Tag: ETH

The cryptocurrency sector has started its consolidation period after a bloodbath it experienced yesterday. The largest cryptocurrency by market cap is currently trading for $17,164, representing a decrease of 3.07 % on the day. Meanwhile, Ethereum is gaining 0.01% on the day, while XRP managed to gain 2.47%.

 Daily Crypto Sector Heat Map

SushiSwap gained 31.44% in the past 24 hours, making it the most prominent daily gainer in the top100. It is closely followed by Aave’s gain of 15.05% and Nano’s 14.68% gain. On the other hand, Crypto.com Coin lost 10.20%, making it the most prominent daily loser. NEM lost 9.92% while OMG Network lost 9.43%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has stayed at the same place as yesterday, with its value currently staying at 62.2%. This value represents a 0% difference when compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has decreased significantly over the course of the day. Its current value is $511.86 billion, representing a $48.67 billion decrease compared to our previous report.

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What happened in the past 24 hours?

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• Bitcoin price crashes to $16,350 as various derivatives positions worth billions of dollars get liquidated (The Block)
• OKEx has seen over $110m in net crypto outflows after its withdrawals reopened (The Block)
• DAI price increase led to a whopping $103 million worth of liquidations at DeFi protocol Compound (The Block)
• Crypto.com Now Allows its Customers to Pay Tax Fees in Bitcoin (Cryptobriefing)
• US Treasury Department Proposal an “Existential Threat to Bitcoin” (Cryptobriefing)
• Indian Cryptocurrency Investors Want to Clear the Fog Around Regulations (Cryptobriefing)
• Despite losing $120m in a single day, MicroStrategy is still up on its Bitcoin investment (Cryptoslate)
• Yes, You Can Now Spend Your Bitcoin This Black Friday (Coindesk)
• Previously Unpublished Emails of Satoshi Nakamoto Present a New Puzzle (Coindesk)
• Bitcoin’s price correction may not be over yet, on-chain data analysts warn (Cointelegraph)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has triggered a rally towards the downside after creating a double top, which brought its price as low as $16,215. While some analysts say that the downturn is not over yet, Bitcoin has recovered slightly and is now consolidating just above the $17,000 mark.

While shorting Bitcoin could be a good profit-making opportunity if the downtrend continues, trading against the long-term trend is very risky. However, thinking about hedging against any downturns should be considered.

BTC/USD 1-hour Chart

Bitcoin’s daily and weekly technicals are tilted towards the buy-side and show no signs of neutrality. On the other hand, its monthly technicals show some signs of neutrality, while its 4-hour technicals are completely bearish.

BTC/USD 1-day Technicals

Technical factors (1-hour Chart):

• Price is far below its 50-period EMA and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (44.33)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $17,450                                 1: $17,000

2: $17,850                                 2: $16,800

3: $18500                                   3: $16,350

Ethereum

Ethereum has experienced the same chain of events Bitcoin did in the past day or so. The downtrend ended up bringing Ethereum’s price back to as low as $480 before recovering. However, Ethereum’s ascending channel (yellow dotted) top line has stayed strong and triggered a mini-rally, which then brought the price above the red ascending line as well. Ethereum is now consolidating at around $515.

Ethereum’s current fundamental outlook is very bullish, but (as we said in our previous articles) any sharp move to the downside triggered by Bitcoin will affect Ethereum in a major way as well. This makes trading up hard, as one needs to constantly check Bitcoin’s price as well.

ETH/USD 1-hour Chart

Ethereum’s daily, weekly, and monthly technicals are completely bullish and show no or just slight neutrality signs. On the other hand, its sentiment seen in the 4-hour time-frame’s is completely bearish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is far below its 50-period and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (44.53)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $600                                     1: $510

2: $630                                     2: $500 

3: $735                                      3: $490

Ripple

The fourth-largest cryptocurrency by market cap has posted lower highs three times in a row, with its lows testing the $0.625 support level each time the price went down. However, the third time XRP went towards this level, Bitcoin’s push towards the downside triggered XRP bears, which took over the market. The downturn ended at the $0.475 level, which held up quite nicely. XRP is now trading in the middle of a range, bound by $0.475 to the downside and $0.625 to the upside.

Trading XRP may not be optimal at the moment as trading Bitcoin is both potentially more profitable and a bit more straightforward.

XRP/USD 1-hour Chart

XRP’s technicals on all time-frames are bullish, with its daily time-frame being the only one not showing any signs of neutrality. The other time-frames show either slight neutrality or even slight bearishness.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is slightly below its 50-period EMA and at its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (48.78)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $0.625                                   1: $0.475

2: $0.79                                     2: $0.443

3: $0.963                                  3: $0.4

 

The cryptocurrency sector has ended the day in the red as Bitcoin failed to stay above $19,000 and even falling below $18,000 as bears took control of the market. The largest cryptocurrency by market cap is currently trading for $17,000, representing a decrease of 10.67%% on the day. Meanwhile, Ethereum is losing 15.34% on the day, while XRP lost 16.88%.

 Daily Crypto Sector Heat Map

Zilliqa 23.75% in the past 24 hours, making it the most prominent daily gainer in the top100. It is closely followed by Horizen’s gain of 18.71% and Elrond’s 11.54% gain. On the other hand, Verge lost 24.86%, making it the most prominent daily loser. Kusama lost 15.78% while Reserve Rights lost 13.81%, making them the 2nd and 3rd most prominent daily losers.

 

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has increased over the day, with its value currently staying at 62.2%. This value represents a 0.6% difference to the upside compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has decreased over the course of the day. Its current value is $560.17 billion, representing an $11.36 billion decrease compared to our previous report.

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What happened in the past 24 hours?

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• Binance’s trading volume reaches $132 billion for November, a new monthly high (The Block)
• Google search interest in Ethereum hits highest point since February 2018 (The Block)
• Grayscale’s Bitcoin Cash and Litecoin products are trading at premiums of more than 1,000% (The Block)
• VanEck Europe Launches ETF-Like Bitcoin Product (Cryptobriefing)
• Stellar Lumens’ 170% Bull Rally May Have Just Run Out of Steam (Cryptobriefing)
• eBay Shoppers Can Now Earn Free Bitcoin This Christmas (Cryptobriefing)
• Bitcoin Headlines Sour as Leading Cryptocurrency Corrects (Cryptobriefing)
• What makes the crypto market’s rise to $500 billion different from 2017? (Cryptoslate)
• Bitcoin has been massively outperforming gold in November—but why? (Cryptoslate)
• PayPal suspends user for crypto trading using PayPal’s own service (Cointelegraph)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has created a double top, which triggered a pullback from the recent highs. Not only has the price retraced to the sub-$19,000 level, but it has also broken the $18,500 support level. The price will most likely end up below the $17,850 level, as the market is calling for a pullback for quite some time. However, if the market recovers, we can expect the price to end up between $17,850 and $18,500.

While shorting Bitcoin might be a good profit-making opportunity at the moment, trading against the long-term trend is extremely risky. However, thinking about hedging versus any downturns might be a good option at the moment.

BTC/USD 1-hour Chart

Bitcoin’s 4-hour, daily, and weekly technicals are heavily tilted towards the buy-side and show no signs of neutrality or bearishness. On the other hand, its monthly technicals are showing some signs of neutrality.

BTC/USD 1-day Technicals

Technical factors (1-hour Chart):

• Price is far below its 50-period EMA and its 21-period EMA
• Price slightly below its lower Bollinger band
• RSI is extremely oversold (23.98)
• Volume is average (one candle spike)

Key levels to the upside          Key levels to the downside

1: $18500                                  1: $17,850

2: $19000                                  2: $17,450

3: $19500                                   3: $17,000

Ethereum

While Ethereum did follow Bitcoin to the downside, both in price direction and severity of the move, the situation doesn’t look that bad. The second-largest cryptocurrency by market cap has started its pullback after failing to stay above $600, culminating in a full-blown dump from $570 to $505. However, the ascending (red) line held up, and ETH reclaimed previous levels and is currently consolidating around $530.

Ethereum’s current outlook is very bullish, but any sharp move to the downside coming from Bitcoin will affect it in a major way. Traders should pay close attention to Bitcoin’s moves if they want to trade Ether.

ETH/USD 1-hour Chart

Ethereum’s technicals are a bit confusing, as its daily and monthly overviews are completely bullish, while its weekly overview shows slight signs of neutrality. Its 4-hour technicals, however, are pointing towards the sell-side.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is below both its 50-period and its 21-period EMA
• Price is below its bottom Bollinger band
• RSI is extremely oversold (19.47)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $600                                     1: $510

2: $630                                     2: $500 

3: $735                                      3: $490

Ripple

The fourth-largest cryptocurrency by market cap has performed similarly to the aforementioned two cryptocurrencies. XRP has posted lower highs three times in a row while testing the $0.625 support level each time. However, the last time XRP went towards this level, bears took over and pushed the price further down. XRP bears have seemingly reached exhaustion, and the cryptocurrency is now consolidating around the $0.575 level.

Trading XRP is not advised as trading Bitcoin is (at the moment) both potentially more profitable and more straightforward.

XRP/USD 1-hour Chart

XRP’s technicals on all time-frames are tilted towards the buy-side, with its daily overview being the most bullish time-frame. Its other time-frames show signs of neutrality or even slight bearishness.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is far below both its 50-period EMA and its 21-period EMA
• Price is slightly below its bottom Bollinger band
• RSI is close to being oversold (31.85)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.625                                   1: $0.475

2: $0.79                                     2: $0.443

3: $0.963                                  3: $0.4

 

The cryptocurrency sector has spent the day pushing towards the upside as Bitcoin rallied and reached past $19,000. The largest cryptocurrency by market cap is currently trading for $19,093, representing an increase of 4.37% on the day. Meanwhile, Ethereum lost 0.55% on the day, while XRP gained 14.94%.

 Daily Crypto Sector Heat Map

Verge 63.06% in the past 24 hours, making it the most prominent daily gainer in the top100. It is closely followed by Stellar’s gain of 59.30% and Status’s 31.14% gain. On the other hand, Bitcoin Gold lost 16.21%, making it the most prominent daily loser. SushiSwap lost 12.05% while Balancer lost 7.89%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has increased over the course of the day, with its value is currently staying at 61.06%. This value represents a 1% difference to the upside compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased slightly over the course of the day. Its current value is $571.53 billion, representing an $8.86 billion increase compared to our previous report.

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What happened in the past 24 hours?

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• Ripple’s Rise Short-Lived as XRP Holders Rush to Exchanges (Cryptobriefing)
• Coinbase Ends Margin Trading In Response to CFTC Regulations (Cryptobriefing)
• Bitcoin has been massively outperforming gold in November—but why? (Cryptoslate)
• Major announcements on Cardano will take place by the end of the year (Cryptoslate)
• Binance is now blocking users ‘identified as a US person’ with a 14-day deadline (The Block)
• Korean lawmakers propose delaying crypto tax rule to January 2022 (The Block)
• Nigeria is establishing a framework for nation-wide crypto adoption (Cointelegraph)
• Stellar Lumens doubles in price following upgrade (Cointelegraph)
• Yearn Finance absorbs Pickle to boost DeFi rewards (Cointelegraph)
• In Her Own Words: Here’s What Janet Yellen Has Said About Bitcoin (Coindesk)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has had an exciting day as its price reached past the $18,500 mark and pushed towards its all-time highs. Bitcoin managed to get to $19,450 before the momentum started dying off. It is currently consolidating just at the $19,000 mark, fighting to stay above it. This move was enabled by a booming altcoin situation, which led to a money pour-over into Bitcoin.

Any trading to the downside is completely irresponsible now due to how Bitcoin is moving. On the other hand, its movement towards the upside is very hectic, and traders should pay attention to when they enter and exit trades. If Bitcoin establishes its presence above the $19,000 mark with confidence, another push that might break the $20,000 all-time high level is entirely possible.

BTC/USD 2-hour Chart

Bitcoin’s technicals are tilted to the bull-side slightly, with only the weekly time-frame being completely bullish. In contrast, its other time-frames contain a hint of neutrality or even bearishness.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and at its 21-period EMA
• Price slightly above its middle Bollinger band
• RSI is neutral (55.57)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $19000                                  1: $18500

2: $19500                                  2: $17,850

3: $19,666                                  3: $17,450

Ethereum

Ethereum’s parabolic move, which brought its price from $480 to $625, has seemingly ended, and Ethereum has entered a consolidation/retracement phase. While it was uncertain whether the second-largest cryptocurrency by market cap will stay above $600, the fight for the level has ended, and ETH moved back below it.

Ethereum has a very strong zone of resistance above $600 and all the way up to $632. On the other hand, it has a decently strong support zone at $575-$580. We can expect Ethereum to move in that range in the short-term unless a new breakout occurs.

ETH/USD 2-hour Chart

Ethereum’s technicals are tilted to the bull-side slightly, with only the monthly time-frame being completely bullish. In contrast, its other time-frames contain slight neutrality or even bearishness.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and slightly below its 21-period EMA
• Price is near its bottom Bollinger band
• RSI is neutral (50.82)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $600                                     1: $510

2: $630                                     2: $500 

3: $735                                      3: $490

Ripple

The fourth-largest cryptocurrency by market cap’s controversial parabolic rise has died down and actually kept most of its gains. XRP has moved back from its recent highs of $0.78 (and even $0.9 on some exchanges) to a steadier $0.68, which is its current price. We can also see that XRP made a double top at the $0.735 mark, as well as a double bottom at the $0.625 support level.

Trading XRP is more manageable now as the volatility has died down, and the zones of support/resistance have been established. However, trading crypto overall is extremely risky at the moment, and only moves to the upside (and possibly sideways movement) should be traded.

XRP/USD 2-hour Chart

XRP’s 4-hour and daily overviews are completely bullish and show no signs of neutrality whatsoever, while its weekly and monthly overviews show slight neutrality or even a hint of bearishness.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is far above its 50-period EMA and slightly above its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (59.98)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.79                                     1: $0.625 

2: $0.963                                   2: $0.475

3: $1.01                                    3: $0.443

 

The cryptocurrency sector has spent been in the green overall, with Bitcoin consolidating and altcoins booming. The largest cryptocurrency by market cap is currently trading for $18,364, representing a decrease of 0.36% on the day. Meanwhile, Ethereum gained 4.23% on the day, while XRP gained a whopping 54.14%.

 Daily Crypto Sector Heat Map

Stellar 61.98% in the past 24 hours, making it the most prominent daily gainer in the top100. It is closely followed by XRP’s gain of 52.19% and Verge’s 37.77% gain. On the other hand, SushiSwap lost 11.14%, making it the most prominent daily loser. Quant lost 9.44% while Nexo lost 8.27%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has reduced drastically over the course of the day, with its value is currently staying at 60.06%. This value represents a 2.6% difference to the downside compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased significantly over the course of the day. Its current value is $562.75 billion, representing a $21.04billion increase compared to our previous report.

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What happened in the past 24 hours?

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• Eth2 deposit contract passes threshold needed for Phase 0 to launch on December 1 (The Block)
• The IRS is mistakenly sending warning notices to Coinbase users (The Block)
• Aggregated open interest on Bitcoin, Ethereum options hit all-time highs this weekend (The Block)
• JPMorgan reports ‘modest outflows’ for gold funds as more than $1 billion poured into Grayscale in Q3 (The Block)
• Cardano Makes New Yearly Highs While Technicals Warn of Potential Correction (Cryptobriefing)
• PayPal Follows Bitcoin Startups, Laying Foundation for Crypto Payments (Cryptobriefing)
• Aquaculture Firm Completes Australia’s First IPO Raise Using Cryptocurrency (Coindesk)
• PayPal CEO Schulman Say He’s Bullish on Bitcoin as a Currency (Coindesk)
• XRP price rallies 91% in a month due to 3 fundamental factors (Cointelegraph)
• Crypto users speak out on proposed change to FinCEN Travel Rule (Cointelegraph)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has stayed pretty stable today as it couldn’t break the $18,500 mark. The price has been hovering right under the level for the whole day, and even made a couple of attempts to break it but to no avail. On the other hand, this small zone of resistance and support wasn’t broken to the downside either, as a break below $18,270 could spell a retracement.

This is a prime example of uncertainty due to Bitcoin’s current level (some are taking profits while some are investing). However, trading pullbacks in a bull trend is extremely risky and should be avoided.

BTC/USD 4-hour Chart

Bitcoin’s technicals are divided, with its daily and monthly overviews showing a slight hint of bearishness alongside the bullishness that overwhelms it. In contrast, the 4-hour and weekly overviews are completely bullish.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (53.88)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $18500                                  1: $17,850

2: $19000                                  2: $17,450

3: $19500                                   3: $17,130

Ethereum

With Ethereum’s 2.0 version 0 launch approaching, Ethereum has continued to increase in price. Today’s move was a continuation of the uptrend that started on Nov 0, additionally fueled by the announcement that the deposits required for Ethereum’s 2.0 version 0 to launch have passed the threshold. This news is a big sigh of relief for the ETH devs, as they were wondering if the protocol will reach its goal on time for the Dec 1 launch. This extremely bullish news has pushed Ethereum past $600, which it is now testing.

If Ethereum manages to successfully stay above $600, it will have very little resistance to the upside and basically trade only versus profit-taking sellers.

ETH/USD 1-hour Chart

Ethereum’s 4-hour and monthly time-frames are completely bullish, while its daily and weekly time-frames are slightly more tilted towards the neutral position.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is far above its 50-period and slightly above its 21-period EMA
• Price is between its middle and top Bollinger band
• RSI is coming out of the overbought territory (59.88)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $600                                     1: $510

2: $630                                     2: $500 

3: $735                                      3: $490

Ripple

The fourth-largest cryptocurrency by market cap has exploded to the upside and reached over $0.90 on the US cryptocurrency exchange Coinbase only to crash back down by roughly 30% in mere seconds. This was its highest price since May 2018. The rally was apparently driven by the Coinbase users as XRP did not see the same heights on any other exchange. Bitstamp and Binance saw a high of only $0.79.

Analysts believe that this rally is a culmination of an uptrend triggered in late Oct when an anonymous whale sent an astonishing $50 million worth of XRP at the time to Bitstamp. Ever since then, XRP/USD has been seeing a strong uptrend, up by 128.63% in the past week.

Trading XRP is simply impossible at the moment due to the amount of risk associated with this type of volatility.

XRP/USD 1-hour Chart

XRP’s 4-hour and weekly overviews are completely bullish and show no signs of neutrality, while its daily and monthly overviews show slight neutrality or even slight bearishness.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and at its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (53.65)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.79                                     1: $0.625 

2: $0.963                                   2: $0.475

3: $1.01                                    3: $0.443

 

The cryptocurrency sector has spent the weekend being quite volatile as Bitcoin had a flash crash, which brought its price below $18,000, followed by a rally that brought it back above it. The largest cryptocurrency by market cap is currently trading for $18,461, representing an increase of 0.61% on the day. Meanwhile, Ethereum skyrocketed by gaining 8.13% on the day, while XRP gained 0.09%.

