morning $54.94 to a low $54.69.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 30/10/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $54.99 pivot to support a run at the first major resistance level at $56.53.

Support from the broader market would be needed, however, for Litecoin to break back through to $56 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Litecoin would likely test resistance the second major resistance level at $58.10 before any pullback.

Failure to move through the $54.99 pivot level would bring the 23.6% FIB of $54 and the first major support level at $53.42 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $51.88 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $53.42

Pivot Level: $54.99

First Major Resistance Level: $56.53

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 1.29% on Thursday. Following on from a 2.84% decline on Wednesday, Ripple’s XRP ended the day at $0.24239.

It was a mixed start to the day. Ripple’s XRP rose to an early morning high $0.24707 before hitting reverse.

Falling well short of the first major resistance level at $0.2534 Ripple’s XRP slid to a mid-day intraday low $0.2400.

Finding support at the first major support level at $0.2411, Ripple’s XRP struck a late afternoon intraday high $0.24725.

Coming up short of the first major resistance level at $0.2534, Ripple’s XRP fell back to sub-$0.2450 levels and into the red.

At the time of writing, Ripple’s XRP was down by 0.03% to $0.24232. A range-bound start to the day saw Ripple’s XRP fall from an early morning high $0.24259 to a low $0.24232.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 30/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2432 pivot to support a run at the first major resistance level at $0.2464.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2450 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.24725 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.25 before any pullback. The second major resistance level sits at $0.2505.

Failure to move through the $0.2432 pivot would bring the first major support level at $0.2392 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2360.

Looking at the Technical Indicators

First Major Support Level: $0.2392

Pivot Level: $0.2432

First Major Resistance Level: $0.2464

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 29th, 2020

Ethereum

Ethereum slid by 4.22% on Wednesday. Reversing a 3.22% gain from Tuesday, Ethereum ended the day at $388.63.

It was a bullish start to the day. Ethereum rose to an early morning intraday high $409.52 before hitting reverse.

Falling short of the first major resistance level at $414.89, Ethereum tumbled to an early afternoon intraday low $380.50.

Ethereum fell through the first major support level at $393.47 and the second major support level at $381.20.

Steering clear of sub-$380, Ethereum broke back through the second major support level to end the day at $388 levels.

At the time of writing, Ethereum was down by 0.01% to $388.61. A mixed start to the day saw Ethereum rise to an early morning high $389.05 before falling to a low $388.02.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 29/10/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $392.88 pivot to support a run at the first major resistance level at $405.27.

Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $409.52 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $415 before any pullback. The second major resistance level sits at $421.90.

Failure to move through the $392.88 pivot would bring the first major support level at $376.25 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $367. The second major support level sits at $363.86.

Looking at the Technical Indicators

First Major Support Level: $376.25

Pivot Level: $392.88

First Major Resistance Level: $405.27

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin slid by 4.02% on Wednesday. Reversing a 2.20% gain from Tuesday, Litecoin ended the day a $55.84.

It was a bullish start to the day. Litecoin rallied to an early morning intraday high $60.90 before hitting reverse.

The early rally saw Litecoin break through the first major resistance level at $59.32 and the second major resistance level at $60.50.

Coming up against resistance at $61, however, Litecoin slid to a late intraday low $54.71.

The sell-off saw Litecoin fall through the first major support level at $56.73 and the second major support level at $55.33.

Finding late support, however, Litecoin broke back through the second major support level to end the day at $55.6 levels.

At the time of writing, Litecoin was up by 0.04% to $55.86. A mixed start to the day saw Litecoin fall to an early morning low $55.74 before rising to a high $55.89.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 29/10/20 Hourly Chart
LTC/USD 29/10/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $57.15 pivot to support a run at the first major resistance level at $59.59.

Support from the broader market would be needed, however, for Litecoin to break back through to $59 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Litecoin would likely test resistance at $60 before any pullback. The second major resistance level sits at $63.34.

Failure to move through the $57.15 pivot level would bring the 23.6% FIB of $54 and the first major support level at $53.40 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$50 levels. The second major support level at $50.96 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $53.40

Pivot Level: $57.15

First Major Resistance Level: $59.59

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 2.84% on Wednesday. Reversing a 1.72% gain from Tuesday, Ripple’s XRP ended the day at $0.24559.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.25676 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2553 before sliding to a late intraday low $0.24448.

