During the last 24 hours, cryptocurrencies continued retracing and presenting modest losses, buyers lacking the volume to push them further up. Bitcoin (-1.26%), Ethereum (-1.86%), Ripple ( -1.15%), Bitcoin Cash (-0.97%), Bitcoin SV (-4%) denote the kind of descents that happened. Neo (+5.21%) continued its ascents, followed by Ontology (+5.26%) and VET(+5.76%) and, notably, XAS (+18%) and IRIS (15%). Among Ethereum Tokens, MOF jumped 62.12%, followed by Numeraire - NMR (65%), IOST(17.49%), and OCEAN( 16%).

Heat Map

The Crypto market cap descended 2.51% to $245.56 billion on a 17% less traded volume ($35.682 billion) in the last 24 hours. Bitcoin dominance is currently 67.39%.

 

Hot news

 On 31 October 2008, Satoshi Nakamoto released its Bitcoin paper. Bitcoin's ideas of a new financial system with no central authorities and everyone being his own bank led to the creation of a whole new industry.

The publicity department of the Central Committee of China's Communist party has released a set of 25 educational videos on Bitcoin, Ethereum, and Blockchain technology.

A bitcoin fund offered by3iQ Corp. has been approved by the Ontario Securities Commission (OSC).  The Bitcoin Fund is a closed-ended product and will be included in the Canadian Stock Exchange.

Binance US exchange will include NEO and Cosmos (ATOM). Neo is a decentralized and open-source blockchain application platform, becoming the first blockchain member to be added to Microsoft's .NET Foundation. The Cosmos blockchain platform acts as an arbitrator between different blockchain networks.

 

Technical Analysis

Bitcoin

Bitcoin Daily

On its daily chart, we can see that Bitcoin is approaching its +1SD Bollinger line and is mostly out of the oversold region. The price is held by its 200-day SMA,  and the MACD is healthy bullish. Therefore we see its daily outlook quite bullish.

The 4H chart shows the price moves between 0.38% and 0.5% retracement levels, with its volume descending. Thus, it seems the 0.5 level acts as a strong support level. The confluence of this Sudo-Fibonacci level and the $9,000 key level make us think buyers will hold this level.  The question is, how much time will it remain as is?. The obvious answer is volume: we should monitor when volume comes back as this will indicate the next leg up.

Supports  Pivot  Resistances 
8760  9,000  9580 
8300    10000 
7980    10400 

 

Ripple

Ripple

Ripple continues moving in the lower side of the range between $0.293 and 0.3065, held bu the 50-period SMA. The MACD still shows bearish bias, and the price has bounced off of the mid-Bollinger line and moves below the -1SD line. That changes a bit its short-term outlook, but the daily timeframe still shows positive signs to more upside.  But since the $0.306 level is such strong resistance, it is better to be in the sidelines until it is definitively breached.

Supports  Pivot  Resistances 
0.282  0.288  0.306 
0.277    0.31 
0.266    0.325 

 

Ethereum

Ethereum

Ethereum is following the same weakness of the Bitcoin and XRP. The price had a drop on Wednesday down to $179, bouncing from there but not able to cross the mid-Bollinger line it is moving below its -1SD line, while the traded volume keeps descending. MAC is still showing bearish bias.  The current levels to keep are $188 and $179, but we have to keep an eye on volume, as said earlier,  and, obviously, at  BTC's behavior.

Supports  Pivot  Resistances 
170  179  193 
165.7    202 
160    208 

 

Litecoin

Litecoin

Litecoin did not change much from yesterday's outlook. The price crossed the triangular formation to the downside but did not break the $57.74 level, so it basically is moving in a range. MACD is showing signs of turning up, and the small bodies shown can signal a bottoming area.

As with the rest of the coins analyzed here, we need to observe an increase in the volume and the price moving to the upper side of the Bollinger bands. The two most important levels to have an eye on are $ 61.8 and $57.74

Supports  Pivot  Resistances 
55  57.7  60 
53    61.8 
50    63.7 

 


 

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