 Daily Crypto Sector Heat Map

Waves 38.43% in the past 24 hours, making it the most prominent daily gainer in the top100. It is closely followed by Horizen’s gain of 31.65% and Numeraire’s 21.56% gain. On the other hand, Terra lost 5.45%, making it the most prominent daily loser. HedgeTrade lost 3.22% while Crypto.com Coin lost 1.65%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has reduced drastically over the course of the weekend, with its value is currently staying at 63.2%. This value represents a 2.9% difference to the downside compared to the value it had on Friday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased significantly over the course of the weekend. Its current value is $541.71 billion, representing a $34.48 billion increase compared to our previous report.

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What happened in the past 24 hours?

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• Analyst who predicted Bitcoin rally to $18,000 begins to build a short position (Cryptoslate)
• Bitcoin Is Now Better Money Than Many Emerging Market Currencies (Cryptobriefing)
• Bitcoin Will Replace Gold, Says World’s Largest Asset Firm BlackRock (Cryptobriefing)
• Circle Using USDC Stablecoin to Aid Venezuela Crisis (Cryptobriefing)
• US bank regulator unveils push to compel banks to provide fairer access to banking services (The Block)
• Visa and Mastercard run ‘enhanced diligence’ on crypto card issuers (The Block)
• China’s Xi calls for G20 to adopt ‘open and accommodating attitude’ on CBDCs (The Block)
• Bitcoin Shortage? Pantera Thinks Market Rally Driven by PayPal Buys (Coindesk)
• Privacy coins no more? CipherTrace files patents for tracing Monero transactions (Cointelegraph)
• Van Eck declares Bitcoin ‘less volatile than many’ stocks (Cointelegraph)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has spent the weekend with decently high volatility as its price managed to go from above $18,500 to $17,600 and then back above $18,500 in just one day. While this “flash crash” is behind Bitcoin, the bulls seem to be more and more wary of the new highs, and a retracement before another push towards the upside is quite possible.

Due to many people taking profits and shorting Bitcoin to hedge their portfolios, the largest currency has a hard time going up. However, trading pullbacks in a bull trend is equally as risky. Bitcoin traders would have the most chance of succeeding if they traded only long positions.

BTC/USD 2-hour Chart

Bitcoin’s technicals are semi-divided, with its daily and monthly overviews showing a slight bullish tilt with signs of bears still present. In contrast, the 4-hour and weekly overviews show no signs of bearish presence and are completely bullish.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (51.42)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $18500                                  1: $17,850

2: $19000                                  2: $17,450

3: $19500                                   3: $17,130

Ethereum

Ethereum’s 2.0 version 0 launch is approaching, and Ethereum bulls seem to be back in the game. The second-largest cryptocurrency by market cap broke out of the ascending (red) line and pushed towards the upside, eyeing the $600 resistance level. While the rally was strong, Ethereum bulls started showing exhaustion at $580. With that being said, the move is still not considered over, and there is more opportunity to the upside.

We mentioned on Friday that Ethereum’s downside is quite defined, but that its upside isn’t. With ETH entering territory that was explored only a couple of times, the opportunity for volatility (but also slippage) is increasing.

ETH/USD 4-hour Chart

Ethereum’s 4-hour and daily time-frames are completely bullish, while its longer time-frames (weekly and monthly) are slightly more tilted towards the neutral position.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is far above both its 50-period and its 21-period EMA
• Price is at its top Bollinger band
• RSI is extremely overbought (72.01)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $600                                     1: $510

2: $630                                     2: $500 

3: $735                                      3: $490

Ripple

The fourth-largest cryptocurrency by market cap has, just like Ethereum, had quite an amazing weekend. XRP continued its rally to the upside that began on Nov 20 and reached as high as $0.49 before starting to consolidate. While consolidating, it has seemingly created a triangle formation that should keep its price at bay before ~80% of the formation is done.

While it is quite unknown how XRP will act right now, all chances are that it will stay within the triangle formation’s bounds for some time, at least.

XRP/USD 1-hour Chart

XRP’s daily and weekly overviews are completely bullish and show no signs of neutrality, while its 4-hour and monthly overviews show slight neutrality.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and at its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (53.65)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.476                                   1: $0.3328 

2: $0.509                                   2: $0.3244

3: $0.792                                  3: $0.31

 

The cryptocurrency sector has ended up with the majority of cryptos in the green as Bitcoin continued its rally past $18,000. The largest cryptocurrency by market cap is currently trading for $18,095, representing an increase of 1.31% on the day. Meanwhile, Ethereum gained 1.59% on the day, while XRP gained 2.42%.

 Daily Crypto Sector Heat Map

SushiSwap 31.66% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization yet again today. It is closely followed by Waves’ gain of 21.42% and CyberVein’s 17.06% gain. On the other hand, Blockstack lost 8.00%, making it the most prominent daily loser. NEM lost 7.73% while ABBC Coin lost 6.77%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has reduced slightly over the course of the day, with its value is currently staying at 66.1%. This value represents a 0.2% difference to the downside when compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased over the course of the day. Its current value is $507.23 billion, representing a $12.16 billion increase compared to our previous report.

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What happened in the past 24 hours?

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• Outgoing SEC Chair Jay Clayton reveals the main driver for the rise of BTC (Cointelegraph)
• Lightning Network’s New Liquidity Marketplace Attracts a ‘Surprising’ Mix of Individuals, Enterprises (Coindesk)
• Bitcoin (BTC) pump to $18k pushes miner revenues to pre-halving levels (Cryptoslate)
• Uniswap (UNI) liquidity falls 50% as incentives end, funds flow to Sushiswap (SUSHI) (Cryptoslate)
• yEarn.Finance Ready to Pullback Following 240% Bull Rally (Cryptobriefing)
• Binance Controls the Only Major Pool Rejecting Bitcoin’s Taproot Update (Cryptobriefing)
• The IRS is weighing different approaches to cryptocurrency taxation, says Treasury official (The Block)
• SEC issues no-action letter to a social media company for its planned Ethereum token (The Block)
• Crypto’s most prominent options traders are taking advantage of a new market anonymity tool (The Block)
• The European Commission is seeking advice for a public-sector blockchain (The Block)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has spent the past 24 hours pushing towards and past the $18,000 level after it has won the fight for $17,850. While the move was quite sudden at one point, it was actually not accompanied by a great increase in volume. This has ultimately caused BTC to end its move slightly above $18,200 and start its consolidation phase.

Due to many people taking profits and shorting to hedge their portfolios, Bitcoin has a hard time going up. However, trading pullbacks is equally as risky. Bitcoin traders would have the most chance of success if they traded only pushes to the upside, accompanied by a decent volume increase.

BTC/USD 1-hour Chart

Bitcoin’s technicals on the 4-hour, daily, and monthly time-frame are all bullish but show some signs of neutral presence. On the other hand, its weekly overview is tilted towards the buy-side and doesn’t show any bearishness.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and its 21-period EMA
• Price is near its top Bollinger band
• RSI is neutral (57)
• Volume is slightly below average

Key levels to the upside          Key levels to the downside

1: $18500                                  1: $17,850

2: $19000                                  2: $17,450

3: $19500                                   3: $17,130

Ethereum

Our yesterday’s call for Ethereum traders was that they should wait for the cryptocurrency to confirm its support level or fall under it, and then trade “with the wave.” Ethereum confirmed its position above the yellow dotted line (top line of the ascending channel) and pushed up instantly. The move brought Ether from $470 all the way to $488 before slowing down and starting to consolidate.

While Ethereum’s downside is quite defined, its upside isn’t. Traders should be wary of Ether’s future pushes to the upside, while they should trade any pullback from the retest of the yellow line.

ETH/USD 1-hour Chart

Ethereum’s 4-hour, daily and monthly time-frames are extremely bullish and show no signs of neutrality or bearishness. On the other hand, its weekly overview is still titled to the bull side but does show significant neutrality.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• Price is near its top Bollinger band
• RSI is neutral after bouncing from almost being overbought(59.32)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $490                                     1: $470

2: $500                                     2: $451 

3: $510                                      3: $445

Ripple

The fourth-largest cryptocurrency by market cap has spent the day breaking out of its slow price descent and pushing towards the upside. XRP first changed its price direction at $0.284 and quickly pushed towards the upside, reaching as high as $0.306. However, that price did not hold up, and XRP started trading sideways around the $0.3 mark.

XRP traders should still be safe to trade within the range bound by $0.2855 and $0.31. However, since the range is quite large, traders would be even better if they could spot additional small buy/sell walls in the order books before blindly trading.

XRP/USD 1-hour Chart

XRP’s daily and weekly overviews are completely bullish and show no signs of neutrality, while its 4-hour and monthly overviews show slight neutrality.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and at its 21-period EMA
• Price is near its middle Bollinger band
• RSI is neutral (53.74)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.28 

2: $0.3244                                 2: $0.27

3: $0.3328                                3: $0.266

 

The cryptocurrency sector has spent the day trying to consolidate after Bitcoin finished its rally. However, while most cryptocurrencies moved less than 1%, almost every one of them ended up in the red. The largest cryptocurrency by market cap is currently trading for $17,708, representing a decrease of 0.73% on the day. Meanwhile, Ethereum lost 0.49% on the day, while XRP lost 1.53%.

 Daily Crypto Sector Heat Map

OKB gained 17.77% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization yet again today. It is closely followed by yearn.finance’s gain of 12.48% and SushiSwap’s 11.73% gain. On the other hand, Band Protocol lost 10.00%, making it the most prominent daily loser. Ampleforth lost 9.81% while Aragon lost 7.26%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has stayed at exactly the same place over the course of the day, with its value is currently staying at 66.3%. This value represents no difference when compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has stayed at the same place over the course of the day. Its current value is $495.07 billion, representing a $3.01 billion decrease compared to our previous report.

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What happened in the past 24 hours?

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• Bank of England’s chief economist: digital currencies may mitigate the need for negative interest rates (The Block)
• Will Eth2’s Phase 0 launch happen on December 1? Polymarket betters say no (The Block)
• The Interchange: MicroStrategy’s first mover advantage into bitcoin as corporate treasury is already demonstrating eye-watering results (The Block)
• Bitcoin ETP volumes surge as institutions jump into the BTC bull run (Cryptoslate)
• This crypto fund just bought $10m in Chainlink (LINK) during last night’s flash dip (Cryptoslate)
• XRP Set to Stage Comeback, 60% Breakout in the Works (Cryptobriefing)
• Binance Sues Forbes and Two Journalists Citing “Millions of Dollars” in Damages (Cryptobriefing)
• OKEx Token Rallies on Rumors Founder Xu Released From Custody (Coindesk)
• Survey of millionaires finds 73% own or want to invest in crypto (Cointelegraph)
• Bitcoin mining revenue hits yearly high, after return to pre-halving levels (Cointelegraph)

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Technical analysis

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Bitcoin

While it may seem that Bitcoin has had a pretty slow and uneventful day, that is certainly not the case. The largest cryptocurrency by market cap has spent the past 24 hours fighting for the $17,850 level and constantly going over and under it. However, the battle is finished, and BTC remains below $17,850 for the time being.

Many traders and analysts are warning BTC traders of a potential triangle formation forming. They also advise traders to refrain from trading until BTC chooses a clear direction.

BTC/USD 1-hour Chart

Bitcoin’s technicals on the daily, weekly, and monthly time-frame are all bullish but show signs of neutral presence. On the other hand, its 4-hour overview is tilted towards the buy-side and doesn’t show any bearishness.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is slightly above its 50-period EMA and below its 21-period EMA
• Price is slightly below its middle Bollinger band
• RSI is neutral (44.71)
• Volume is slightly below average

Key levels to the upside          Key levels to the downside

1: $18500                                  1: $17,850

2: $19000                                  2: $17,450

3: $19500                                   3: $17,130

Ethereum

Ethereum has established itself above the top line of the ascending channel (yellow dotted line) and is now trading within a new range, bound by the yellow line as support and a new ascending trend line as resistance. Ethereum’s price seems to be in a correction phase at the moment, so we can expect a retest of the yellow line as well as a possible sharp move afterward.

Ethereum traders should wait for the cryptocurrency to confirm its support level or fall under it, and then trade “with the wave.”

ETH/USD 1-hour Chart

Ethereum’s time-frames are slightly tilted towards the buy-side, with its daily overview showing slight bear presence, while its 4-hour and weekly overviews are showing slight neutrality. On the other hand, its monthly overview is completely bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is below both its 50-period and its 21-period EMA
• Price is between its middle and bottom Bollinger band
• RSI is neutral (41.77)
• Volume is slightly below average

Key levels to the upside          Key levels to the downside

1: $490                                     1: $470

2: $500                                     2: $451 

3: $510                                      3: $445

Ripple

The fourth-largest cryptocurrency by market cap had another day of slowly marching towards the downside. However, the extremely low volume may be suggesting that the current price movement is a “calm before the storm,” and that a new big move is coming. Analysts are calling for another push towards the upside. Still, a move down is just as likely with the current state of the sector (the crypto sector is currently in a consolidation/correction phase).

XRP/USD 1-hour Chart

XRP’s daily and weekly overviews are completely bullish and show no signs of neutrality or bearishness. On the other hand, its 4-hour and monthly overviews show slight neutrality.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is below both its 50-period EMA and its 21-period EMA
• Price is slightly below its middle Bollinger band
• RSI is pushing towards being oversold (39.45)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.28 

2: $0.3244                                 2: $0.27

3: $0.3328                                3: $0.266

 

The cryptocurrency sector has spent the day mostly stable and looking at Bitcoin as it kept pushing towards highs unseen after the bull run of late 2017. The largest cryptocurrency by market cap is currently trading for $17.829, representing an increase of 6.64% on the day. Meanwhile, Ethereum gained 2.00% on the day, while XRP lost 1.90%.

 Daily Crypto Sector Heat Map

Nexo gained 14.37% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization yet again today. It is closely followed by Bitcoin Gold’s gain of 10.84% and DigiByte’s 9.52% gain. On the other hand, SushiSwap lost 12.92%, making it the most prominent daily loser. Curve DAO Token lost 10.74% while HedgeTrade lost 10.07%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has skyrocketed over the course of the day, with its value is currently staying at 66.3%. This value represents a 1.4% difference to the upside compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up quite a bit over the course of the day. Its current value is $498.06 billion, representing a $20.84 billion increase compared to our previous report.

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What happened in the past 24 hours?

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• Crypto-Friendly Brooks Gets Nod to Serve 5-Year Term Leading Bank Regulator (Coindesk)
• Bulk preorders for the latest bitcoin ASIC miners are sold out until next spring (The Block)
• Bitstamp seeks court approval to subpoena Citibank, Bank of America as part of a spat with former payment processor (The Block)
• Bitcoin derivatives market breaks new highs amid heightened price action (The Block)
• “I Might Be Missing Something,” Says Billionaire Bitcoin Bear Ray Dalio (Cryptobriefing)
• FTX Traders Say Democrats Have 23% of Winning the Senate in January (Cryptobriefing)
• How Microstrategy CEO Turned “Scary” Bitcoin Investment Into More Than $250 Million (Cryptobriefing)
• This Ethereum-based DeFi token is up 3,000% in the past week alone (Cryptoslate)
• Mexico’s second-richest man invests 10% of his liquid portfolio in BTC (Cointelegraph)
• Not dead yet: Bitcoin Cash ABC is up 70% as Sechet releases new client (Cointelegraph)

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Technical analysis

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Bitcoin

Bitcoin has had a parabolic run to the upside, reaching as high as $18,500 before dropping down. While the price gain was gradual at first, Bitcoin’s final push from $17,600 to $18,500 and then back to nearly $17,000 happened in just a couple of hours. This volatility came to be because BTC encountered heavy resistance at the now-confirmed $18,500 resistance level. Many traders call this move just a temporary pullback before a new high, while a minority is calling a short-term top.

Trading Bitcoin on a bull trend such as this one should only happen in one direction, and that is WITH the trend. Shorting Bitcoin and attempting to catch pullbacks will be far less lucrative due to the size of the move, as well as much riskier.

BTC/USD 1-hour Chart

Bitcoin’s technicals on the 4-hour, daily, and weekly time-frame are all completely bullish and show no signs of bear or neutral presence. On the other hand, its monthly overview is tilted towards the buy-side just slightly and does show some bearishness.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far above its 50-period EMA and above its 21-period EMA
• Price is between its middle and top Bollinger band
• RSI is stabilizing after leaving the overbought territory (61.38)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $18500                                  1: $17,850

2: $19000                                  2: $17,450

3: $19500                                   3: $17,130

Ethereum

Ethereum had had a turbulent 24 hour period, as its price went from fighting for and hovering over the top line of the ascending channel all the way to $495 and then back to $455 before it stabilized at around $475. This move has clearly shown the market another ascending line (red) formed on the ETH/USD chart, which has been tested a couple of times already. This line is Ethereum’s final resistance towards $500.

Ethereum should, as most cryptos at the moment, be traded only to the upside, as trading its pullbacks during a bull market is simply not worth it.

ETH/USD 2-hour Chart

Ethereum’s weekly time-frame shows some neutrality alongside its overall bullish stance, while the other time-frames show complete bullishness.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (55.77)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $490                                     1: $470

2: $500                                     2: $451 

3: $510                                      3: $445

Ripple

The fourth-largest cryptocurrency by market cap started off the day by pushing towards the upside and almost reaching its $0.31 resistance level. However, the bears have stepped in and brought XRP’s price down to $0.28 before consolidating in the middle of the range between the two aforementioned levels.

If Bitcoin doesn’t make another sharp move in the short-term, XRP is (yet again) sideways-action crypto. However, if BTC moves, it’s safest to watch Bitcoin and trade along with the bullish moves while discarding the bearish entries.

XRP/USD 4-hour Chart

XRP’s 4-hour, daily, and weekly technicals are tilted towards the buy-side, and while they aren’t showing signs of neutrality, the bullish sentiment isn’t as strong either. The monthly overview does, on the other hand, show clear signs of neutrality.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (54.33)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.28 

2: $0.3244                                 2: $0.27

3: $0.3328                                3: $0.266

 

The cryptocurrency sector has spent the day trying to reach past its recent highs as Bitcoin pushed past $16,500. The largest cryptocurrency by market cap is currently trading for $16,718, representing an increase of 2.97% on the day. Meanwhile, Ethereum gained 2.34% on the day, while XRP gained an astonishing 10.46%.

 Daily Crypto Sector Heat Map

Curve DAO Token gained 14.27% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization yet again today. It is closely followed by yearn.finance’s gain of 12.92% and Litecoin’s 10.99% gain. On the other hand, THORChain lost 7.28%, making it the most prominent daily loser. The Midas Touch Gold lost 6.16% while Uniswap lost 4.22%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has decreased slightly over the course of the day, with its value is currently staying at 64.9%. This value represents a 0.1% difference to the downside compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up very slightly over the course of the day. Its current value is $477.28 billion, representing a $13.89 billion increase compared to our previous report.

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What happened in the past 24 hours?