Ripple’s XRP fell through the first major support level at $0.2491 and the second major support level at $0.2454.

Finding late support, a move back through the second major support level reduced the deficit for the day.

At the time of writing, Ripple’s XRP was down by 0.37% to $0.24467. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24557 to a low $0.24466.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 29/10/20 Hourly Chart
XRP/USD 29/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2489 pivot to support a run at the first major resistance level at $0.2534.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.25 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.26 before any pullback. The second major resistance level sits at $0.2612.

Failure to move through the $0.2489 pivot would bring the first major support level at $0.2411 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2367.

Looking at the Technical Indicators

First Major Support Level: $0.2411

Pivot Level: $0.2489

First Major Resistance Level: $0.2534

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – October 28th, 2020

Bitcoin, BTC to USD, rallied by 4.34% on Tuesday. Following on from a 0.18% gain on Monday, Bitcoin ended the day at $13,626.0.

It was a bullish start to the day. Bitcoin rallied from an early morning intraday low $13,054.0 to a late intraday high $13,769.0.

Bitcoin broke through the first major resistance level at $13,275 and the second major resistance level at $13,491.

A pullback in the final hour, however, saw Bitcoin wrap up the day at sub-$13,700 levels.

The near-term bullish trend remained intact, supported by the latest move through to $13,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Cardano’s ADA (-0.56%) and Polkadot (-4.72%) bucked the trend on the day.

It was a bullish day for the rest of the majors.

Ethereum led the way, rallying by 3.22%.

Binance Coin (+1.38%), Bitcoin Cash ABC (+1.33%), Chainlink (+1.97%), Crypto.com Coin (+2.49%), Litecoin (+2.20%), and Ripple’s XRP (+1.72%) also found strong support.

Bitcoin Cash SV trailed with a 0.26% gain.

In current the week, the crypto total fell to a Monday $378.22bn low before rising to a Tuesday $410,2bn high. At the time of writing, the total market cap stood at $403.43bn.

Bitcoin’s dominance fell to a Monday low of 61.54% before rising to a Wednesday 63.08% high. At the time of writing, Bitcoin’s dominance stood at 63.04%.

This Morning

At the time of writing, Bitcoin was up by 0.67% to $13,717.0. A mixed start to the day saw Bitcoin fall to an early morning low $13,593.0 before rising to a high $13,718.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day. Ripple’s XRP was down by 0.27% to buck the trend early on.

Elsewhere it was a bullish start to the day.

At the time of writing, Chainlink was up by 1.00% to lead the way.

BTC/USD 28/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $13,483 to bring the first major resistance level at $13,912 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $13,769.0.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $14,500 before any pullback. The second major resistance level sits at $14,198.

Failure to avoid a fall through the $13,483 pivot would bring the first major support level at $13,197 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$13,000 levels. The second major support level sits at $12,768.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 28th, 2020

Ethereum

Ethereum rose by 3.22% on Tuesday. Reversing a 3.25% slide from Monday, Ethereum ended the day at $405.74.

It was a relatively range-bound start to the day. Ethereum fell to a late morning intraday low $390.35 before making a move.

Steering clear of the first major support level at $379.73, Ethereum rallied to a late intraday high $411.77.

Ethereum broke through the first major resistance level at $408.99, before easing back to $405 levels.

At the time of writing, Ethereum was down by 0.18% to $405.00. A bearish start to the day saw Ethereum fall from an early morning high $405.76 to a low $404.55.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 28/10/20 Hourly Chart
ETH/USD 29/10/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $402.62 pivot to support a run at the first major resistance level at $414.89.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $411.77.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test the second major resistance level at $424.04.

Failure to avoid a fall through the $402.62 pivot would bring the first major support level at $393.47 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $381.20.

Looking at the Technical Indicators

First Major Support Level: $393.47

Pivot Level: $402.62

First Major Resistance Level: $414.89

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 2.20% on Tuesday. Partially reversing a 3.38% slide from Monday, Litecoin ended the day a $58.14.

It was a mixed start to the day. Litecoin fell to an early morning intraday low $56.51 before making a move.

Steering clear of the first major support level at $54.81, Litecoin rose to a late afternoon intraday high $59.10.

