Coinbry

  • Market Cap: $2,506,596,106,708.15
  • 24h Vol: $71,414,306,641.88
  • BTC Dominance: 50.95%
Analysis of Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), TON Crystal (TON), Chainlink (LINK), and Polygon (MATIC) Prices on 11/1

Analysis of Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), TON Crystal (TON), Chainlink (LINK), and Polygon (MATIC) Prices on 11/1

Bitcoin is currently facing a formidable obstacle at $35,000, struggling to clear it and indicating the possibility of a short-term pullback. The question on investors’ minds is whether the bullish momentum will continue and if Bitcoin can extend its recovery going forward. Bernstein predicts that Bitcoin could rally to $150,000 by 2025, with the approval of a spot Bitcoin exchange-traded fund by the SEC potentially attracting up to 10% of Bitcoin’s circulating supply.

While the long-term outlook appears bullish, there may be increased volatility in the near term. On-chain monitoring resource Material Indicators suggests that the bullish momentum is weakening, potentially leading to a retest of $33,000 before attempting $36,000.

In terms of altcoins, the charts of the top 10 cryptocurrencies are analyzed to determine their potential movements. Bitcoin’s price analysis shows that the bulls are struggling to push it above $35,280, with the RSI still in the overbought zone. The key levels to watch are $35,280 on the upside and $33,390 on the downside.

Ether has been holding above the breakout level of $1,746, but the bulls are having difficulty starting the next leg of the uptrend. The crucial level to watch is $1,746, and a break above $1,865 could lead to a surge towards $2,000.

BNB is finding it challenging to stay above $230, indicating a lack of buying interest at higher levels. The key levels to watch are $223 and the 20-day EMA ($220).

XRP broke and closed above the overhead resistance of $0.56, signaling a new up-move. The key levels to watch are $0.56 and $0.67.

Solana has been in a strong recovery, breaking above resistance levels and reaching $38.79. The key levels to watch are $38.79 and $34.

Cardano turned down from the minor resistance at $0.30, suggesting profit-booking by short-term traders. The key levels to watch are $0.28 and $0.30.

Dogecoin is struggling to sustain above the $0.07 resistance, indicating selling pressure at higher levels. The key levels to watch are $0.06 and $0.07.

Toncoin has formed a range between $1.89 and $2.31, with resistance near the upper boundary. The key levels to watch are the moving averages and $2.31.

Chainlink has been attempting to break above the overhead resistance at $11.50, but bears are active at higher levels. The key levels to watch are the 20-day EMA ($9.80) and $11.50.

Polygon tried to break above the overhead resistance of $0.66 but faced resistance from bears. The key levels to watch are $0.60 and $0.66.

In summary:

– Bitcoin is struggling to clear the hurdle at $35,000, signaling a possible short-term pullback.

– Bernstein predicts Bitcoin could rally to $150,000 by 2025.

– Volatility may increase in the near term.

– Ether, BNB, XRP, Solana, Cardano, Dogecoin, Toncoin, Chainlink, and Polygon are analyzed for potential movements.

– Key levels to watch for each cryptocurrency are highlighted.

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