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• SEC chairman Jay Clayton is stepping down, months ahead of his scheduled departure (The Bloick)
• Grayscale now holds half a million Bitcoin (Cointelegraph)
• Why this Wall Street fund quietly signaled its intention to invest in Bitcoin (Cryptoslate)
• Intercom co-founder jumps onto the “Bitcoin wagon,” encourages others (Cryptoslate)
• Why a Citibank analyst is calling a $318k target for Bitcoin (Cryptoslate)
• Crypto Community Rejoices as SEC Chairman Steps Down (Cryptobriefing)
• Bitcoin Eyes New Yearly Highs, Buy Pressure Skyrockets (Cryptobriefing)
• Ethereum Bulls Facing Stiff Resistance Despite ETH 2.0 Fervor (Cryptobriefing)
• Decentralized exchange Uniswap’s liquidity mining rewards program ends (The Block)
• Origin Protocol Loses $7M in Latest DeFi Attack (Coindesk)
• Yield-generating stablecoin project Origin Dollar exploited for $7M (Cointelegraph)

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Technical analysis

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Bitcoin

After confirming its stance above $16,000 after fighting for it over the weekend, the largest cryptocurrency by market capitalization pushed towards $16,500 and attempted to reach new highs. The push was strong as there was no real sell pressure, so Bitcoin reached past $16,500 (and eventually past $16,700) without any real increase in volume. While the $16,500 position has been successfully tested once, the $16,700 level is still not completely won.

Trading Bitcoin on a bull trend such as this one should only happen in one direction: WITH the trend. Shorting Bitcoin and trying to catch pullbacks will be less lucrative due to the size of the move, as well as riskier due to the market sentiment.

BTC/USD 4-hour Chart

Bitcoin’s technicals are tilted towards the buy-side on all four time-frames (4-hour, daily, weekly, and monthly). However, all of them have some form of neutrality, implying that the bullish sentiment is not absolute.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far above its 50-period EMA and its 21-period EMA
• Price is near its top Bollinger band
• RSI is approaching the overbought territory (65.02)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $17,000                                 1: $16,700

2: $18000                                  2: $16,500

3: $18500                                   3: $16,000

Ethereum

Ethereum has spent the past two days slowly moving towards the top line of the ascending channel after pulling back to $440. The move was gradual but saw some resistance when it reached the top line. However, Ethereum bulls endured and ultimately broke the level but got instantly stuck at the $470 resistance, which is another wall they have to jump over to remain above this channel.

If Ethereum’s struggles to break the $470 level continue, we may expect a pullback of some sort. With that being said, due to the overall sentiment towards Ethereum (and its 2.0 implementation) as well as the state of the crypto sector, shorting Ethereum should not be a proper trading strategy, even if ETH does pull back.

ETH/USD 4-hour Chart

Ethereum’s 1-day technicals are slightly bullish but are showing signs of neutrality. On the other hand, its 4-hour, weekly, and monthly overviews are completely tilted towards the buy-side.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (57.54)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $470                                     1: $451

2: $490                                     2: $445 

3: $500                                      3: $420

Ripple

The fourth-largest cryptocurrency by market cap had yet another incredible day, with its price pushing past the $0.27 and even $0.2855 resistance levels. An incredible bull wave brought XRP’s price to $0.3 before it started to pull back slightly. This move has pushed XRP further up towards being the best-performing asset over a 1-week period compared to BTC and ETH, with gains of 18% this week, compared to BTC’s gains of 2.95 and ETH’s gains of 0.76.

Traders can finally look at XRP as a cryptocurrency that isn’t just used for sideways trading, and look for opportunities near new highs.

XRP/USD 4-hour Chart

XRP’s 4-hour, daily, and monthly technicals are slightly tilted towards the buy-side, and all of them are showing more or less signs of neutrality. The weekly overview is, on the other hand, completely bullish.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and its 21-period EMA
• Price is at its top Bollinger band
• RSI is heavily overbought (76.99)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.31                                     1: $0.2855 

2: $0.3244                                 2: $0.27

3: $0.3328                                3: $0.266

 

The cryptocurrency sector has spent the weekend pretty flat as Bitcoin was experiencing a period of low volatility. The largest cryptocurrency by market cap is currently trading for $16,272, representing an increase of 1.37% on the day. Meanwhile, Ethereum lost 1.19% on the day, while XRP lost 0.69%.

 Daily Crypto Sector Heat Map

SushiSwap gained 13.81% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization yet again today. It is closely followed by THORChain’s gain of 9.54% and Curve DAO Token’s 4.80% gain. On the other hand, ABBC Coin lost 45.16%, making it the most prominent daily loser. The Midas Touch Gold lost 8.96% while Ampleforth lost 8.88%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has decreased slightly over the weekend, with its value is currently staying at 65%. This value represents a 0.3% difference to the downside compared to the value it had on Friday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up very slightly over the course of the weekend. Its current value is $463.37 billion, representing an $0.51 billion increase compared to our previous report.

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What happened in the past 24 hours?

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• Grayscale Nears $10 Billion AUM, Institutional Demand for Bitcoin Heats Up (Cryptobriefing)
• Bitcoin Cash Hard Fork Complete, Battle for Dominant Chain Begins (Cryptobriefing)
• New Bitcoin Mining Pool Says It Will Censor BTC Transactions (Cryptobriefing)
• Why are crypto communities baffled by PayPal’s Bitcoin and Ethereum descriptions (Cryptoslate)
• This company wants to help the US feds in selling $1 billion of seized Bitcoin (Cryptoslate)
• Ethereum’s consensus bug chain split revives the specter of network centralization (The Block)
• US regulators have hit crypto firms with at least $198 million in financial penalties to date (The Block)
• Crypto Long & Short: What We’re Getting Wrong About Druckenmiller and Bitcoin (Coindesk)
• Central bank digital currencies (CBDC’s) are dead in the water (Cointelegraph)
• Blockchain voting is a possible alternative for trusted democratic elections (Cointelegraph)

Blockseer, a US-based DMG Blockchain Solutions’ subsidiary, has recently announced a private beta version of a brand new Bitcoin mining pool. This particular mining pool is, however, quite unique and different. The Blockseer Mining Pool will, unlike any other mining pool, censor transactions from wallets that are blacklisted. They also plan on mandating the miners to undergo KYC procedure, according to marketing materials.

Any new blocks generated by the Blockseer pool will include only filtered transactions, and the filters will be based on the Walletscore’s data.

While some agree that this way of transacting might be the future, the vast majority of public figures say that this is pure censorship and that it goes against the basic principles of Bitcoin as a free cryptocurrency, where a transaction is a transaction, no matter where it comes from.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the weekend experiencing very low volatility while fighting an incredibly important battle. Bitcoin was fighting to stay above the $16,000 mark after the move to the upside has died down at $16,500 on Nov 13, thus triggering a pullback.

An interesting outlook on Bitcoin is that the now won fight for $16,000 has created a higher low, and Bitcoin might push even higher in the following days. Traders should pay attention to volume increases around the $16,400-$16,500 mark.

BTC/USD 4-hour Chart

Bitcoin’s technicals are tilted slightly to the buy-side on the 4-hour, daily and weekly time-frames. However, all of these time-frames show signs of neutrality. On the other hand, its monthly overview is completely bullish.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and at its 21-period EMA
• Price is near its middle Bollinger band
• RSI is neutral (58.99)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $16,500                                 1: $16,000

2: $16,700                                 2: $15,480

3: $17,000                                  3: $14,640

Ethereum

Ethereum has, just like Bitcoin, spent the weekend fighting to stay above its support level. The second-largest cryptocurrency by market cap, however, did not manage to win its fight. Ether has triggered a pullback after bouncing from the $478 level, which caused its price to first hover around the yellow top ascending channel line until it finally broke it to the downside. The move was stopped at $440, and Ethereum has since recovered and is currently trading just below the yellow line.

Our call on Friday for Ethereum dropping below the line was correct, as ETH did exactly as expected. However, the combination of factors at the moment make Ethereum a not-so-good trade, and traders should perhaps look at other options before choosing to trade it.

ETH/USD 4-hour Chart

Ethereum’s technicals are extremely bullish on its weekly and monthly time-frames and very bullish (but not as much as the aforementioned time-frames) on its daily overview. Its 4-hour overview, however, is tilted heavily towards the sell-side.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is slightly above its 50-period and slightly below its 21-period EMA
• Price is slightly below its middle Bollinger band
• RSI is neutral (47.32)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $470                                     1: $451

2: $490                                     2: $445 

3: $500                                      3: $420

Ripple

The fourth-largest cryptocurrency by market cap had an incredible day on Friday, as its price pushed above 2 of its major resistance levels. XRP has managed to, in a span of around 12 hours, push past the $0.26 and $0.266 levels and took the weekend to consolidate above them and create a strong foundation. The $0.266 level was tested as support twice already, successfully both times.

Traders can finally look at XRP as a crypto that moves somewhere else than sideways, and look for opportunities in places other than the range between $0.2454 and $0.26.

XRP/USD 4-hour Chart

XRP’s technicals are slightly tilted towards the buy-side on all time-frames, with more or less neutrality signs. The important change from the last report (and many reports before) is XRP’s monthly overview, which has finally turned bullish.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and slightly above at its 21-period EMA
• Price is between its middle and top Bollinger band
• RSI is neutral (59.63)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.27                                     1: $0.266

2: $0.2855                                 2: $0.26

3: $0.31                                    3: $0.2454

 

The cryptocurrency sector has spent the day equally divided between cryptos that ended up in the red and the green. The largest cryptocurrency by market cap pushed past its $16,000 mark and is currently trading for $16,291, representing an increase of 3.26% on the day. Meanwhile, Ethereum lost 0.15% on the day, while XRP gained 0.45%.

 Daily Crypto Sector Heat Map

Blockstack gained 33.78% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization yet again today. It is closely followed by Dash’s gain of 13.33% and Decred’s 8.98% gain. On the other hand, ABBC Coin lost 12.08%, making it the most prominent daily loser. Ampleforth lost 11.75% while Aragon lost 10.85%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has increased since we last reported, with its value is currently staying at 65.3%. This value represents a 0.8% difference to the upside compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up over the course of the day. Its current value is $462.86 billion, representing an $8.70 billion increase compared to our previous report.

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What happened in the past 24 hours?

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• US Customers Can Now Buy Bitcoin on PayPal, Wait List Lifted (Cryptobriefing)
• Bitfinex Enters P2P Lending Industry, Offers Loans up to $250,000 (Cryptobriefing)
• European Users Can Soon Earn up to 9% on BlockFi (Cryptobriefing)
• CBDCs Will Replace Private Stablecoin Tether, Central Bankers Say (Cryptobriefing)
• One of China’s biggest banks is allowing investors to buy bonds with Bitcoin (Cryptoslate)
• $1 billion worth of Ethereum is about to be released into the DeFi market (Cryptoslate)
• Bitcoin-friendly US regulator slammed for focusing “too much” on crypto (Cryptoslate)
• Crypto market maker B2C2 is pushing Japan’s biggest trading houses to buy bitcoin (The Block)
• Fed vice chair says the US central bank is still in ‘early stages’ of a possible CBDC (The Block)
• ECB not ‘racing to be first’ but Lagarde’s hunch is that Europe will issue a digital euro (The Block)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has tested the $16,000 mark for a long time, failing a couple of times as profit-taking chipped away too much bull power. However, BTC has officially broken the $16,000 resistance today, turning it into support. The move that pushed it past this mark has ended right at the $16,500 resistance, which held up quite well. Many say the reason for the move past $16,000 is that banks and firms are moving their funds into BTC due to uncertainties in the traditional markets (major indexes traded slightly in the red yesterday). An engulfing candle that followed the last green candle of the move, as well as RSI bouncing off of the overbought area, show that a correction is the most likely option at the moment.

Slow and steady increases in volume accompanied each of Bitcoin’s moves. Traders can use this info to enter and exit trades safely.

BTC/USD 4-hour Chart

Bitcoin’s technicals are bullish overall but are split between the 4-hour and weekly time-frames, which are more tilted towards the neutral position, and daily and monthly time-frames, which are completely bullish.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is well above its 50-period EMA and its 21-period EMA
• Price is near its top Bollinger band
• RSI is near the overbought territory (64.03)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $16,500                                 1: $16,000

2: $16,700                                 2: $15,480

3: $17,000                                  3: $14,640

Ethereum

Ethereum has continued its upward path, supported by its ascending channel top line. The second-largest cryptocurrency by market cap managed to hold itself above this level, effectively slowly increasing in price due to the slope of the support line. However, it is yet to be seen if ETH can stay above this level for long, and a potential drop below the line is quite possible.

Ethereum traders should look for ETH dropping below the top line of the ascending channel and trade off of that.

ETH/USD 4-hour Chart

Ethereum’s technicals are bullish on all time-frames, with its 4-hour time-frame being more tilted towards the neutral position and longer time-frames being completely bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and slightly above its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (53.64)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $470                                     1: $451

2: $490                                     2: $445 

3: $500                                      3: $420

Ripple

The fourth-largest cryptocurrency by market cap has had a slow day of sideways action within the range it is in for almost a week. XRP has moved slightly towards the middle of the range after it failed to break the $0.26 resistance level, entering a period of low volatility.

Traders shouldn’t really be interested in XRP at the moment due to its low volatility. However, those that want to trade XRP can enter trades with targets and stop-losses that correspond to the current support/resistance levels.

XRP/USD 4-hour Chart

XRP’s technicals on the 4-hour and daily time-frame have changed its stance from bullish/neutral to straight bullish, while its weekly time-frame is still almost completely neutral. Its monthly overview shows strong bearish sentiment.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (50.34)
• Volume is slightly below average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.27                                    3: $0.227

 

The cryptocurrency sector has spent the day mostly consolidating, with roughly the same amount of cryptocurrencies ending the day in the green and the red. The largest cryptocurrency by market cap is currently trading for $15,802, representing an increase of 2.68% on the day. Meanwhile, Ethereum gained 0.24% on the day, while XRP gained 0.60%.

 Daily Crypto Sector Heat Map

Blockstack gained 17.15% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization. It is closely followed by OMG Network’s gain of 12.03% and ICON’s 11.46% gain. On the other hand, yearn.finance lost 10.37%, making it the most prominent daily loser. Loopring lost 9.34% while Synthetix lost 8.90%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has increased slightly since we last reported, with its value is currently staying at 64.5%. This value represents a 0.6% difference to the upside compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up over the course of the day. Its current value is $454.16 billion, representing an $8.04 billion increase compared to our previous report.

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What happened in the past 24 hours?

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• Ethereum accidentally “hard forks” after Infura outage (Cryptoslate)
• Infura Outage Sparks Debate Over Ethereum’s Decentralization (Cryptobriefing)
• Behind the Shroud of Cred’s Tragic Bankruptcy (Cryptobriefing)
• BlockFi plots retail launches in Europe — but not the UK (The Block)
• Bridgewater’s Ray Dalio says bitcoin isn’t poised for the success its adopters hope (The Block)
• Ahead of Eth2 launch, a new lending initiative allows validators to borrow against their staked ETH (The Block)
• MakerDAO’s DAI Stablecoin Breaks $1B Market Cap (Coindesk)
• Institutional money is pumping the DeFi markets back up (Cointelegraph)
• 100 billion reasons Apple should get behind Bitcoin: Michael Saylor (Cointelegraph)
• ‘Slippery slope’ as new Bitcoin mining pool censors transactions (Cointelegraph)

Ethereum had quite a bad day, as its consensus reached an unexpected hard fork. This issue is considered the one holding the most weight ever since the DAO debacle from 4 years ago. The developers are still looking into the issue, and things will be fully understood at a later date.

Ethereum essentially hard forked right when its developers introduced a new update to the chain, and those who haven’t upgraded yet (including Blockchair, Infura, and other miners) got stuck in a minority chain for around 30 blocks (2 hours).

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has pushed towards the upside, reaching as far as $15,990 but not being able to break the $16,000 mark. This failure to break its immediate resistance level has caused another (third) top to form, marking a possible short-term trend reversal as a possibility if Bitcoin doesn’t move up quickly.

Traders should trade carefully around this level and be prepared to trade the pullback or the spike. While these “, ride the trend” trades are hard to predict in terms of when they start, they are easy to trade once the entry happens.

BTC/USD 4-hour Chart

Bitcoin’s technicals are bullish on all time-frames. However, its 4-hour and monthly time-frames are completely bullish, while its daily and weekly overviews are showing signs of neutrality or even slight bear presence.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and slightly above its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is near the overbought territory (64.15)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $16,000                                 1: $15,480

2: $16,400                                 2: $14,640

3: $16,700                                  3: $14,100

Ethereum

Ethereum has stayed above the top line of its ascending channel but could not break the resistance zone above $470. However, its price didn’t react negatively to the news of the algorithm failure and an unplanned mini hard fork, which is quite a bullish outcome of events.

Ethereum traders should watch out for how the second-largest cryptocurrency by market cap navigates the range between the top line of the ascending channel and its $470 resistance level.

ETH/USD 4-hour Chart

Ethereum’s technicals are bullish on all time-frames, with its 4-hour and monthly time-frames being completely bullish and its daily and weekly overviews showing signs of neutrality or even slight bear presence.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and slightly above its 21-period EMA
• Price is above its middle Bollinger band
• RSI is neutral (60.34)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $470                                     1: $451

2: $490                                     2: $445 

3: $500                                      3: $420

Ripple

The fourth-largest cryptocurrency by market cap has suffered a minor pullback after failing to break its immediate resistance level ($0.26). XRP is still trading within a range bound by $0.2454 to the downside and $0.26 to the upside, while its range is even more narrow lately, as its price is hovering only the top portion of the range.

Traders still have the opportunity to trade XRP’s sideways action without much risk. On the other hand, if the volume does increase drastically, a move towards the upside is much more likely, unless Bitcoin’s potential move down brings every other crypto down with it.

XRP/USD 4-hour Chart

XRP’s technicals on the 4-hour, daily, and weekly time-frame are bullish with slight hints of neutrality. On the other hand, its monthly overview is heavily tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price above its 50-period EMA and slightly above its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (55.12)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.27                                    3: $0.227

 

The cryptocurrency sector has spent the day consolidating and preparing for the next move and setting up valid technical formations. The largest cryptocurrency by market cap is currently trading for $15,377, representing an increase of 0.01% on the day. Meanwhile, Ethereum gained 2.08% on the day, while XRP gained 1.14%.

 Daily Crypto Sector Heat Map

Loopring gained 30.64% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization. It is closely followed by UMA’s gain of 24.45% and yearn.finance’s 17.59% gain. On the other hand, Decentraland lost 13.96%, making it the most prominent daily loser. Decred lost 9.94% while HedgeTrade lost 8.76%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has decreased slightly since we last reported, with its value is currently staying at 63.9%. This value represents a 0.3% difference to the downside compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up slightly over the course of the day. Its current value is $446.12 billion, representing a $4.38 billion increase compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

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• Bitcoin fees plummet as its mempool clears to zero (Cointelegraph)
• Sam Bankman-Fried states that even ETH 2 can’t handle DeFi’s potential growth (Cointelegraph)
• Indian exchange offers Ether staking ahead of Ethereum 2.0 launch (Cointelegraph)
• MicroStrategy CEO Explains Why Bitcoin Is ‘a Million Times Better’ Than ‘Antiquated’ Gold (Coindesk)
• ShapeShift Delists Privacy Coin Zcash Over Regulatory Concerns (Coindesk)
• Ethereum 2.0 Deposit Contract Tops $22.5 Million One Week After Launch (Coindesk)
• Failed Sybil Attack Targeted Monero Users, Privacy Is Safe (Cryptobriefing)
• 3 reasons Bitcoin spot volume reaching new yearly peak is highly optimistic (Cryptoslate)
• Former Microsoft employee sentenced in what IRS calls ‘first Bitcoin case’ involving false tax return (The Block)
• Lebanon launching its own digital currency in 2021: report (The Block)

Bitcoin’s transaction fees have plummeted as its mempool got cleared, reaching its smallest size since the middle of Oct. This means that hundreds, if not thousands of unconfirmed transactions, got included in the recent blocks, leaving the blockchain clear and unclogged. The mempool clearing has been attributed to a 42% increase in hash rate, which happened just a couple of days ago as Chinese miners completed their migration from the Sechuan region.