Coming up against the first major resistance level at $59.16, Litecoin fell back to end the day at sub-$59 levels.

At the time of writing, Litecoin was down by 0.46% to $57.87. A bearish start to the day saw Litecoin fall from an early morning high $58.24 to a low $57.06.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 28/10/20 Hourly Chart
LTC/USD 29/10/20 Hourly Chart

For the day ahead

Litecoin would need to move back through the $57.92 pivot to support a run at the first major resistance level at $59.32.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $59.10.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Litecoin would likely test the second major resistance level at $60.51.

Failure to move back through the $57.92 pivot level would bring the first major support level at $56.73 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of sub-$55 levels. The second major support level at $55.33 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $56.73

Pivot Level: $57.92

First Major Resistance Level: $59.32

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 1.72% on Tuesday. Reversing a 1.87% fall from Monday, Ripple’s XRP ended the day at $0.25277.

It was a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.24796 before making a move.

Steering clear of the first major support level at $0.2420, Ripple’s XRP rose to a late afternoon intraday high $0.25420.

Falling short of the first major resistance level at $0.2570, Ripple’s XRP fell back to end the day at $0.2520 levels.

At the time of writing, Ripple’s XRP was down by 0.12% to $0.25246. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25279 to a low $0.25246.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 28/10/20 Hourly Chart
XRP/USD 29/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2516 pivot to support a run at the first major resistance level at $0.2553.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.25420.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.26 before any pullback. The second major resistance level sits at $0.2579.

Failure to avoid a fall through the $0.2516 pivot would bring the first major support level at $0.2491 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2454.

Looking at the Technical Indicators

First Major Support Level: $0.2491

Pivot Level: $0.2516

First Major Resistance Level: $0.2553

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 27th, 2020

Ethereum

Ethereum slid by 3.25% on Monday. Following on from a 1.48% fall on Sunday, Ethereum ended the day at $393.12.

A bullish start to the day saw Ethereum rise to an early morning intraday high $411.7 before hitting reverse.

Falling short of the first major resistance level at $415.24, Ethereum slid to a late afternoon intraday low $382.21.

Ethereum fell through the first major support level at $400.30 and the second major support level at $394.14.

Steering clear of sub-$380 levels, Ethereum broke back through the second major support level before wrapping up the day at $393 levels.

At the time of writing, Ethereum was up by 0.16% to $393.75. A mixed start to the day saw Ethereum fall to an early morning low $392.91 before rising to a high $393.78.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 27/10/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $395.60 pivot to support a run at the first major resistance level at $408.99.

Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $410 before any pullback. The second major resistance level sits at $424.86.

Failure to move through the $395.60 pivot would bring the first major support level at $379.73 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $367. The second major support level sits at $366.34.

Looking at the Technical Indicators

First Major Support Level: $379.73

Pivot Level: $395.60

First Major Resistance Level: $408.99

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin slid by 3.38% on Monday. Following on from a 0.62% decline on Sunday, Litecoin ended the day a $56.89.

It was a mixed start to the day. Litecoin rose to an early morning intraday high $59.35 before hitting reverse.

Falling short of the first major resistance level at $60.39, Litecoin slid to a late afternoon intraday low $55.00.

The sell-off saw Litecoin fall through the first major support level at $56.96. Finding support at the second major support level at $55.04, Litecoin revisited $57 levels before easing back to sub-$57 levels.

The partial recovery saw Litecoin briefly move back through the first major support level at $56.96.

At the time of writing, Litecoin was up by 0.21% to $57.01. A mixed start to the day saw Litecoin fall to an early morning low $56.83 before rising to a high $57.08.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 27/10/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $57.08 pivot to support a run at the first major resistance level at $59.16.

Support from the broader market would be needed, however, for Litecoin to break out from $58 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Litecoin would likely test the second major resistance level at $61.43.

Failure to move through the $57.08 pivot level would bring the first major support level at $54.81 and the 23.6% FIB of $54 into play.

Barring another extended sell-off on the day, however, Litecoin should steer well clear of sub-$50 levels. The second major support level at $52.73 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $54.81

Pivot Level: $57.08

First Major Resistance Level: $59.16

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 1.87% on Monday. Following on from a 1.20% loss on Sunday, Ripple’s XRP ended the day at $0.24854.