At the moment, the median transaction fee is 3 sat/byte, or roughly $0.11.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the day trading in a narrow range between $15,100 and $15,500, trying to pass the $15,480 level with confidence. However, as this did not happen, we are seeing a possible lower high forming. The flat RSI and volume dropping signal a “calm before the storm,” which means that traders should prepare for a sharp move soon.

Traders should wait for Bitcoin to choose its short-term direction and trade only if Bitcoin confidently goes above $15,480 or below $15,420 with significant volume.

BTC/USD 4-hour Chart

Bitcoin’s technicals are bullish on all time-frames. However, its shorter time-frames are showing signs of neutrality, or even slight bearish presence, while its monthly overview is completely bullish.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and right at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (54.44)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $15,480                                 1: $15,420

2: $16,400                                 2: $14,640

3: $16,700                                  3: $14,100

Ethereum

Ethereum has, unlike Bitcoin, had a great day as its price propelled past the top line of the ascended channel. The price increase is mainly attributed to great news regarding its 2.0 update adoption, as its deposit contracts top 22.5 million only one week after launch.

However, while the price increase is certainly a great thing, Ethereum is currently entering a strong resistance zone (above $460), which may cause problems for the ETH bulls.

Traders should pay close attention to how (and if) Ethereum pulls back or continues upwards. If Bitcoin doesn’t make any moves, it’s safe to assume that Ethereum will pullback in the short future.

ETH/USD 4-hour Chart

Ethereum’s technicals show “extreme buy” daily, weekly, and monthly time-frames, while its 4-hour overview is slightly more neutral.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• Price is at its top Bollinger band
• RSI is neutral (60.73)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $470                                     1: $451

2: $490                                     2: $445 

3: $500                                      3: $420

Ripple

The fourth-largest cryptocurrency by market cap has continued trading within a range, bound by $0.2454 to the downside and $0.26 to the upside. XRP has spent the day slowly increasing its price, but the one attempt it had of pushing past $0.26 got shut down quickly.

Traders are safe to assume that XRP will trade within the same range and that they can trade the sideways action. On the other hand, if the volume increases drastically, a move towards the upside is much more likely than one towards the downside (unless fueled by Bitcoin’s move).

XRP/USD 4-hour Chart

XRP’s technicals on the 4-hour and weekly time-frame are slightly bullish with slight hints of neutrality, while its daily overview is bullish. On the other hand, its monthly overview is tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price above its 50-period EMA and slightly above its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (52.36)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.27                                    3: $0.227

 

The cryptocurrency sector has spent the day mostly consolidating and preparing for the next move and setting up technical formations. The largest cryptocurrency by market cap is currently trading for $15,288, representing a decrease of 1.14% on the day. Meanwhile, Ethereum lost 1.70% on the day, while XRP lost 0.8%.

 Daily Crypto Sector Heat Map

Civic gained an astonishing 101.35% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization. It is closely followed by Golem’s gain of 29.25% and Decentraland’s 22.26% gain. On the other hand, Loopring lost 9.76%, making it the most prominent daily loser. Synthetix lost 7.39% while Energy Web Token lost 7.35%, making them the 2nd and 3rd most prominent daily losers.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has decreased slightly since we last reported, with its value is currently staying at 64.2%. This value represents a 0.1% difference to the downside compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone down slightly over the course of the day. Its current value is $441.50 billion, representing a $4.29 billion decrease compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Big mining move: Bitcoin’s hash power increases by 42% in two days (Cointelegraph)
• SEC Commissioner Peirce Says Regulations Should Be Slow, Though Crypto Rules Could Be Faster (Coindesk)
• What’s the deal with DeFi “blue chips”? SNX, AAVE, YFI surge 100 percent off lows (Cryptoslate)
• Crypto “bank” Cred files for bankruptcy after alleged multimillion fraud case (Cryptoslate)
• 1.1m XRP stolen in phishing scam on crypto wallet Ledger lookalike (Cryptoslate)
• Billionaire Hedge Fund Manager Stan Druckenmiller Buys Bitcoin (Cryptobriefing)
• Addresses Holding 32 ETH Hits All-Time High Ahead of Ethereum 2.0 Launch (Cryptobriefing)
• Bitcoin SV Exploit Results in Widespread Theft (Cryptobriefing)
• Binance has begun to block U.S. users from accessing its exchange platform (The Block)
• Gold and bitcoin tumble while equities swing upward on COVID-19 vaccine news (The Block)

The past 24 hours were characterized by a slow price movement of the crypto sector. However, a lot of important news reached the public’s eye. Bitcoin Miners finished up on Sichuan’s migration, triggering a hash rate spike of 42% in the past 2 days. Ethereum has been performing great, and news of its 2.0 version is all over the place, with the most recent one being that the number of addresses surpassing 32 ETH (the amount required to be a validator) is at an all-time high. On the other hand, Bitcoin SV brought bad news to the sector, as its multi-sig feature got compromised, causing enormous losses for its users.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization is trading in a very uncertain zone at the moment. Its price has most likely created a double top formation, indicating a possible pullback in the short-term. This prediction is even more convincing as we can see that Bitcoin can’t get past the $15,480 resistance after trying for over 12 hours. However, the overall sentiment around the cryptocurrency is extremely bullish, and its downside is protected by the ascending (yellow) line.

With that being said, traders should wait for Bitcoin to choose its direction and trade only if Bitcoin spikes above $15,480 or below $15,420 with significant volume.

BTC/USD 4-hour Chart

Bitcoin’s technicals are bullish on all time-frames. The only difference compared to yesterday was that every single time-frame is completely bullish and with almost no neutrality present (as opposed to yesterday, when neutral sentiment could be seen on some overviews).

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and right at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (53.60)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $16,400                                 1: $15,480

2: $16,665                                 2: $14,640

3: $17,260                                  3: $14,100

Ethereum

Ethereum has been playing around the upper line of the ascending channel (yellow dotted line) and constantly going above and under it. At the moment, its price is under the line, and any attempts of getting past it have been extinguished quickly. This most likely means that Ethereum failed to establish itself above the $451 level, which could trigger a correction towards the 50-period moving average, and ultimately the bottom channel line.

Traders should pay close attention to volume, as they will not have a lot of time to join in on the trade towards the downside. Placing a stop-loss right above the ascending channel top line should be a “safe bet.”

ETH/USD 4-hour Chart

Ethereum’s technicals are tilted heavily towards the buy-side on its 4-hour and monthly overview, while the neutral sentiment is heavily present on its daily and weekly charts.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and slightly above its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (55.58)
• Volume is slightly elevated

Key levels to the upside          Key levels to the downside

1: $451                                     1: $445

2: $470                                     2: $420 

3: $490                                      3: $415

Ripple

The fourth-largest cryptocurrency by market cap continued its consolidation phase right above the $0.2454 level, which is considered a major pivot point in XRP’s trading in the recent past. XRP created a double bottom at this level, possibly indicating a push towards the $0.26 in the short term.

Traders should still be safe to assume that XRP will trade within the range and that they can trade the sideways action. However, if the volume increases drastically, a move towards the upside is much more likely (if not fueled by Bitcoin’s move).

XRP/USD 4-hour Chart

XRP’s technicals on the 4-hour, daily, and weekly time-frame are all tilted towards the buy-side. However, neutral sentiment can be seen in all of them. On the other hand, its monthly overview also has the same neutrality amount but is tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price slightly above its 50-period EMA and at its 21-period EMA
• Price is slightly below its middle Bollinger band
• RSI is neutral (49.69)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.27                                    3: $0.227

 

The cryptocurrency sector has spent the weekend trying to recover and regain previous highs after most cryptocurrencies briefly dropped in price due to the election uncertainty. The most recent spike was triggered by the end of the US presidential elections, which caused mass uncertainty in the markets, as well as by now-President Biden hiring pro-crypto Gary Gensler as a member of his team. The largest cryptocurrency by market cap is currently trading for $15,433, representing an increase of 2.73% on the day. Meanwhile, Ethereum gained 2.94% on the day, while XRP gained 0.34%.

 Daily Crypto Sector Heat Map

Aave gained 20.05% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization. It is closely followed by THORChain’s gain of 17.75% and NEAR Protocol’s 17.57% gain. On the other hand, Celo lost 7.03%, making it the most prominent daily loser. The rest of the cryptocurrencies barely suffered any losses in the past 24 hours.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance has decreased slightly since we last reported, with its value is currently staying at 64.3%. This value represents a 1% difference to the downside compared to the value it had on Friday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gone up slightly over the weekend. Its current value is $446.21 billion, representing a $4.85 billion increase compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Crypto Impact Unclear After Joe Biden Unseats Donald Trump as Next US President (Coindesk)
• Crypto Long & Short: Bitcoin Gets Ready for a New Type of Hedge (Coindesk)
• Legitimate volume on spot crypto exchanges fell to $125.8 billion in October (The Block)
• The U.S. government owns $1b in Bitcoin—and some don’t think they should sell it (Cryptoslate)
• ySqueeze: the effort that helped to drive Yearn.finance (YFI) 140% higher in 36 hours (Cryptoslate)
• Nouriel “Dr. Doom” Roubini admits Bitcoin is a “partial” store of value (Cryptoslate)
• Once $80-million privacy crypto Grin comes under 51% attack (Cryptoslate)
• New Addresses Joining Cardano Jumps 202%, ADA Takes Aim at Yearly Highs (Cryptobriefing)
• Cred Files for Bankruptcy Following Fraud Incident (Cryptobriefing)
• Crypto ATMs continue to boom globally in 2020 (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has entered a state of uncertainty due to how close the US presidential election process was, and even had a brief drop due to less crypto-friendly Joe Biden winning. However, a new announcement regarding Biden hiring crypto-friendly advisors, as well as general stabilization of the political sphere, has triggered a spike in both stocks and Bitcoin.

Bitcoin has, after a brief drop below the yellow ascending line, come back above it, but only slightly as the move to the upside was stopped by the $15,420-$15,480 level.

Traders should wait for Bitcoin to “decide” whether it will go above $15,480 or below $15,420 and trade off of that.

BTC/USD 4-hour Chart

Bitcoin’s technicals are bullish on all time-frames, with smaller time-frames showing a bit of neutrality and longer time-frames being completely bullish.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (60.66)
• Volume is slightly elevated

Key levels to the upside          Key levels to the downside

1: $15,480                                 1: $14,640

2: $16,665                                 2: $14,100

3: $17,260                                  3: $13,900

Ethereum

Ethereum has had an amazing weekend, with its price skyrocketing past the top line of the ascending channel. While most analysts thought that the second-largest cryptocurrency by market cap couldn’t get back above this line after the Nov 7 drop, Ethereum has proven them wrong and went above $450.

However, the immediate area above $450 is a zone of strong resistance, and Ethereum traders have to watch out how they enter trades here. The safest pick when it comes to trading Ethereum right now would be “riding the wave” towards the upside when ETH decides to spike.

ETH/USD 4-hour Chart

Ethereum’s technicals are almost completely neutral on the 4-hour and daily time-frames, while its longer time-frames are heavily tilted towards the buy-side.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• Price slightly above its middle Bollinger band
• RSI is neutral (62.07)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $451                                     1: $445

2: $470                                     2: $420 

3: $490                                      3: $415

Ripple

The fourth-largest cryptocurrency by market cap had ended its ascension on Nov 7, when most cryptocurrencies dropped heavily in price. However, while most cryptos managed to get back near its previous highs, XRP failed to do so. It is currently trading in a wide range between $0.2454 and $0.26, after stopping its upward move at the ~$0.256 level.

Traders can consider trading XRP’s sideways movement as the volume is now reduced, and the possibility of a strong move is low. However, if such a move does happen, it could be easily predicted due to XRP’s current position.

XRP/USD 4-hour Chart

XRP’s technicals on the 4-hour, daily, and weekly slightly bullish, with some hints of neutrality. Its monthly overview, however, is still tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price slightly above its 50-period EMA and at its 21-period EMA
• Price is slightly below its middle Bollinger band
• RSI is neutral (53.59)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.27                                    3: $0.227

 

The cryptocurrency sector has exploded to the upside as Bitcoin keeps paving the path towards highs only seen during the bull run of 2017/2018. The largest cryptocurrency by market cap is currently trading for $15.632, representing an increase of 10.1% on the day. Meanwhile, Ethereum gained 7.74% on the day, while XRP gained 4.5%.

 Daily Crypto Sector Heat Map

Uniswap gained 28.39% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization. It is closely followed by Aave’s gain of 25.21% and NEAR Protocol’s 23.87% gain. On the other hand, The Midas Touch Gold lost 6.16%, making it the most prominent daily loser. It is followed by Numeraire’s loss of 5.03% and Celo’s loss of 3.94%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has increased slightly since we last reported, with its value is currently staying at 65.3%. This value represents a 0.4% difference to the upside when compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has skyrocketed in the past 24 hours. Its current value is $440.94 billion, representing a $28.77 billion increase compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Vitalik Buterin contributes 3,200 ETH to Ethereum 2.0’s deposit contract address (The Block)
• Two big questions ahead of China’s central bank digital currency launch (The Block)
• Over $1M in user funds on Compound fork Perfect Finance are frozen after code change error (The Block)
• What do SEC and CFTC press releases reveal about crypto regulation efforts? (The Block)
• Bitcoin On-Chain Metrics Spell Trouble as BTC Breaks $15K (Cryptobriefing)
• US Dollar Weakness Exposed, Investors Flip to Bitcoin (Cryptobriefing)
• Coinbase Lists Three New Ethereum Tokens With More on the Way (Cryptobriefing)
• US Government Now a Bitcoin Whale Thanks to $1 Billion Silk Road Seizure (Cryptobriefing)
• Lightning Operators Are Bracing for a BTC Bull Run (Coindesk)
• Ledger owners lose 1.1 million XRP to scam site (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has surged past the $15,000 psychological resistance and entered the zone last seen in Jan 2018, right before the BTC crash. Bitcoin scored double-digit gains on the day and destroyed the $14,640 resistance on the way, turning it into support. While it is currently slowing down as it is approaching $16,000, many analysts call for $17,000 before a pullback.

Traders should wait for Bitcoin to start pulling back if they want a safer trade, or they can ride the wave whenever Bitcoin’s price spikes if they are quick on their feet to enter and leave the trade.

BTC/USD 4-hour Chart

Bitcoin’s technicals are extremely bullish on all time-frames, and no time-frame is showing any signs of bearishness or neutrality.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is well above both its 50-period EMA and its 21-period EMA
• Price is at its top Bollinger band
• RSI is heavily in the overbought zone (79.75)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $15,420                                 1: $14,640

2: $16,665                                 2: $14,100

3: $17,260                                  3: $13,900

Ethereum

Ethereum has, due to Bitcoin pulling it up as well as due to the hype created around its 2.0 version coming out, surged and almost scored a double-digit gain on the day. The second-largest cryptocurrency by market cap has established itself back in the ascending channel after briefly dropping out of it. However, that wasn’t enough for the Ethereum bulls as they tried to push its price above the channel completely.

As the upper channel line held amazingly and stopped Ethereum’s rise, we can conclude that (unless Bitcoin doesn’t have any extreme surges), Ethereum traders can safely trade within a range bound by the ascending channel.

ETH/USD 4-hour Chart

Ethereum’s technicals are somewhat neutral on the 4-hour and daily time-frames, while its longer time-frames show a heavy tilt towards the buy-side.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is well above both its 50-period and its 21-period EMA
• Price is at its top Bollinger band
• RSI is extremely overbought (78.03)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $445                                     1: $420

2: $451                                     2: $415 

3: $490                                      3: $400

Ripple

As we predicted in our previous article, the fourth-largest cryptocurrency by market cap has broken the triangle formation that was forming from Nov 3. The price has sparked up by Bitcoin’s push towards the upside, moved to the upside as well, reaching past the $0.2454 resistance level and up towards $0.25.

One thing to note is that, while XRP has managed to break $0.2454, it needs to confirm its position above it in order to be safe in the short-term.

XRP/USD 4-hour Chart

XRP’s technicals on the 4-hour, daily, and weekly chart are slightly tilted towards the buy-side but are not completely bullish. Its monthly overview, however, is tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is well above its 50-period EMA and its 21-period EMA
• Price at its top Bollinger band
• RSI is on the verge of being overbought (68.49)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $0.26                                 1: $0.2454

2: $0.266                                     2: $0.235

3: $0.27                                  3: $0.227

 

The cryptocurrency sector has explosively pushed towards the upside as Bitcoin broke the $14,316 and entered the territory explored only during the 2017/2018 bull run and last seen in July 2018. The largest cryptocurrency by market cap is currently trading for $14,316, representing an increase of 5.54% on the day. Meanwhile, Ethereum gained 4.78% on the day, while XRP gained 0.67%.

 Daily Crypto Sector Heat Map

HedgeTrade gained 38.24% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization. It is closely followed by Celsius’ gain of 9.37% and CyberVain’s 7.78% gain. On the other hand, Uniswap lost 16.95%, making it the most prominent daily loser. It is followed by yearn.finance’s loss of 16.73% and ABBC Coin’s loss of 9.35%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has increased slightly since we last reported, with its value is currently staying at 64.9%. This value represents a 0.6% difference to the upside when compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased over the course of the day. Its current value is $412.17 billion, representing a $7.35 billion increase when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Ahead of Election Night, the number of large reportable CME bitcoin futures traders hit an all-time high (The Block)
• Raoul Pal explains why he isn’t surprised by bitcoin’s correlation to stocks (The Block)
• No matter who wins the US election, Bitcoin will likely rally: historical data (Cryptoslate)
• Crypto fund manager warns Ethereum DeFi crash isn’t done, even after 75% drop (Cryptoslate)
• Ethereum price surges past $400 on news of ETH 2.0 contract release (Cryptoslate)
• PredictIt Users Threaten Lawsuit Following Disastrous Election Night Crash (Cryptobriefing)
• Telegram Ordered to Pay $620,000 in Copyright Lawsuit (Cryptobriefing)
• Leverage is fueling Bitcoin’s rally to highest price since January 2018 (Cointelegraph)
• Trezor’s failure to support upcoming BCH fork comes under fire (Cointelegraph)
• Bitcoin Is Good for PayPal, but Is PayPal Good for Bitcoin? (Coindesk)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had finally broken the $13,900 resistance with confidence and confirmed its position above it. Not only that, but it has entered the price level last seen in July 2018. This means that there will be a lot of uncertainty and unset support and resistance levels, and also a lot of random volatility due to various entities taking profit and new investors FOMOing in.

However, a couple of potential resistance levels have formed, one of them being at $14,640. Traders should pay close attention to this level as well as use Fib retracements to create possible targets when trading.