It was a bullish start to the day. Ripple’s XRP rose to an early morning intraday high $0.25900 before hitting reverse.

The early rally saw Ripple’s XRP break through the first major resistance level at $0.2566.

Coming within range of the second major resistance level at $0.2599, however, Ripple’s XRP slid to a late afternoon intraday low $0.2440.

Ripple’s XRP fell through the first major support level at $0.2507 and the second major support level at $0.2482.

Finding late support, however, Ripple’s XRP moved back through the second major support level to end the day at $0.2485 levels.

At the time of writing, Ripple’s XRP was down by 0.15% to $0.24817. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24849 to a low $0.24817.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 27/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2505 pivot to support a run at the first major resistance level at $0.2570.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.25 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.26 before any pullback. The second major resistance level sits at $0.2655.

Failure to move through the $0.2505 pivot would bring the first major support level at $0.2420 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2355.

Looking at the Technical Indicators

First Major Support Level: $0.2420

Pivot Level: $0.2505

First Major Resistance Level: $0.2570

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

Weekly Recap: Bitcoin and Ethereum Generate Weekly Returns of Over 8%

Bitcoin Breaks Out, Generating Weekly Returns of Nearly 13%

Indeed, the flagship digital asset was able to break out of a consolidation pattern where it was stuck for over the past two months. The upward pressure behind BTC pushed its price to new yearly highs and allowed it to decouple from the rest of the market.

Bitcoin kicked off Monday’s trading session, October 19th, at a low of $11,500, and it did not take long for the bulls to take control. Prices shot up nearly 3.5%, and by Tuesday’s candlestick close, BTC was trading at a high of $11,900. Given the significant gains posted in such a short period, it seems like market participants rushed to exchanges to get a piece of the price action.

As buy orders began to pile up, the pioneer cryptocurrency broke out of an ascending parallel channel that was containing its price action since the market crash in early September. After slicing through the upper boundary of this technical formation during the first few hours of October 21st’s trading session, FOMO took over the market’s sentiment. The substantial spike in demand was followed by an 11.3% upswing that saw Bitcoin rise to levels not seen in more than a year.

Bitcoin rose to a high of $13,240, which was precisely the target determined by the ascending parallel channel. Investors could grasp weekly returns of nearly 13% as BTC closed Friday, October 23rd, at $11,970. Now, the $13,000 resistance zone will play a key role in determining where prices are headed next.

Ethereum Follows Bitcoin Steps and Aims for New Yearly Highs

As Bitcoin stole the spotlight of the cryptocurrency market because of its impressive price action, Ethereum was left on the sidelines waiting for buyers. The smart contracts token dropped over 3.5% following the weekly open to hit a low of $364.9 on Tuesday, October 20th. Nonetheless, this support barrier was able to keep falling prices at bay and serve as a rebound zone.

While demand started picking up during the first few hours after October 21st’s open, Ethereum showed signs that it wanted to follow Bitcoin’s steps. The second-largest cryptocurrency by market capitalization rose and moved past the x-axis of an ascending triangle where it was contained over the past month. Turning this critical area into support was seen as a buy signal for many investors.

By late Thursday, October 22nd, Ethereum had risen 14.5% to hit a high of $421.9. Many sell orders were filled on this upward push, creating some downward pressure behind Ether. As a result, it retraced nearly 3% to close the week at $409.4, providing a weekly return of 8.2%.

Although the ascending triangle previously mentioned projected a target of $470, it may take some time for Ether to achieve its upside potential. As investors shift their attention towards Bitcoin, Ethereum may retest the breakout point at $390 before it advances further.

The Crypto Market Marches to New Highs

Bitcoin has brought a lot of attention to the cryptocurrency market. As publicly traded companies continue adding this digital asset to their portfolio to hedge against potential risks, fewer tokens are being left in exchanges. The increase in scarcity is a very positive sign since it indicates that there is less BTC to sell.

While the bellwether cryptocurrency continues hovering around the $13,000 zone, investors must pay close attention to this crucial hurdle. A weekly candlestick close above it could lead to another rally towards $14,000. Meanwhile, failing to turn this area into support may see Bitcoin drop to $12,500 or $12,000.

Ethereum, on the other hand, would have to slice through the overhead resistance at $420 in order to advance to $470. Otherwise, the odds will increase for a pullback towards $390 before prices are forced to rise again.