BTC/USD 1-hour Chart

Bitcoin’s technicals on showing a strong buy at all time-frames. No neutrality is being shown as Bitcoin is currently in an extremely favorable place price-wise.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and its 21-period EMA
• Price is slightly below its top Bollinger band
• RSI is coming out of the overbought zone (69.10)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $14,640                                 1: $14,100

2: $16,665                                 2: $13,900

3: $17,260                                  3: $13,570

Ethereum

Bitcoin’s push towards the upside has fueled Ethereum, and the hype surrounding its version 2.0 launch, managed to surge above the ascending channel bottom line and re-enter the channel once again. The second-largest cryptocurrency by market cap reached as high as $409 before pulling back. It is now consolidating at slightly below $400.

If we don’t see any explosive moves from BTC and ETH in the short term, we can expect Ethereum to pull back slightly more and test the ascending channel’s bottom line as support. Traders can wait for the results of the “test” and trade off of that.

ETH/USD 4-hour Chart

Ethereum’s technicals on all time-frames are tilted towards the buy-side. However, its shorter time-frames (4-hour and daily) are showing hints of neutrality, while its longer time-frames are completely bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• Price is between its middle and top Bollinger band
• RSI is neutral (57.63)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $400                                     1: $378

2: $415                                     2: $371

3: $420                                      3: $361

Ripple

The fourth-largest cryptocurrency by market cap hardly even moved in the past 24 hours despite the rest of the crypto market booming. As we mentioned in our previous article, if Bitcoin’s next explosive move doesn’t fuel XRP, it will move within a range bound by $0.235 and $0.2454, exactly what happened.

XRP seems to be creating a triangle formation on its 4-hour chart. If that is the case, it is bound to move above or below it extremely soon. However, the move will most likely be stopped at its immediate support or resistance level.

XRP/USD 4-hour Chart

XRP’s technicals have improved slightly, as they were extremely bearish the last time we reported. While its daily overview is still heavily tilted towards the sell-side, its weekly and monthly overviews are almost neutral (though still slightly tilted towards the bear side), and its 4-hour time-frame is even showing some bullishness.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is below its 50-period EMA and at its 21-period EMA
• Price at its middle Bollinger band
• RSI is neutral (48.73)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.2454                                 1: $0.235

2: $0.26                                     2: $0.227

3: $0.266                                  3: $0.221

 

The cryptocurrency sector has explosively pushed towards the upside as Bitcoin is contesting the $14,000 level yet again. The largest cryptocurrency by market cap is currently trading for $13,863, representing an increase of 3.81% on the day. Meanwhile, Ethereum gained 2.93% on the day, while XRP gained 3.67%.

 Daily Crypto Sector Heat Map

The Midas Touch Gold gained 13.90% in the past 24 hours, making it the most prominent daily gainer out of the top100 cryptos ranked by market capitalization. It is closely followed by ABBC Coin’s gain of 11.68% and Ampleforth’s 9.31% gain. On the other hand, CyberVain lost 9.64%, making it the most prominent daily loser. It is followed by NEAR Protocol’s loss of 9.57% and VeChain’s loss of 8.87%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has increased slightly since we last reported, with its value is currently staying at 64.3%. This value represents a 0.3% difference to the upside when compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased over the course of the day. Its current value is $399.05 404.52 billion, representing a $10.79million increase when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Grayscale Trust sees largest-ever weekly inflow, nears 500K BTC in total (Cointelegraph)
• Did the Eth 2.0 deposit contract just launch? (Cointelegraph)
• Tezos’ Technicals Turn Bullish Suggesting Price Recovery in the Works (Cryptobriefing)
• Ripple Made MoneyGram Rich, But What About XRP Holders? (Cryptobriefing)
• Ethereum Fees Plummeted 65% in October Following DeFi Volumes Back to Earth (Coindesk)
• Binance could be behind over a dozen stake pools on the Cardano blockchain (Cryptoslate)
• Analyst: Here’s why Ethereum crashed 4% in a single second yesterday (Cryptoslate)
• Nearly $1 billion worth of Bitcoin from the fourth-largest wallet just moved (The Block)
• October was a great month for bitcoin options (The Block)
• U.S. 2020 election boosts use of decentralized prediction markets (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had a great day as its price moved above the $13,900 mark. While the move got stopped out near $14,000, its price is still above the level it just passed.

Due to no strong pullbacks happening at the moment and Bitcoin staying within a very narrow range ($13,000-$14,100), we can expect a strong move to either side very soon. Traders should pay attention to any attempt to break its support/resistance levels Bitcoin makes.

BTC/USD 4-hour Chart

Bitcoin’s technicals on all time-frames are bullish, with the weekly overview being the only one with a considerable amount of neutrality.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and its 21-period EMA
• Price above its middle Bollinger band
• RSI is neutral (58.89)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $13,900                                 1: $13,570

2: $14,000                                 2: $13,180

3: $14,100                                  3: $13,000

Ethereum

Ethereum has bounced off of its $371 support level and started moving back towards its ascending channel. However, the channel bottom line was too strong to pass, and Ethereum ended up consolidating slightly below it. As time passes, the possibility of Ethereum breaking the level will be diminished due to the constant increase in the line’s price position.

Ethereum is now trading in a range between $378 and the ascending channel bottom line, which can be taken advantage of. However, Bitcoin is preparing a move, and Ethereum will most likely respond to it by following its direction and intensity, which can be used by the traders.

ETH/USD 4-hour Chart

Ethereum’s short-term technicals are unclear (4-hour overview being slightly bearish while daily overview is slightly bullish), while its longer-term technicals are heavily tilted towards the buy-side.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is below its 50-period and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (49.02)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $400                                     1: $378

2: $415                                     2: $371

3: $420                                      3: $361

Ripple

The fourth-largest cryptocurrency by market cap took the day to push back above $0.235 and consolidate above it. This returned XRP back within a range bound by $0.235 to the downside and $0.2454 to the upside.

As we mentioned in our previous articles, if the next Bitcoin’s explosive move does not fuel XRP, traders can comfortably trade sideways action within this range. If, however, Bitcoin’s price moves to either side and XRP follows the direction, traders can use this event to trade alongside the direction XRP is moving in.

XRP/USD 4-hour Chart

XRP’s technicals on all time-frames are heavily tilted towards the sell-side. However, the longer the time-frame, the more neutral the technicals are, with the monthly indicator being very close to being completely neutral.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price below its 50-period EMA and above its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is close to the oversold territory (50.52)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $0.2454                                 1: $0.235

2: $0.26                                     2: $0.227

3: $0.266                                  3: $0.221

 

The cryptocurrency sector experienced an overall price drop as Bitcoin pushed down towards sub-$13,500 levels. Most cryptocurrencies ended in the red as they lost quite a bit more than Bitcoin itself. The largest cryptocurrency by market cap is currently trading for $13,411, representing a decrease of 1.88% on the day. Meanwhile, Ethereum lost 5.68% on the day, while XRP lost 3.96%.

 Daily Crypto Sector Heat Map

The Midas Touch Gold gained 8.44% in the past 24 hours, making it the cryptocurrency to gain the most in a day (out of the top100 cryptos by market capitalization). The rest of the cryptocurrencies experienced close to no gains. On the other hand, Reserve Rights lost 17.14%, making it the most prominent daily loser. It is followed by SushiSwap’s loss of 14.07% and Compound’s loss of 12.86%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has increased since we last reported, with its value is currently staying at 64%. This value represents a 0.9% difference to the upside when compared to the value it had yesterday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has decreased over the course of the day. Its current value is $388.84 404.52 billion, representing a $5.32 million decrease when compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• PayPal Raises Crypto Buying Limit to $15K/Week for ‘Eager’ Customers (Coindesk)
• Mastercard President Says Crypto Patents Will Pay Off When Central Bank Digital Currencies Arrive (Coindesk)
• Bitcoin miners saw a notable bump in transaction fee revenue during October (The Block)
• Hong Kong’s SFC will require all crypto exchanges to be regulated (The Block)
• Ethereum Whales Rush to Exchanges, Reversing Bullish Trend (Cryptobriefing)
• SEC Raises Fundraising Limits for Crypto Startups and Small Businesses (Cryptobriefing)
• TRON Mainnet Suffers Attack, Brings Block Production to a Halt (Cryptobriefing)
• Despite 10% bounce in AAVE and YFI, analysts don’t think the DeFi bottom is in (Cryptoslate)
• Australian central bank mentions “Ethereum” as digital currency push continues (Cryptoslate)
• Crypto derivatives volume more than triples spot trading (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap has (as said in our previous article) moved away from the sideways trading as it could not stand trading in such a narrow range. Bitcoin pulled back below $13,570 and even went as low as ~13,200 before bouncing back to ~$13,400 (where it is currently consolidating).

The recent days have brought us a lot of support/resistance hopping, which is what we may expect in the near future as well. Traders should focus on capitalizing on these movements as they almost always overextend. The trades can be made both while Bitcoin is creating overextension (riskier but a bigger profit potential) or during the pullback (safer but less profit potential).

BTC/USD 4-hour Chart

Bitcoin’s 4-hour technicals are showing a bear tilt, while its longer time-frames are tilted towards the buy-side (longer time-frames have less neutrality and more of a buy-tilt than the shorter ones).

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far at its 50-period EMA and below its 21-period EMA
• Price below its middle Bollinger band
• RSI is neutral (43.90)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $13,570                                 1: $13,180

2: $13,900                                 2: $13,000

3: $14,000                                  3: $12,870

Ethereum

Ethereum has plummeted after failing to break the $400 mark, and losing all the most recent gains in the process. The second-largest cryptocurrency by market cap has left the ascending channel since the end of September. Its price drop was stopped at the $371 resistance level, which has held up quite well.

Ethereum is now trading in a narrow range bound by $371 to the downside and $378 to the upside. Traders should look for any breakouts to enter trades, while the ones that want to trade the sideways action should wait and see if Ethereum is likely to stay within this range.

ETH/USD 4-hour Chart

Ethereum’s 4-hour and daily technicals are tilted towards the sell-side, while its weekly and monthly overviews remain bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is far below both its 50-period and its 21-period EMA
• Price is at its bottom Bollinger band
• RSI is close to being overbought (35.83)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $361

3: $415                                      3: $358

Ripple

The fourth-largest cryptocurrency by market cap has had a red day as well, with its price falling through major support levels. A failed attempt to break the $0.2454 level has triggered a pullback, which pushed XRP’s price below $0.235 and even attempted to break $0.227. However, this support level held up, and XRP is now trading slightly above it.

If not fueled by Bitcoin’s explosive move towards either side, XRP will most likely trade sideways between $0.227 and $0.235. While traders could trade the sideways action without much problem, the lack of intra-range volatility is low, which brings the profit potential way down.

XRP/USD 4-hour Chart

XRP’s daily, weekly, and monthly technicals are all showing a strong tilt towards the sell-side, while its 4-hour overview is slightly bullish with hints of neutrality.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price far below both its 50-period EMA and its 21-period EMA
• Price is at its bottom Bollinger band
• RSI is close to the oversold territory (31.89)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $0.235                                   1: $0.227

2: $0.2454                                 2: $0.221

3: $0.26                                    3: $0.217

 

The cryptocurrency sector was full of volatility over the weekend as Bitcoin tried to break the $14,000 mark. Bitcoin is currently trading for $13,735, representing a decrease of 0.13% on the day. Meanwhile, Ethereum gained 3.12% on the day, while XRP gained 1.31%.

 Daily Crypto Sector Heat Map

Taking a look at the top 100 cryptocurrencies, Ocean Protocol gained 20.20% in the past 24 hours, making it the crypto to gain the most in a day. Aave (10.97%) and Ox (8.84%) also did great. On the other hand, ABBC Coin lost 10.72%, making it the most prominent daily loser. It is followed by CyberVain’s loss of 7.62% and Ren’s loss of 3.92%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level had stayed at the same place since we last reported, with its value is currently 63.1%. This value represents a 0% difference when compared to the value it had on Friday.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased slightly over the weekend. Its current value is $404.52 billion, representing a $4.91 million increase compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin’s white paper published 12 years ago today (The Block)
• A timeline of fintech’s involvement in crypto in 2020 thus far (The Block)
• BitMEX officials allegedly ‘looted’ $440 million from exchange after learning about U.S. charges, per lawsuit filing (The Block)
• The KuCoin thief’s exploits reveal the cutting edge of digital money laundering (The Block)
• Despite 95% drop in SUSHI, Ethereum DEX SushiSwap launches extensive update (Cryptoslate)
• Two multi-million dollar Ethereum DeFi project forks just “rug pulled” their investors (Cryptoslate)
• US Banks Could Seek Partnership With or Buy Crypto Custodians, OCC’s Brooks Says (Coindesk)
• Lagarde Seeks Public Comments About a Digital Euro, Implying a Broad Retail Offering Is Now on the Table (Coindesk)
• Ripple CTO offers answers for lack of adoption (Cointelegraph)
• Traders apathetic as Huobi exchange launches two new wrapped assets on Ethereum (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap had quite a volatile weekend, with its price breaking the $13,900 mark at one point and even reaching as high as $14,100. However, this price didn’t hold up, and Bitcoin fell back below $13,900, where it is consolidating at the moment. Bitcoin is now trading within a tight range, bound by $13,570 to the downside and $13,900 to the upside. History has shown us that BTC doesn’t stay range-bound for long; thus, we may expect a large move soon.

Traders should look for a trade when Bitcoin breaks one of its immediate resistances.

BTC/USD 4-hour Chart

Bitcoin’s overview on all time-frames is slightly bullish, with hints of neutrality. The neutrality is more present on the shorter time-frames as opposed to less neutrality on longer time-frames.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far above its 50-period EMA and above its 21-period EMA
• Price slightly above its middle Bollinger band
• RSI is neutral (53.43)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $13,900                                 1: $13,570

2: $14,000                                 2: $13,180

3: $14,660                                  3: $12,870

Ethereum

Ethereum had spent the weekend slowly following the ascending channel bottom line until Sunday when its price bounced off and pushed past $400. The second-largest cryptocurrency by market cap managed to reach as high as $405 before pulling back and consolidating. The fight for $400 will continue, and it will decide if Ethereum will push towards $415 and $420 in the near future or not.

Traders should look for Ethereum’s break (or the failure to break) the $400 level and trade off of that.

ETH/USD 4-hour Chart

Ethereum’s 4-hour technicals have changed to a strong buy after Ether’s price spike, while its daily, weekly, and monthly time-frames are all slightly bullish with hints of neutrality.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is far above both its 50-period and its 21-period EMA
• Price is at its top Bollinger band
• RSI is close to being overbought (64.51)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $400                                     1: $378

2: $415                                     2: $371

3: $420                                      3: $361

Ripple

The fourth-largest cryptocurrency by market cap spent the weekend consolidating below the $0.2454 level, which it has dropped below just before the weekend started. XRP tested both the $0.235 downside and $0.2454 upside, and both have proven to be strong support/resistance levels, which has left XRP range-bound.

XRP will take a lot of buying power to break above $0.2454 again, which means that the traders should consider trading sideways inside the range XRP is currently in.

XRP/USD 4-hour Chart

XRP’s daily, weekly, and monthly technicals are all showing a strong tilt towards the sell-side, while its 4-hour overview is slightly bullish with hints of neutrality.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price below its 50-period EMA and above its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is neutral (50.10)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.27                                    3: $0.227

 

The cryptocurrency sector was full of volatility today but ended the day with close to no gains. Bitcoin is currently trading for $13,561, representing an increase of 2.50% on the day. Meanwhile, Ethereum gained 0.01% on the day, while XRP lost 1.12%.

 Daily Crypto Sector Heat Map

None of the top100 cryptocurrencies gained much over the course of the day. NEM gained 3.57% in the past 24 hours, making it the crypto to gain the most in a day. Celsius (2.68%) and FTX Token (2.63%) also did great. On the other hand, yearn.finance lost 16.68%, making it the most prominent daily loser. It is followed by Ocean Protocol’s loss of 16.06% and Reserve Rights’ loss of 15.74%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level had increased since we last reported, with its value is currently 63.1%. This value represents a 0.8% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased slightly in the past 24 hours. Its current value is $399.63 billion, representing a $6.58billion increase compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Crypto Exchange FTX Launches Tesla, Amazon Stock Trading (Cryptobriefing)
• Bitcoin Hash Rate Drops as Chinese Miners Hunt for Cheaper Power (Cryptobriefing)
• Monero is Outpacing Litecoin and Bitcoin Cash as a Payment Crypto (Cryptobriefing)
• Chainlink oracles to bolster AML measures for Coinfirm’s DeFi solution (Cryptoslate)
• Forbes: Leaked document details Binance plan to avoid U.S. regulatory scrutiny (The Block)
• Uniswap’s $40M Governance Vote Closes on Halloween and Some UNI Holders Fear for Price (Coindesk)
• Tax professional reveals the most important thing for crypto holders from the US (Cointelegraph)
• Chinese city seeks to power its governance and more using blockchain tech (Cointelegraph)
• Japan is currently the ‘leading candidate’ for Ripple’s new headquarters (Cointelegraph)
• Declining DEX volumes reflect investors’ shift to Bitcoin, data shows (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had quite a volatile day, with its price bouncing back from the $13,180 resistance and pushing up. While the price has reached ~$13,700 level, it has pulled back since, currently contesting the $13,570 resistance.

Traders should look at Bitcoin contesting the $13,570 level and trade in whichever direction the price confirms its move in.

BTC/USD 4-hour Chart

Bitcoin’s 4-hour and weekly overviews are neutral bullish, while its daily and monthly overviews are tilted towards the buy-side with close to no neutrality.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far above its 50-period EMA and above its 21-period EMA
• Price slightly above its middle Bollinger band
• RSI is ascending towards overbought (59.94)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $13,570                                 1: $13,180

2: $13,900                                 2: $12,870

3: $14,000                                  3: $12,500

Ethereum

Ethereum had, just like Bitcoin, quite a volatile day today. Its price first bounced off of the ascending channel bottom line, which prompted a push towards $395 before falling yet again. As things stand now, the leg down is still not over yet, and Ethereum is yet to decide whether it will change its course towards the upside or break the channel down.

Traders should look for Ethereum’s response to the bottom channel line and trade in continuation to where it chooses to go.

ETH/USD 4-hour Chart

Ethereum’s technicals on all time-frames except for the 4-hour one are tilted towards the buy-side, with hints of neutrality. On the other hand, its 4-hour time-frame is tilted towards the sell-side with slight hints of neutrality.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is below its 50-period and its 21-period EMA
• Price is between its middle and bottom Bollinger band
• RSI is neutral (40.64)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $400                                     1: $378

2: $415                                     2: $371

3: $420                                      3: $361

Ripple

The fourth-largest cryptocurrency by market cap had a bad day, as its price dropped below the crucial $0.2454 support level. XRP tried to recover and went above it at one point but failed to keep the price above the level, therefore triggering another push towards $0.24, where it is currently consolidating.

It is hard to say how traders should look at XRP, though the outlook is certainly bearish. Any push towards the upside will almost certainly result from Bitcoin making a large move towards the upside.

XRP/USD 4-hour Chart

XRP’s technicals are uniformed in its bearishness, with the 1-day and monthly overviews showing a bit more neutrality than the others.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price well below both its 50-period EMA and its 21-period EMA
• Price is slightly above its bottom Bollinger band
• RSI is near oversold (35.97)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.2454                                 1: $0.235

2: $0.26                                     2: $0.227

3: $0.266                                  3: $0.221

 

The cryptocurrency sector quite a bad day, as Bitcoin led the rest of the sector down by dropping from $13,900 all the way to below $13,000. Bitcoin is currently trading for $13,240, representing a decrease of 3.70% on the day. Meanwhile, Ethereum lost 3.60% on the day, while XRP lost 2.93%.

 Daily Crypto Sector Heat Map

If we check out the top 100 cryptocurrencies, Ocean Protocol gained 11.69% in the past 24 hours, making it the crypto to gain the most in a day. Nexo (7.86%) and DigiByte (4.49%) also did great. On the other hand, ABBC Coin lost 12.3%, making it the most prominent daily loser. It is followed by Band Protocol’s loss of 11.46% and Quant’s loss of 11.36%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level had decreased slightly since we last reported, with its value is currently 62.3%. This value represents a 0.1% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has decreased significantly in the past 24 hours. Its current value is $393.05 billion, representing a $15.07 billion decrease compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Coinbase’s crypto debit card is launching in the U.S. and lets users earn back bitcoin (The Block)
• Bitcoin stolen during Kucoin exchange hack is being moved through transaction mixer: Elliptic (The Block)
• MakerDAO issues warning after a flash loan is used to pass a governance vote (The Block)
• Yearn.finance (YFI) now back at price parity with Bitcoin after spiking to $44k (Cryptoslate)
• Mastercard CEO bearish on Bitcoin, but sees the growth for CBDCs (Cryptoslate)
• Bitcoin’s organic valuation at its all-time high and it’s a bright mid-term sign (Cryptoslate)
• Why Ripple CEO Brad Garlinghouse is against Coinbase’s apolitical stance (Cryptoslate)
• News and Announcements Influence Crypto Prices, Says the TIE (Cryptobriefing)
• Avanti Financial Joins Kraken as a Wyoming-Approved Crypto Bank (Coindesk)
• Most DEXs are unsafe, alleges new report (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization pulled back as its price couldn’t pass the crucial resistance of $13,900. The move was strong and lasted three candles (around 12 hours), over which Bitcoin fell as low as $12,895, where it bounced off of its 50-period moving average. Bitcoin is now consolidating above the $13,180 level.

Traders should look at how Bitcoin trades within the range bound by $13,180 and $13,570 and trade off of that.

BTC/USD 4-hour Chart

Bitcoin’s 4-hour, daily, and monthly technicals are looking almost identical, with all of them being tilted towards the buy-side, with a bit of neutrality sprinkled in. On the other hand, its weekly overview is a bit more bearish, with oscillators leaning towards the sell-side.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (52.27)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $13,570                                 1: $13,180

2: $13,900                                 2: $12,870

3: $14,000                                  3: $12,500

Ethereum

Ethereum has followed Bitcoin to the downside, ultimately following its own predicted path within an ascending channel and reaching the bottom of $380 (as predicted in our previous articles) before bouncing back. It is currently trading slightly below $400, with a good chance of retesting this level once again.

Traders should watch for how Ethereum looks to retest the $400 resistance level and trade the pullback or the spike after that.

ETH/USD 4-hour Chart

Ethereum’s daily and monthly technicals are tilted towards the buy-side (with slight neutrality next to them). However, its shorter time-frame (the 4-hour overview) looks completely bearishness, while its weekly overview is completely neutral.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is below its 50-period and its 21-period EMA
• Price is slightly below its middle Bollinger band
• RSI is neutral (42.03)
• Volume is slightly above average

Key levels to the upside          Key levels to the downside

1: $400                                     1: $378

2: $415                                     2: $371

3: $420                                      3: $361

Ripple

The fourth-largest cryptocurrency by market cap managed to push above the ascending dotted yellow line (as predicted in our previous articles) but quickly failed as Bitcoin was dragging the market down. XRP followed and fell to its $0.2454 support level, which is holding for now. However, XRP is still quite close to the support level, which might break at any moment.

Traders should look for an entry if XRP breaks $0.2454 to the downside. When looking at trades to the upside, traders can look at Bitcoin’s upside pushes and trade off of that.

XRP/USD 4-hour Chart

XRP’s technicals are almost uniformed in how bearish they are, with its 4-hour, daily, and monthly overviews showing a slight tilt towards the sell-side. Its weekly overview, however, is completely neutral.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price far below both its 50-period EMA and its 21-period EMA
• Price is slightly above its bottom Bollinger band
• RSI is neutral (38.72)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.2855                                3: $0.227

 

The cryptocurrency sector had a great day, with most cryptocurrencies ending up in the green due to Bitcoin pushing towards $13,900. Bitcoin is currently trading for $13.720, representing an increase of 4.81% on the day. Meanwhile, Ethereum gained 3.63% on the day, while XRP gained 1.61%.

 Daily Crypto Sector Heat Map

If we check out the top 100 cryptocurrencies, Flexacoin had another amazing day, gaining an astonishing 332.35% in the past 24 hours, making it the crypto to gain the most in a day. Nexo (13.94%) and Compound (13.71%) also did great. On the other hand, ABBC Coin lost 13.58%, making it the most prominent daily loser. It is followed by Reserve CyberVein’s loss of 10.32% and Quant’s loss of 7.90%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level had increased quite a bit since we last reported, with its value is currently 62.4%. This value represents a 0.8% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has increased significantly since we last reported. Its current value is $408.12 billion, representing an increase of $13.35 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• This is the last major stop before Bitcoin price can target $20,000 (Cointelegraph)
• More Than Half of US Investors are Interested in Bitcoin, Grayscale Survey Finds (Coindesk)
• Market data indicates OKEx whales are expecting Bitcoin to spike past $14k (Cryptoslate)
• Ethereum Analytics Firm Nansen Secures $1.2 Million Seed Investment (Cryptobriefing)
• NEO Flashes Buy Signal as Crypto Market Turns Bullish (Cryptobriefing)
• Strong Fundamentals Push Bitcoin to New Yearly High (Cryptobriefing)
• Privacy Coin Zcoin Will Rebrand to Firo, Launching Key Network Upgrade (Cryptobriefing)
• Bitcoin hash rate drops over 10% as Chinese miners migrate to fossil fuel plants (The Block)
• JPMorgan is actively exploring digital asset custody, and is looking for help from crypto native firms (The Block)
• Crypto lender BlockFi now holds over 5% of Grayscale’s Bitcoin Trust shares (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization surprised the market once again by pushing even further up. Our weekly chart overview has listed a push towards $13,900 as one of the likely scenarios for this week, which is exactly what happened. Bitcoin has pushed past the descending (yellow dotted) line and above the $13,180 resistance level, all the way to $13,800.

Traders should look at how Bitcoin behaves around $13,900 and follow the next push (either a pullback below $13,570 or a break past $13,900).

BTC/USD 4-hour Chart

Bitcoin’s technicals have changed to extremely bullish on all time frames since yesterday, with only the 4-hour chart oscillators showing some signs of a tilt towards the sell-side.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far above both its 50-period EMA and its 21-period EMA
• Price is at its top Bollinger band
• RSI is overbought (74.76)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $13,570                                 1: $13,200

2: $13,900                                 2: $12,870

3: $14,000                                  3: $12,500

Ethereum

Ethereum has spent the day bouncing off of the support level dating back from early September. While Ether had a slightly bigger chance of continuing its path down the projected path towards the bottom of the channel, Bitcoin’s rise sparked up Ether’s bounce. Its price is now hovering slightly above $400, with a solid chance of testing $415 again.

Traders should watch for how Ethereum plays out in the next few days to evaluate if it pushes towards $415-$420 or goes below $400.

ETH/USD 4-hour Chart

Ethereum’s technicals are tilted towards the buy-side on all time-frames, but only the daily time-frame is completely bullish. On the other hand, the 4-hour, weekly, and monthly overviews have signs of neutrality, mostly when it comes to oscillators.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and slightly above its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (55.78)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $415                                     1: $400

2: $420                                     2: $378

3: $435                                      3: $371

Ripple

The fourth-largest cryptocurrency by market cap has stayed at the same place over the course of the past 24 hours, possibly preparing itself for a move towards the yellow ascending line. Even if it keeps following it, XRP will gain a significant boost in price and an opportunity to test $0.26 once again.

Traders should look for a trade when XRP reaches $0.26, as they can enter a trade on either the pullback or the push above.

XRP/USD 4-hour Chart

XRP’s technicals are slightly tilted towards the buy-side, but the 1-day, as well as 4-hour and weekly technicals, show slight neutrality. On the other hand, its monthly overview is still bearish.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price at both its 50-period EMA and its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (50.04)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.2855                                3: $0.227

 

The cryptocurrency sector spent the day with cryptocurrencies trying to find consolidation points as preparation for Bitcoin’s next move. Bitcoin is currently trading for $13.049, representing an increase of 0.61% on the day. Meanwhile, Ethereum lost 2.74% on the day, while XRP lost 1.73%.

 Daily Crypto Sector Heat Map

If we check out the top 100 cryptocurrencies, Flexacoin gained an astonishing 144.03% in the past 24 hours, making it the crypto to gain the most in a day. Kusama (28.07%) and Ocean Protocol (20.44%) also did great. On the other hand, Quant lost 13.61%, making it the most prominent daily loser. It is followed by Reserve Rights’ loss of 10.28% and Cybervein’s loss of 8.60%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level had increased slightly since we last reported, with its value is currently 61.6%. This value represents a 0.5% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has stayed at the same place since we last reported. Its current value is $394.54 billion, representing an increase of $1.86 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Swiss central bank, BIS, plan to test digital currency by the end of this year (The Block)
• Why PayPal might be interested in BitGo (The Block)
• 3 critical points from JP Morgan’s bullish Bitcoin report (Cryptoslate)
• Uniswap volumes bump to $2 billion after attack on DeFi project Harvest Finance (Cryptoslate)
• Why major Bitcoin futures exchange Bybit is integrating Chainlink price feed (Cryptoslate)
• Massive Supply Barrier Is Keeping Cardano Prices From Breaking Out (Cryptobriefing)
• XRP on Shaky Ground After Dropping 6 Points in Latest Correction (Cryptobriefing)
• Number of Bitcoin ‘Whale’ Addresses at Highest Since Autumn 2016 (Coindesk)
• Exit scams and regulations disrupt global darknet markets (Cointelegraph)
• BTC hash rate slumps amid seasonal miner migration in China (Cointelegraph)

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Technical analysis

_______________________________________________________________________

Bitcoin

 

The largest cryptocurrency by market capitalization has spent the past 24 hours slowly gaining value and reaching the $13,180 mark. However, it managed to make (at the moment) the third lower high in a row, creating a short-term bearish indicator. The decaying volume, as well as an increase in sell pressure around the $13,200 level, supports the claim that Bitcoin is more likely to retrace first before moving up.

Traders should pay attention to how BTC approaches $13,180 and if it (more likely) enters a price correction phase, or if it rather (less likely) pushes past $13,180 and towards #13,900.

BTC/USD 4-hour Chart

Bitcoin’s technicals are a bit more bearish than the day before, despite its price being a bit higher. Its 4-hour, daily and weekly overviews all have sell-tilted oscillators and buy-tilted moving averages, while the overall summary is slightly bullish. The monthly overview is still fully bullish.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and its 21-period EMA
• Price is slightly above its middle Bollinger band
• RSI is slightly below being overbought (61.54)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $13,200                                 1: $12,870

2: $13,900                                 2: $12,500

3: $14,000                                  3: $12,300

Ethereum

Ethereum has spent the day following its ascended trading channel but to the downside. The second-largest cryptocurrency by market cap bounced off of the $420 highs as it couldn’t pass either of the $415 and $420 resistance levels and pushed towards the downside. The move will most likely end somewhere between $400 and $378. However, if Bitcoin pushes towards the upside, Ethereum will most likely abandon its current pattern and trade alongside it.

Traders should watch for how Ethereum retraces and what it does after, as many safe trading patterns may emerge from that.

ETH/USD 4-hour Chart

Ethereum’s technicals are quite confusing, as its 4-hour overview is completely bearish, while its daily overview is completely bullish. Its weekly and monthly overviews are tilted towards the buy-side, but the weekly one is slightly more neutral.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is below both its 50-period and its 21-period EMA
• Price is at its lower Bollinger band
• RSI is nearly oversold (38.94)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $415                                     1: $400

2: $420                                     2: $378

3: $435                                      3: $371

Ripple

The fourth-largest cryptocurrency by market cap trying to decide its direction. Its price started to fall down after it failed to break $0.26, but it was expected for the ascending trend line (yellow dotted line) to hold at least for a bit more. However, XRP quickly broke that level to the downside, opening itself towards more possibility of moving down.

On the other hand, some people call the most recent moves a bull flag and are entering long positions. While this is unlikely, all traders must be aware of and respect this stance as well before entering their own trades.

XRP/USD 4-hour Chart

XRP’s technicals split into two sides, with the 4-hour and monthly overviews being tilted towards the sell-side and daily and weekly overviews being tilted towards the bull-side (with a bit of neutrality).

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price slightly below both its 50-period EMA and its 21-period EMA
• Price is between its lower and middle Bollinger band
• RSI is ascending (42.18)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.2855                                3: $0.227

 

The cryptocurrency sector spent the weekend hovering around the same spot as Bitcoin was testing its ~$13,000 level. Bitcoin is currently trading for $13.049, representing a decrease of 0.80% on the day. Meanwhile, Ethereum lost 1.52% on the day, while XRP gained 0.18%.

 Daily Crypto Sector Heat Map

If we check out the top 100 cryptocurrencies, Flexacoin gained an astonishing 171.94% in the past 24 hours, making it the crypto to gain the most in a day. Filecoin (56.89%) and Reserve Rights (13.22%) also did great. On the other hand, Energy Web Token lost 7.94%, making it the most prominent daily loser. It is followed by Cosmos’ loss of 5.78% and ABBC Coin’s loss of 5.71%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level had increased slightly since when we last reported, with its value is currently 61.1%. This value represents a 0.3% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has stayed at the same place since we last reported. Its current value is $396.38 billion, representing an increase of $1.83 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Decentralized protocol Kyber launches new framework to facilitate on-chain market making (The Block)
• The United States is the country of choice for most institutional crypto trading service providers (The Block)
• Open interest on Augur prediction markets passes $1M (The Block)
• Tezos’ XTZ Faces Uphill Battle After Massive 58% Correction (Cryptobriefing)
• DeFi Total Value Locked Reaches $12.5B All-Time High Despite Cooling Hype (Cryptobriefing)
• US Regulators May Soon Collect Data on All Crypto Transactions Above $250 (Cryptobriefing)
• Top DeFi coins Yearn.finance (YFI) and AAVE rip 10% higher as Bitcoin holds $13k (Cryptoslate)
• Bitcoin breaking $14,000 will bring a new “regime” of market dynamics (Cryptoslate)
• Bitcoin’s Rivalry With Gold Plus Millennial Interest Gives It ‘Considerable’ Upside Potential: JPMorgan (Coindesk)
• Tether’s general counsel doubles down on its support for Peter McCormack (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the weekend hovering around the $13,000 mark, and even attempted to break through the $13,200 resistance level (but failed to). With the volume is descending ever since Oct 21, most analysts are expecting a big move very soon. However, they are torn when it comes to the direction.

Traders should pay attention to how BTC handles its push towards the resistance level, as there might be good trading opportunities after (more likely) the level holds and a pullback occurs, or after BTC breaks the level and pushes higher (less likely).

BTC/USD 4-hour Chart

Bitcoin’s sentiment is highly bullish, with its shorter time-frames showing a bigger tilt towards neutrality, while its longer time-frames are more titled to the buy-side.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far above its 50-period EMA and slightly above its 21-period EMA
• Price is at its middle Bollinger band
• RSI is slightly below being overbought (62.22)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $12,870                                 1: $12,500

2: $13,200                                 2: $12,300

3: $14,000                                  3: $12,000

Ethereum

Ethereum has continued its descent from the highs it made on Oct 22, with its price moving slowly towards the downside. The smaller time-frame charts are showing that ETH kept creating new lower highs, with one (failed) attempt to break out of the trend. The next couple of hours will be crucial, as Ethereum is about to hit the trend line, break it or continue pushing down towards $400.

Traders should watch for how Ethereum reacts to the descending trend line and trade off of it.

ETH/USD 2-hour Chart

Ethereum’s technicals are tilted towards the buy-side on all time-frames, with its lower time frames being slightly more neutral.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and slightly above its 21-period EMA
• Price is at its Bollinger band
• RSI is overbought (52.24)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $415                                     1: $400

2: $420                                     2: $378

3: $435                                      3: $371

Ripple

The fourth-largest cryptocurrency by market cap spent the weekend testing its ascending support level (the dotted yellow line), which dates back from Oct 16. XRP has slowly descended from its most recent highs and reached the support line at the ~$0.252 level. The line provided good support, and XRP shot up as a result of it. However, it could not break the $0.26 resistance level, which may prove a problem in the long run.

XRP is unlikely to pass $0.26 unless it is fueled by Bitcoin’s push towards the upside. The more likely scenario would be that XRP hovers between the support line and the $0.26 level for some time.

XRP/USD 4-hour Chart

XRP’s technicals are bullish with hints of neutral sentiment on the 4-hour, 1-day, and 1-week time-frames, while its monthly time-frame shows strong bearish sentiment.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price above both its 50-period EMA and its 21-period EMA
• Price is near its top Bollinger band
• RSI is ascending (58.25)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.2855                                3: $0.227

 

The cryptocurrency sector was mostly consolidating after Bitcoin’s surge, with almost every single cryptocurrency in the top100 ending up in the green. Bitcoin is currently trading for $12,961, representing an increase of 1.21% on the day. Meanwhile, Ethereum gained 5.64% on the day, while XRP gained 2.34%.

 Daily Crypto Sector Heat Map

If we check out the top 100 cryptocurrencies, Ampleforth gained 19.04% in the past 24 hours, making it the crypto to gain the most in a day. Energy Web Token (17.44%) and Reserve Rights (12.20%) also did great. On the other hand, Filecoin lost 13.57%, making it the most prominent daily loser. It is followed by HedgeTrade’s loss of 8.57% and ABBC Coin’s loss of 8.49%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level had decreased slightly since when we last reported, with its value is currently 60.8%. This value represents a 0.4% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has experienced an increase since we last reported. Its current value is $394.96 billion, representing an increase of $4.72 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin’s market run-up sends options to an all-time high for open interest (The Block)
• Crypto firms have granted millions to Bitcoin developers in recent months. Here’s why (The Block)
• Filecoin miners will now receive 25% of block rewards immediately with no vesting period (The Block)
• Waves announces ERC20 interoperability with Ethereum network (Cryptoslate)
• Bitcoin Pullback on Horizon as Key Indicator Flashes Overbought (Cryptobriefing)
• Following 60% Retracement, VeChain Screams Buy as Technicals Turn Bullish (Cryptobriefing)
• PayPal Rumored to Buy BitGo Days After Launching Bitcoin Services (Cryptobriefing)
• Hedge Fund Billionaire Tudor Jones Says Bitcoin Rally Only in ‘First Inning’: Report (Coindesk)
• Top traders say that BTC log chart points to a 2017-style Bitcoin bull run (Cointelegraph)
• Not everyone in the crypto sector is thrilled about PayPal’s recent news (Cointelegraph)

While most of the market rejoices Bitcoin’s surge, confirmation of a bull market, and PayPal enabling its users to buy, sell and hold crypto, not everyone is equally happy. Some analysts have pointed out that PayPal will almost certainly bring adoption, but perhaps at a steep price. If the payment processor giant doesn’t get involved in the community and refuses to give private keys to its users, the benefits may not outweigh the setbacks.