Konstantin Anissimov, Executive director at CEX.IO

The Crypto Daily – Movers and Shakers – October 26th, 2020

Bitcoin, BTC to USD, fell by 0.69% on Sunday. Partially reversing a 1.52% gain from Saturday, Bitcoin ended the week up by 13.20% to $13,037.

It was another mixed start to the day. Bitcoin rose to an early morning intraday high $13,358.0 before hitting reverse.

Breaking through the first major resistance level at $13,243, Bitcoin came up against the second major resistance level at $13,358.

The reversal saw Bitcoin slide through the first major support level at $12,945 to a mid-morning intraday low $12,850.0

Finding support through the rest of the day, Bitcoin recovered to $13,000 levels to limit the loss on the day.

The near-term bullish trend remained intact, supported by the latest move through to $13,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday.

Bitcoin Cash SV rallied by 8.16%, with Polkadot rising by 0.30% to buck the trend on the day.

It was a bearish end to the week for the rest of the majors.

Chainlink and Crypto.com Coin slid by 4.29% and by 4.63% respectively to lead the way down.

Binance Coin (-1.60%), Bitcoin Cash ABC (-1.50%), Cardano’s ADA (-1.39%), Ethereum (-1.48%), and Ripple’s XRP (-1.20%) also struggled.

Litecoin (-0.62%) saw a relatively modest loss on the day.

For the week ending 25th October, it was also a mixed bag.

Litecoin surged by 23.73% to lead the way.

Bitcoin Cash ABC (+9.32%), Bitcoin Cash SV (+13.38%), Chainlink (+11.07%), Ethereum (+7.37%), and Ripple’s XRP (+4.52%) also found strong support.

It was a bearish week for the rest of the pack, however.

Crypto.com Coin tumbled by 18.53% to lead the way down.

Binance Coin (-1.73%), Cardano’s ADA (-1.00%), and Polkadot (-6.72%) also struggled in the week.

In the week, the crypto total fell to a Tuesday low $347.73bn before surging to a Sunday high $403.12bn. At the time of writing, the total market cap stood at $391.33bn.

Bitcoin’s dominance fell to a Wednesday low 57.52% before rising to a Thursday high 62.46%. At the time of writing, Bitcoin’s dominance stood at 61.73%.

This Morning

At the time of writing, Bitcoin was up by 0.12% to $13,053.0. A mixed start to the day saw Bitcoin fall to an early morning low $12,990.0 before rising to a high $13,055.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Ripple’s XRP was up by 2.19% to lead the way.

Binance Coin (+0.15%), Cardano’s ADA (+0.64%), Chainlink (+0.56%), Ethereum (+0.36%), Litecoin (+0.29%), and Polkadot (+0.44%) also found early support.

It was a bearish start to the day for the rest of the majors, however.

Bitcoin Cash SV (-1.18%) and Crypto.com Coin (-2.02%) struggled early on.

BTC/USD 26/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $13,082 to bring the first major resistance level at $13,313 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $13,300 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $13,500 before any pullback. The second major resistance level sits at $13,590.

Failure to move through the $13,082 pivot would bring the first major support level at $12,805 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$12,800 levels. The second major support level sits at $12,574.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 26th, 2020

Ethereum

Ethereum fell by 1.48% on Sunday. Reversing a 0.74% gain from Saturday, Ethereum ended the week up by 7.37% to $406.46.

A bullish start to the day saw Ethereum rise to an early morning intraday high $417.86 before hitting reverse.

Ethereum broke through the first major resistance level at $417.25 before sliding to a late afternoon intraday low $402.92.

Falling through the first major support level at $407.65, Ethereum found support to wrap up the day at $406 levels.

The second major support level at $402.73 limited the downside on the day.

At the time of writing, Ethereum was down by 0.37% to $404.94. A bearish start to the day saw Ethereum fall from an early morning high $406.60 to a low $404.34.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 26/10/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $409.08 pivot to support a run at the first major resistance level at $415.24.

Support from the broader market would be needed, however, for Ethereum to break back through to $415 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $420 before any pullback. The second major resistance level sits at $424.02.

Failure to move through the $409.08 pivot would bring the first major support level at $400.30 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level sits at $394.14.