With that being said, additional adoption and introduction of Bitcoin to the wider masses is certainly a positive thing.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization stayed strong after yesterday’s push and even gained some more value. The price pushed past $13,000 once again but couldn’t hold the level, which prompted a pullback towards the sub-$13,000 level. However, the $12,870 level has turned to a support level (though it still needs proper confirmation), which is certainly positive.

At the moment, traders should look Bitcoin’s pullback and trade-off of that. However, if Bitcoin manages to push past $13,000 with confidence, traders shouldn’t wait much but rather join in quickly.

BTC/USD 4-hour Chart

Bitcoin’s technical overview has a strong bullish sentiment on longer time-frames (weekly and monthly), while its short-term sentiment is slightly more neutral.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far above its 50-period EMA and at its 21-period EMA
• Price between its middle and top Bollinger band
• RSI is overbought but descending(73.99)
• Volume is extremely elevated

Key levels to the upside          Key levels to the downside

1: $12,870                                 1: $12,500

2: $13,200                                 2: $12,300

3: $14,000                                  3: $12,000

Ethereum

Ethereum’s push from yesterday was just a weaker iteration of Bitcoin’s push. However, the second-largest cryptocurrency by market cap has pushed further towards the upside on its own today, testing the $415 and $420 levels. While tests towards both levels failed, Ethereum is still very near $415 and may have the opportunity to strike again, or just consolidate near this level.

Traders should pay attention to Ethereum’s pullback towards $400 or push past $415 and trade off of that.

ETH/USD 4-hour Chart

Ethereum’s technicals are slightly confusing, as its 4-hour overview is completely bullish, while its daily overview is neutral-bullish. However, its long term technicals all tilt towards the buy-side.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is far above its 50-period and its 21-period EMA
• Price is near the top Bollinger band
• RSI is overbought (75.95)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $415                                     1: $400

2: $420                                     2: $378

3: $435                                      3: $371

Ripple

The fourth-largest cryptocurrency by market cap had a day filled with volatility, ups, and downs. XRP started the day off strong with a push past $0.26 and towards $0.266. However, bulls have reached exhaustion quickly, and bears stepped in, pulling the price back down to $0.257, where XRP is now consolidating.

XRP has a high-resistance zone above $0.26, which we have seen today as well. For this reason, it is much more plausible that XRP will push towards the downside and retest the $0.25 or $0.2454 levels.

XRP/USD 4-hour Chart

XRP’s technicals are extremely bullish on the 4-hour and 1-day chart, while they are tilting towards the sell-side the longer time-frame we choose.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price far above its 50-period EMA and above its 21-period EMA
• Price is between its middle and top Bollinger band
• RSI has left the overbought territory (61.12)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.2855                                3: $0.227

 

The cryptocurrency sector has rallied up and skyrocketed as PayPal announced that it will now support cryptocurrencies. Bitcoin has led the rally with an almost double-digit increase. It is currently trading for $12,886, representing an increase of 7.25% on the day. Meanwhile, Ethereum gained 6.69% on the day, while XRP gained 4.78%.

 Daily Crypto Sector Heat Map

If we check out the top 100 cryptocurrencies, we can see that Reserve Rights gained 45.36% in the past 24 hours, making it the top daily gainer. Litecoin (16.03%) and Ampleforth (14.02%) also did great. On the other hand, ABBC Coin lost 18.97%, making it the most prominent daily loser. It is followed by Filecoin’s loss of 14.56% and The Midas Touch Gold’s loss of 7.03%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level had increased slightly since when we last reported, with its value is currently 61.2%. This value represents a 0.7% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has experienced a huge increase since we last reported. Its current value is $390.24 billion, representing an increase of $23.98 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• PayPal to enable users to buy, sell, and hold crypto assets, fueling strong Bitcoin momentum (Cryptoslate)
• Recently authorized patents shed light on the surveillance capabilities of China’s digital currency (The Block)
• BitMEX executives strike a positive note about the exchange’s future amid U.S. legal woes (The Block)
• CFTC officials publish new crypto advisory for futures commission merchants (The Block)
• Investors in Disbelief as Cardano Prepares to Break Out (Cryptobriefing)
• Wrapped Zcash Now Available on Ethereum (Cryptobriefing)
• Ethereum and XRP Follow Bitcoin’s Steps After Its Breakout to New Yearly Highs (Cryptobriefing)
• Bitcoin Rallies Above $13K Less Than 24 Hours After Breaking 2020 Highs (Coindesk)
• Nigeria Protests Show Bitcoin Adoption Is Not Coming: It’s Here (Coindesk)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has had quite an amazing day filled with volatility and extremely high bull presence. Fueled by PayPal’s announcement that it will enable its users to buy,  sell and hold crypto,  Bitcoin skyrocketed and reached as high as $13,235 before pulling back. It’s currently trying to consolidate just under the $12,870 resistance level.

Any skepticism regarding whether the bull market has started has been shattered with Bitcoin’s most recent move. However, while this move was intense, Bitcoin will need a lot of great news, adoption, and ultimately time to reach its all-time highs.

At the moment, traders should look at how Bitcoin handles the pullback and trade-off of that.

BTC/USD 1-day Chart

Bitcoin’s technical overview is very strongly tilted towards the buy-side on longer time-frames (weekly and monthly), while its short-term overviews are slightly more neutral.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far above its 50-period EMA and at its 21-period EMA
• Price above its top Bollinger band
• RSI is extremely overbought (81.74)
• Volume is extremely elevated

Key levels to the upside          Key levels to the downside

1: $12,870                                 1: $12,500

2: $13,200                                 2: $12,300

3: $14,000                                  3: $12,000

Ethereum

Ethereum has followed Bitcoin’s lead and pushed towards the upside, though with much less strength. Its price ultimately reached the $400 resistance before pulling back slightly. It is currently trying to consolidate right under the $400 level, which is still a great increase in price since yesterday when Ether was fighting to stay above $378.

Ethereum traders should pay attention to how the second-largest cryptocurrency by market cap handles its immediate resistance level, as well as an eventual further pullback.

ETH/USD 4-hour Chart

Ethereum’s technicals on all time-frames show bullishness, with its 4-hour and long-term technicals being a bit more tilted towards the neutral position, while its 1-day overview is completely bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is far above its 50-period and its 21-period EMA
• Price is at the top Bollinger band
• RSI is close to overbought (66.91)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $400                                     1: $378

2: $415                                     2: $371

3: $420                                      3: $360

Ripple

The fourth-largest cryptocurrency by market cap has, like yesterday, used the momentum that Bitcoin has provided to push further up. Its price has established itself above the $0.2454 support level and pushed past $0.25. However, the $0.26 resistance level has not fallen, and XRP is now consolidating at the ~$0.255 level.

XRP’s upside is a zone of strong resistance, which this cryptocurrency will hardly surpass without Bitcoin’s push. XRP traders should pay attention to Bitcoin’s moves while focusing on XRP’s moves towards the downside.

XRP/USD 4-hour Chart

XRP’s technicals have changed quite a bit since our last report. Its 4-hour, 1-day, and weekly overviews are strongly tilted towards the buy-side, while its monthly overview is still bearish with a slight hint of neutrality.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price far above its 50-period EMA and above its 21-period EMA
• Price is at its top Bollinger band
• RSI is close to overbought (65.61)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.2855                                3: $0.227

 

The cryptocurrency sector was mostly in the red until Bitcoin took the day to push past $12,000, after which some cryptos started following it towards the upside. Bitcoin is currently trading for $12.234, representing an increase of 4.21% on the day. Meanwhile, Ethereum gained 0.40% on the day, while XRP lost 0.31%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that Nano gained 6.94% in the past 24 hours, making it the top daily gainer. Aave (5.59%) and OKB (5.41%) also did great. On the other hand, NXM lost 13.92%, making it the most prominent daily loser. It is followed by Reserve Rights’ loss of 13.85% and Arweave’s loss of 12.59%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has increased slightly since when we last reported, with its value is currently 60.5%. This value represents a 1% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has stayed at the same spot since we last reported. Its current value is $366.26 billion, representing an increase of $0.79 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• $5 million penalty proposed between SEC and Kik to end ICO lawsuit (The Block)
• Bitcoin’s ETF chances are improving as global crypto regulation increases (Cryptoslate)
• Founder of DeFi’s Yearn.finance (YFI) just launched another Ethereum experiment (Cryptoslate)
• Bitcoin ETP volumes grew in October amidst institutional demand (Cryptoslate)
• Uniswap network fees remain “attractive” despite plunging UNI price (Cryptoslate)
• Chainlink’s Latest Downtrend Eases as Whales Buy Up Discount Tokens (Cryptobriefing)
• Dash Joins Ethereum’s DeFi, Letting Users Earn Both Node Rewards and Yield (Cryptobriefing)
• CBDCs Mean Evolution, Not Revolution (Coindesk)
• Validators Drop Off Ethereum 2.0 Testnets as Mainnet Release Looms (Coindesk)
• OKEx users express frustration over suspended withdrawals (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization is pushing past its psychological and actual major resistance of $12,000 right at this moment. The move started slow, with one candle testing the waters above $12,000 before backing out, before bulls went head-on and pushed the move quickly to far above this level. At the moment, Bitcoin has stopped its push at just above $12,250.

Traders should pay attention to hot Bitcoin finishes this move and trade either the pullback or the next wave up.

BTC/USD 1-day Chart

Bitcoin’s technical overview is strongly tilted towards the buy-side, with lower time-frames showing some signs of neutrality, while longer time-frames are completely bullish.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is far above its 50-period EMA and at its 21-period EMA
• Price above its top Bollinger band
• RSI is extremely overbought (80.30)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $12,330                                 1: $12,000

2: $12,500                                 2: $11,850

3: $12,870                                  3: $11,735

Ethereum

Ethereum’s price was pretty much stagnant until Bitcoin broke $12,000, which is when the second-largest cryptocurrency by market cap started pushing up as well. The price has slowly pushed past $371 and then explosively past $378, which is where it is at the moment.

Traders should pay attention to how ETH tries to establish itself above $378, and trade off of it.

ETH/USD 4-hour Chart

Ethereum’s 4-hour technicals are showing a tilt towards the sell-side, while its 1-day overview is still bullish. When taking a look at its longer time-frames, we can see heavy neutrality, but still overall bulishness.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and its 21-period EMA
• Price is near the top Bollinger band
• RSI is neutral (56.02)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $400                                     1: $378

2: $415                                     2: $371

3: $420                                      3: $360

Ripple

The fourth-largest cryptocurrency by market cap used the momentum Bitcoin’s move has created to push past its $0.2454 resistance once again after falling below it the day before. While this is a great thing, XRP couldn’t pass its previous resistance level of $0.25, which caused it to retest the support level. If it drops below $0.2454 again, bears may gather in a larger number and XRP might push down towards $0.235

XRP/USD 4-hour Chart

XRP’s technicals are quite mixed up, with its 4-hour and weekly overviews showing signs of bullish sentiment, while its daily and monthly overviews are tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is at its 50-period EMA and above its21-period EMA
• Price is near its top Bollinger band
• RSI is neutral (53.64)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.2855                                3: $0.227

 

The cryptocurrency sector has pushed towards the upside as Bitcoin reached $11,850. Bitcoin is currently trading for $11,741, representing an increase of 2.22% on the day. Meanwhile, Ethereum gained 0.50% on the day, while XRP gained 1.69%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that Dash gained 11.62% in the past 24 hours, making it the top daily gainer. Stellar (7.37%) and Quant (6.5%) also did great. On the other hand, Aave lost 10.73%, making it the most prominent daily loser. It is followed by Crypto.com Coin’s loss of 10.06% and NEAR Protocol’s loss of 9.3%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has increased slightly since our last report, with its value is currently 59.5%. This value represents a 0.7% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost a bit of its value since Friday. Its current value is $365.47 billion, representing a decrease of $4.35 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Bitcoin mine in Bulgaria seized in crackdown on transnational crime organization QQAAZZ (The Block)
• FinCEN hits bitcoin mixing service operator with $60 million penalty for BSA violations (The Block)
• Fed chair Powell Saus Tjat A central bank digital currency could improve the payment system in the US (The Block)
• Critical Ethereum Pullback Offers Sidelined Investors Long Entry (Cryptobriefing)
• Whales are Loading Up on XRP, price Aiming for $0.30? (Cryptobriefing)
• Asset manager: Activist investors may save Ethereum DeFi token Curve (CRV) as token price hits all-time lows (Cryptoslate)
• This user lost $1m of top DeFi coin Aave (AAVE) by accident: here’s why (Cryptoslate)
• Cryptographers Will Always Be ‘One Step Ahead’ of Regulators – Monero’s Spagni (Coindesk)
• Filecoin creator denies strike allegations (Cointelegraph)
• French Finance Minister throws shade at crypto, praises blockchain (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has pushed past its major resistance sitting at $11,500. The push was accompanied by a major volume increase, which brought Bitcoin’s price to as high as $11,850 before dropping back down to sub-$11,800.


This new spike has put Bitcoin at above 60% year-to-date gains. On top of that, Bitcoin is on track to challenge (and even pass) $12,000, which is a crucial resistance. With the price ignoring all indicators showing that it would bounce back down and pull away from its highs, it does quite the opposite. This inspired many analysts to call for Bitcoin at over $12,000 even by the end of the month.

BTC/USD 1-day Chart

Bitcoin’s technical overview is heavily tilted towards the buy-side, with every single time-frame showing almost no signs of neutrality.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and at its 21-period EMA
• Price near its top Bollinger band
• RSI is pushing towards the overbought area (63.99)
• Volume is descending after a major spike

Key levels to the upside          Key levels to the downside

1: $11,735                                 1: $11,630

2: $11,850                                 2: $11,500

3: $12,000                                  3: $11,300

Ethereum

Ethereum’s price moved towards the downside throughout the past week, but then rebounded after hitting the $361 support level and began a slow push towards the upside. Ethereum bulls were patient and slowly took over first the $371 resistance level and now the $378 level, turning them both into support. In both cases, the push was just enough to bring the price above these levels, but the consolidation phase always ended with Ether’s price above its newly found support.

The fundamentals surrounding Ethereum are (at the moment) looking particularly strong as investors are expecting a successful launch of Ethereum 2.0.

ETH/USD 4-hour Chart

Ethereum’s technicals are showing a tilt towards the buy-side on all time-frames. However, while its lower time-frames are being more positive, its longer time-frames are being a bit more neutral (mostly oscillators).

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and its 21-period EMA
• The price between its middle and top Bollinger band
• RSI is neutral (57.27)
• Volume is descending from a spike

Key levels to the upside          Key levels to the downside

1: $400                                     1: $378

2: $415                                     2: $371

3: $420                                      3: $360

Ripple

The fourth-largest cryptocurrency by market cap has unexpectedly pushed towards the upside as XRP whales reemerged and went on a buying spree. The most recent upswing has put XRP above the $0.2454 level, which has proven itself both as strong support and resistance level. At the time of writing, XRP seems like it will stay above the level, even though most of its indicators are showing a strong possibility of price pulling back a bit more.

Traders should pay attention to how XRP handles the $0.2454 support level and trade it as XRP bounces up or breaks below it.

XRP/USD 4-hour Chart

XRP’s technicals are quite mixed up. While its 4-hour overview is neutral-bullish, its 1-day chart is completely bearish. On the other hand, its weekly overview is tilted towards the buy-side, while its monthly overview is quite neutral, but still leaning slightly towards the bear side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is at its 50-period EMA and above its21-period EMA
• Price is near its top Bollinger band
• RSI is neutral (53.39)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $0.26                                     1: $0.2454

2: $0.266                                   2: $0.235

3: $0.2855                                3: $0.227

 

The cryptocurrency sector has spent the weekend pushing towards higher highs but ultimately being stopped out at the most recent highs. Bitcoin is currently trading for $11,471, representing an increase of 0.71% on the day. Meanwhile, Ethereum gained 1.63% on the day, while XRP gained 0.35%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that UMA gained 24.3% in the past 24 hours, making it the top daily gainer. Aave (19.42%) and Reserve Rights (14.8%) also did great. On the other hand, Filecoin lost 23.88%, making it the most prominent daily loser. It is followed by Crypto.com Coin’s loss of 8.92% and Waves’ loss of 4.28%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has increased slightly since our last report, with its value is currently 58.9%. This value represents a 0.2% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost a bit of its value since Friday. Its current value is $361.12 billion, representing a decrease of $1.44 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Stablecoin supply has surged past $20 billion, driven by the derivatives market (The Block)
• New data show how dominant Tether has become as a trading pair on crypto exchanges (The Block)
• Nearly $900 million in VC went to crypto companies in the third quarter of 2020 (The Block)
• Data firm: OKEx saw $113m in Bitcoin outflows just before suspending withdraws (Cryptoslate)
• Why Filecoin’s hyped token launch was a multimillion “failure” (Cryptoslate)
• Monero Scales Up 10% With Latest Upgrade (Cryptobriefing)
• Bitcoin Takes One Step Closer to becoming More Scalable and Private Future (Cryptobriefing)
• NuCypher Launches Mainnet, Distributes $45M in Tokens to Nodes (Cryptobriefing)
• Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps (Coindesk)
• With job listing, Canada’s central bank takes additional steps towards a CBDC (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent its weekend building up a bull presence and trying to push towards (and past) the $11,500 resistance level. However, the move failed, and Bitcoin is now trading just under the resistance line. With that being said, the volume that followed this move was incredibly low, which implies that a bigger move is ahead, and that traders should pay attention to what happens with the volume in the near future.

Bitcoin will most likely either go up or stay above $11,300, as many analysts say that Bitcoin is done with its sub-$11,000 area. However, we do have to pay attention to the Bitcoin CME Futures Gap.

BTC/USD 1-day Chart

Bitcoin’s technical overview is tilted towards the buy-side on every single time-frame. While its 4-hour and 1-day time-frames are showing neutral bullishness, its weekly and monthly sentiment is extremely positive.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and at its 21-period EMA
• Price near its top Bollinger band
• RSI is neutral (57.29)
• Volume is below average and descending

Key levels to the upside          Key levels to the downside

1: $11,500                                 1: $11,300

2: $11,630                                 2: $11,180

3: $12,000                                  3: $11,000

Ethereum

Ethereum’s price movement throughout the weekend looked a lot like Bitcoin’s, but with a twist. The second-largest cryptocurrency by market cap moved towards the downside and (just like Bitcoin) created three lower highs on the way down. However, unlike Bitcoin, Ethereum has broken the downtrend and shot up in recent hours, though only to be stopped by the $378 resistance level. While there is still a chance for Ethereum to break this level, it will most likely be stuck below it (possibly within a range bound by $371 and $378) in the short-term.