Looking at the Technical Indicators

First Major Support Level: $400.30

Pivot Level: $409.08

First Major Resistance Level: $415.24

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 0.62% on Sunday. Partially reversing a 6.94% rally from Saturday, Litecoin ended the week up by 23.73% to $58.87.

It was a mixed start to the day. Litecoin fell to a late morning intraday low $56.56 before making a move.

Steering clear of the first major support level at $56.25, Litecoin rose to an early afternoon intraday high $59.99.

Falling short of the first major resistance level at $61.01, Litecoin fell back to sub-$59 levels and into the red.

At the time of writing, Litecoin was down by 0.54% to $58.55. A bearish start to the day saw Litecoin fall from an early morning high $58.94 to a low $58.51.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 26/10/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $58.47 pivot to support a run at the first major resistance level at $60.39.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $59.99.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Litecoin would likely test the second major resistance level at $61.90.

Failure to avoid a fall through the $58.47 pivot level would bring the first major support level at $56.96 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of sub-$55 levels. The second major support level at $55.04 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $56.96

Pivot Level: $58.47

First Major Resistance Level: $60.39

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 1.20% on Sunday. Reversing a 0.54% gain from Saturday, Ripple’s XRP ended the week up by 4.52% to $0.25323.

It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.25738 before hitting reverse.

Falling short of the first major resistance level at $0.2583, Ripple’s XRP fell to a mid-morning intraday low $0.25151.

Ripple’s XRP fell through the first major support level at $0.2535 before finding support. A recovery to $02530 levels limited the downside on the day. The first major support level pinned Ripple’s XRP back late in the day, however.

At the time of writing, Ripple’s XRP was down by 0.05% to $0.25310. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25341 before falling to a low $0.25309.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 26/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2540 pivot to support a run at the first major resistance level at $0.2566.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2550 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.2599 would likely come into play.

Failure to move through the $0.2540 pivot would bring the first major support level at $0.2507 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level sits at $0.2482.

Looking at the Technical Indicators

First Major Support Level: $0.2507

Pivot Level: $0.2540

First Major Resistance Level: $0.2566

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – October 25th, 2020

Bitcoin, BTC to USD, rose by 1.52% on Saturday. Reversing a 0.40% fall from Friday, Bitcoin ended the day at $13,127.0.

It was another mixed start to the day. Bitcoin fell to an early morning intraday low $12,882.0 before making a move.

Steering clear of the first major support level at $12,768, Bitcoin rose to a mid-afternoon intraday high $13,178.0.

Bitcoin broke through the first major resistance level at $13,062 before falling back to $13,050 levels.

Finding late support, however, Bitcoin broke back through the first major resistance level to wrap up the day at $13,100 levels.

The near-term bullish trend remained intact, supported by the latest move through to $13,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Binance Coin (-0.10%) and Cardano’s ADA (-0.17%), saw red to buck the trend on the day.

It was a bullish day for the rest of the majors, with Bitcoin Cash SV (+3.03%), Chainlink (+4.39%), and Litecoin (+6.94%) leading the way.

Bitcoin Cash ABC (+2.18%), Crypto.com Coin (+0.69%) Ethereum (+0.74%), Polkadot (+0.61%), and Ripple’s XRP (+0.54%) saw relatively modest gains on the day.

In the current week, the crypto total fell to a Tuesday low $347.73bn before surging to a Thursday high $397.6bn. At the time of writing, the total market cap stood at $392.73bn.

Bitcoin’s dominance fell to a Wednesday low 57.52% before rising to a Thursday high 62.46%. At the time of writing, Bitcoin’s dominance stood at 61.81%.

This Morning

At the time of writing, Bitcoin was down by 0.21% to $13,099.0. A bearish start to the day saw Bitcoin fall from an early morning high $13,128.0 to a low $13,099.0

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day, with Bitcoin Cash SV up by 1.64% to buck the trend early on.

It was a bearish start to the day for the rest of the majors, however.

At the time of writing, Crypto.com Coin and Litecoin were down by 2.13% and by 2.11% respectively to lead the way down.

BTC/USD 25/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $13,062 to bring the first major resistance level at $13,243 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $13,178.0.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $13,500 before any pullback. The second major resistance level sits at $13,358.

Failure to avoid a fall through the $13,062 pivot would bring the first major support level at $12,947 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$12,800 levels. The second major support level sits at $12,766.