ETH/USD 4-hour Chart

Ethereum’s technicals are showing a tilt towards the buy-side on all time-frames, with lower time-frames being more positive, while longer time-frames being more tilted towards the neutral stance (mostly oscillators).

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and its 21-period EMA
• The price at its middle Bollinger band
• RSI is neutral (54.55)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $360

3: $415                                      3: $334

Ripple

XRP spent the weekend mostly trading sideways or rising a little after a whole week of price drops. The fourth-largest cryptocurrency by market capitalization fell under the $0.2454 and stayed below it over the weekend, and even though it is moving towards it, the current volume would not support a break of such a major resistance level.

Many analysts are calling for even more downward movement from XRP, justifying it by saying that this is a continuation of a trend dating back from 2018. The reduced volatility and range-bound trading seem to be confirming this thesis.

XRP/USD 4-hour Chart

XRP’s technicals are extremely bearish. Its 4-hour and daily sentiment being tilted towards the sell-side fully, while its weekly and monthly overviews are showing some signs of neutrality, though they are also heavily bearish.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is below both its 50-period EMA and its 21-period EMA
• Price is at its middle Bollinger band
• RSI is neutral (42.17)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $0.2454                                 1: $0.235

2: $0.26                                     2: $0.227

3: $0.266                                  3: $0.221

 

The cryptocurrency sector has spent the day trying to push higher highs but failed as Bitcoin didn’t make it above $11,500. Bitcoin is currently trading for $11,486, representing an increase of 0.65% on the day. Meanwhile, Ethereum lost 0.64% on the day, while XRP lost 1.42%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that Filecoin gained an astonishing 120.78% in the past 24 hours, making it the top daily gainer. ABBC Coin (39.25%) and Blockstack (9.35%) also did great. On the other hand, Aave lost 15.89%, making it the most prominent daily loser. It is followed by Arweave’s loss of 14.13% and Synthetix Network Token’s loss of 8.96%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has stayed at the same level since our last report, with its value currently being 58.7%. This value represents a 0% difference when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gained a bit of its value over the course of the past 24 hours. Its current value is $362.56 billion, representing an increase of $1.46 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Libra hires another HSBC alum as its CFO and CRO (The Block)
• Coinbase to sponsor Bitcoin core developers for the first time (The Block)
• Bahamas central bank officials say the digital ‘Sand Dollar’ will eventually work internationally (The Block)
• $257 Million ICO Project Filecoin Goes Live After 3 Long Years (Cryptobriefing)
• Nearly 2,000 Accounts Compromised in Latest Robinhood Hack (Cryptobriefing)
• Associated Press to Publish U.S. Election Results on EOS Blockchain (Cryptobriefing)
• These 3 long-term indicators show Ethereum has “never been healthier” (Cryptoslate)
• Fed Chairman Powell to Speak About Digital Currencies Next Week at IMF (Coindesk)
• ‘Shorts will be dead’ — Why Dan Tapiero expects a massive Bitcoin shortage (Cointelegraph)
• Bitstamp says its users are now covered against a broad web of crime (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The oldest cryptocurrency spent the past 24 hours trying to push past the $11,500 resistance. While the fight for it still continues, there is a strong possibility that Bitcoin will actually stabilize its price above it. If that happens, bulls might come in even stronger and push the price towards $11,630, or even $11,730.

If, however, Bitcoin moves back below $11,500, the sentiment won’t change to a lot more bearish one, as Bitcoin is used to trading above $11,300 as of lately.

BTC/USD 1-day Chart

Bitcoin’s technical overview is extremely bullish on every single time-frame for almost a month now, with longer time-frames showing complete bullish sentiment, while the shorter ones are slightly less tilted towards the buy-side.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and at its 21-period EMA
• Price near its top Bollinger band
• RSI is neutral (60.70)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $11,500                                 1: $11,300

2: $11,630                                 2: $11,180

3: $12,000                                  3: $11,000

Ethereum

Unlike Bitcoin that tried to push towards its resistance level, Ethereum spent the day fighting to stay above the $378 level it recently fell under. The second-largest cryptocurrency by market cap tested the $371 support level, which held up quite nicely and attempted a push towards (now) resistance level of $378. While the fight for it still lasts, Ethereum will most likely end up above it if Bitcoin’s price doesn’t drop and pull ETH alongside.

ETH/USD 4-hour Chart

Ethereum’s technicals on all time-frames are a varying degree of bullish. While its 4-hour and monthly overviews are a bit more neutral, its daily and weekly overviews are strongly tilted towards the buy-side.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and right at its 21-period EMA
• The price at its middle Bollinger band
• RSI is neutral (54.03)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $360

3: $415                                      3: $334

Ripple

XRP has spent the past 24 hours continuing its drop towards the $0.2454 support level. XRP is approaching a quarterly price drop of 20% if the price breaks to the downside. However, so far, the $0.2454 support level is holding up, and XRP bears are not able to break it. If the support level break, we can expect XRP to move towards $0.235.

Traders should either wait for a bounce towards the upside (less likely and riskier) or wait for a possible break below $0.2454 to trade alongside the strong move to the downside.

XRP/USD 4-hour Chart

XRP’s technicals have changed the sentiment to quite bearish in the past couple of days. While its monthly sentiment was bearish for a while, its 4-hour and 1-day overviews have turned completely towards the sell-side. On the other hand, XRP’s weekly overview is still slightly bullish.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is below both its 50-period EMA and its 21-period EMA
• Price is slightly above its lower Bollinger band
• RSI is neutral (40.83)
• Volume is average (except for a couple of huge volume candle)

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector has spent the day trying to find a point of consolidation. However, most cryptocurrencies did end up in the red. Bitcoin is currently trading for $11,412, representing a decrease of 0.38% on the day. Meanwhile, Ethereum lost 1.28% on the day, while XRP lost 3.36%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that ABBC Coin gained 21.28% in the past 24 hours, making it the top daily gainer. Reserve Rights (19.41%) and Ren (13.61%) also did great. On the other hand, Storj lost 13.98%, making it the most prominent daily loser. It is followed by Uniswap’s loss of 12.63% and Energy Web Token’s loss of 9.94%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has decreased since our last report, with its value currently being 58.7%. This value represents a 2.54% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost a bit of its value over the course of the past 24 hours. Its current value is $360.10 billion, representing a decrease of $1.88 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• CoinList mints largest ever single-day quantity of WBTC (The Block)
• How crypto firms and traders in the UK might get around the new derivatives ban (The Block)
• ARK Invest’s crypto analyst says bitcoin market cap could hit $3 trillion by 2025 (The Block)
• Yearn.finance founder launched a new Ethereum experiment, gained $6m in hours (Cryptoslate)
• Institutions Rush to Bitcoin, Grayscale’s Record-Breaking Q3 (Cryptobriefing)
• Following OECD Report, Member Country Spain Clamps Down on Crypto Users (Cryptobriefing)
• Litecoin One Step Closer to Cardano Partnership and “Velvet Fork” (Cryptobriefing)
• Ethereum’s Vitalik Buterin Calls on Power Users to Move to Layer 2 Scaling (Coindesk)
• Surging Bitcoin futures volume highlights increasing institutional interest (Cointelegraph)
• JPMorgan says Bitcoin slightly overvalued as a commodity (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap spent the past 24 hours stuck within a range bound by the $11,300 support level and $11,500 resistance level. The price entered a state of enormous volatility at one point, where Bitcoin tried to break both to the upside and downside. However, the move to the upside was quickly shut down, while the move towards the downside took a bit more time but failed as well. This left Bitcoin in a narrow range, which it will come out of as soon as the bulls and bears stabilize. Its decreasing RSI and volume are proof of future possible, sideways trading, as well as a big move up ahead.

BTC/USD 1-day Chart

Bitcoin’s technical overview is extremely bullish on every single time-frame, with longer time-frames showing full tilt towards the buy-side, while the shorter ones are slightly tilted towards the buy-side.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above its 50-period EMA and at its 21-period EMA
• Price is at the middle Bollinger band
• RSI is neutral and descending (53.49)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $11,500                                 1: $11,300

2: $11,630                                 2: $11,180

3: $12,000                                  3: $11,000

Ethereum

Ethereum (just like Bitcoin) tried to find a consolidation price but failed to do so. The second-largest cryptocurrency by market cap faced an upward-facing trend line which it could not follow anymore that triggered a selloff and a drop below the line as well as the $378 support level. While Ethereum is still fighting for the support (now resistance) level, the price will most likely stay above this line.

ETH/USD 4-hour Chart

Ethereum’s technicals on all time-frames are bullish, with longer time-frames having a stronger bullish sentiment than the shorter ones. However, its monthly overview’s oscillators are showing indecisiveness, as they are neutral.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above its 50-period and at its 21-period EMA
• The price at its middle Bollinger band
• RSI is neutral (51.89)
• Volume is average

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $360

3: $415                                      3: $334

Ripple

XRP had the worst day performance-wise out of the three cryptocurrencies we are covering. The third-largest cryptocurrency by market cap has dropped below its ascending support trend line, which extended the push towards the downside. The price reached as low as the $0.2454 support level, which is where the bulls picked up the pace and pushed the price up slightly.

Traders should pay attention to how XRP’s price moves around the ascending (yellow) resistance line, as well as the $0.2454 support level.

XRP/USD 4-hour Chart

XRP’s technicals are quite inconsistent, with its 4-hour and monthly technicals being tilted towards the sell-side. On the other hand, its weekly overview is bullish, while its daily overview is tilted more towards the bull side, with moving averages still having a hint of bearish sentiment.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is below both its 50-period EMA as well as its 21-period EMA
• Price is at its lower Bollinger band
• RSI is pushing towards the oversold area (38.64)
• Volume is average (with the exception of one huge volume candle)

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector has experienced a pullback as Bitcoin went under its $11,500 support. Bitcoin is currently trading for $11,425, representing a decrease of 0.31% on the day. Meanwhile, Ethereum gained 0.09% on the day, while XRP lost 0.52%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that PumaPay gained 13.55% in the past 24 hours, making it the top daily gainer. ABBC Coin (9.05%) and Uniswap (6.64%) also did great. On the other hand, Solana lost 7.81%, making it the most prominent daily loser. It is followed by Loopring’s loss of 6.9% and Kusama’s loss of 6.77%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has decreased slightly since our last report, with its value currently being 60.24%. This value represents a 0.16% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has lost a bit of its value over the course of the past 24 hours. Its current value is $361.98 billion, representing a decrease of $5.11 billion compared to our previous report.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

• Government agencies help Chainalysis double its recurring revenue in Q3 (The Block)
• An analysis of Chainlink node operator earnings (The Block)
• Coinbase’s chief compliance officer is set to leave the firm (The Block)
• Fund manager on why DeFi’s Yearn.finance (YFI) dropped 75% from highs (Cryptoslate)
• Ethereum leads with 96% of all DeFi transactions as Tron, EOS, and NEO show promise (Cryptoslate)
• India’s First Bitcoin Exchange Proposes Regulatory Sandbox Over Ban (Cryptobriefing)
• Market Wrap: Bitcoin Slips to $11,300; Ether Locked in DeFi Is Flat (Coindesk)
• Security token trading volume crashed by 60% in September (Cointelegraph)
• Move over S2F — Model creator says ‘90% chance’ BTC never dips below $11K again (Cointelegraph)
• Tether’s market cap could overtake Ethereum’s next year — Bloomberg report (Cointelegraph)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap went into pullback mode as it couldn’t stay at its daily high of a little over $11,700. Bitcoin’s bull exhaustion triggered a pullback, which then broke the $11,500 support level to the downside, putting the cryptocurrency boxed in between $10,300 support and $10,500 resistance level. With the volume decreasing and RSI dropping down, we may expect sideways trading in the short-term before another attempt of (mostly likely) upwards motion.

Many analysts say that Bitcoin has almost no chance of going under $11,000 and that the most recent break above it has turned Bitcoin’s sentiment into a bullish one. However, if Bitcoin manages to go under $11,000, we may expect that the move will continue downwards quickly.

BTC/USD 4-hour Chart

Bitcoin’s technical overview is extremely bullish on all time-frames, with longer time-frames showing even stronger bull overview than the shorter ones.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price is at the middle Bollinger band
• RSI is descending (57.23)
• Volume is above-average (descending

Key levels to the upside          Key levels to the downside

1: $11,500                                 1: $11,300

2: $11,630                                 2: $11,180

3: $12,000                                  3: $11,000

Ethereum

Ethereum also experienced a pullback from its highs as ETH bulls couldn’t go past $496. However, unlike Bitcoin, Ethereum didn’t break any support levels during the move towards the downside. As it bounced off of the $378 support level, it continued moving alongside a very steep upwards-trending line, which is a very bullish short-term sign.

While moving alongside this line is unsustainable in the long-term, Ethereum might experience some more stable gains in the next couple of days.

ETH/USD 4-hour Chart

Ethereum’s 1-day and weekly overviews extreme tilt towards the bull-side, while its 4-hour and monthly overviews show a bit of indecisiveness, though they are still bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• The price slightly above its middle Bollinger band
• RSI is neutral (60.70)
• Volume is elevated (descending to average)

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $360

3: $415                                      3: $334

Ripple

XRP is known for being less correlated to Bitcoin’s movements than most other cryptocurrencies, which it has shown today as well. The third-largest cryptocurrency by market cap has traded sideways and hasn’t experienced any pullbacks. It has been trading alongside the upward-trending (yellow) line, which will force XRP to either go under it or face its resistance at the $0.26 level. In the meantime, however, we may expect low volatility.

XRP/USD 4-hour Chart

XRP’s technicals are quite inconsistent, as its daily and weekly overviews show quite a bullish tilt, while its monthly overview is almost completely bearish. Its 4-hour overview is leaning towards the buy-side but is quite neutral.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA as well as its 21-period EMA
• Price is at its middle Bollinger band
• RSI is flat (52.19)
• Volume is average but descending

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector has experienced another surge as Bitcoin moved away from $11,300 and closer to $11,500. Bitcoin is currently trading for $11,434, representing an increase of 0.89% on the day. Meanwhile, Ethereum gained 3.35% on the day, while XRP gained 0.03%.

 Daily Crypto Sector Heat Map

Taking a look at the top 100 cryptocurrencies, we can see that Ocean Protocol gained 21.97% in the past 24 hours, making it the top daily gainer. CyberVein (14.58%) and Synthetix Network Token (11.83%) also did great. On the other hand, Ren lost 14.83%, making it the most prominent daily loser. It is followed by PumaPay’s loss of 8.33% and Uniswap’s loss of 3.33%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has decreased slightly since our last report, with its value currently being 60.40%. This value represents a 0.26% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has a bit more value over the course of the past 24 hours. Its current value is $366.13 billion, representing an increase of $7.71 billion compared to our previous report.

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What happened in the past 24 hours?

_______________________________________________________________________

• Grayscale’s Ethereum Trust joins GBTC as SEC-registered reporting company (The Block)
• Report: G7 financial leaders say they will oppose Libra until it is ‘adequately’ regulated (The Block)
• Another CME Gap? Why Bitcoin Traders Should Care (Cryptobriefing)
• Ethereum Gets Privacy-Focused Layer-2 Scaling Solution with Aztec 2.0 (Cryptobriefing)
• Aave Raises $25 Million in the Round Led by Blockchain.com (Cryptobriefing)
• Why investors are optimistic after “painful” DeFi correction despite YFI plunge (Cryptoslate)
• With China’s central bank digital asset gaining steam, Bitcoin is stronger than ever (Cryptoslate)
• Short the dollar: How Goldman’s bearish stance uplifts Bitcoin Q4 sentiment (Cointelegraph)
• Ledger wants to help MicroStrategy secure its $400m Bitcoin treasury (Cointelegraph)

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Technical analysis

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Bitcoin

The largest cryptocurrency by market cap has continued its push towards the upside, getting past $11,500 and even close to the $12,000 mark. The move died out when it approached $11,750. Bitcoin is now in the pullback phase, where its price has breached $11,500 to the downside and is testing how low it can go until the bulls step in again.

Traders should pay attention to how Bitcoin handles the $11,300-$11,500 level when looking for their next trade.

BTC/USD 4-hour Chart

Bitcoin’s technical overview on all time-frames is tilted towards the buy-side, with longer time-frames showing an extremely strong bull overview.

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price descending from the top Bollinger band
• RSI is descending from almost-overbought levels (62.46)
• Volume is above-average

Key levels to the upside          Key levels to the downside

1: $11,500                                 1: $11,300

2: $11,630                                 2: $11,180

3: $12,000                                  3: $11,000

Ethereum

Ethereum has had another bull-run in the past 24 hours, with its price reaching as high as $396. However, the second-largest cryptocurrency by market cap couldn’t reach past the $400 mark, triggering bull exhaustion, and ultimately a pullback. With volume and RSI dropping, we may expect Ethereum to look for a price to consolidate a bit lower than its current price, and possibly test the $371 support level.

ETH/USD 4-hour Chart

Ethereum’s 1-day and monthly overviews show some signs of doubt in the bullish sentiment, while its 4-hour and weekly overviews are completely bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and its 21-period EMA
• The price at its top Bollinger band
• RSI is flat and nearly overbought (66.74)
• Volume is elevated

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $360

3: $415                                      3: $334

Ripple

Unlike Bitcoin and Ethereum, which both had a strong bull presence today, XRP has been trading sideways for most of the day. Its inability to reach past the $0.26 level has proven to be a problem, and we may expect XRP’s price to collide with the ascending trend line very soon. There is a small probability that XRP will reach past $0.26 and get close to $0.266, but it will most likely happen with Bitcoin’s help (though it is more likely that XRP will face the ascending line first).

XRP/USD 4-hour Chart

XRP’s 1-day technicals show a hint of doubt in its short-term bullish sentiment, while the 4-hour and weekly overviews are completely bullish. However, XRP’s monthly overview is still completely tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA as well as its 21-period EMA
• Price is at its middle Bollinger band
• RSI is flat (55.33)
• Volume is average but descending

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector has experienced a surge over the weekend as Bitcoin pushed above $11,000. Bitcoin is currently trading for $11,319, representing a decrease of 0.25% on the day. Meanwhile, Ethereum gained 0.09% on the day, while XRP gained 0.32%.

 Daily Crypto Sector Heat Map

Taking a look at the top 100 cryptocurrencies, we can see that Ren gained 27.02% in the past 24 hours, making it the top daily gainer. Monero (9.75%) and Cosmos (7.98%) also did great. On the other hand, Loopring lost 7.99%, making it the most prominent daily loser. It is followed by StorJ’s loss of 6.76% and PumaPay’s loss of 6.54%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has decreased slightly since our last report, with its value currently being 60.66%. This value represents a 0.67% difference to the downside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gained quite a bit of value over the course of the weekend. Its current value is $358.48 billion, representing an increase of $14.33 billion compared to our previous report.

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What happened in the past 24 hours?

_______________________________________________________________________

• Web traffic to cryptocurrency exchanges fell by over 14% in September (The BlocK)
• Bitcoin transaction values and fees grew in 2020’s third quarter (The Block)
• Monthly Ethereum futures volumes hit all-time high in September (The Block)
• “Don’t vacation yet”: Stablecoin supply suggests Bitcoin and altcoins could rally further (Cryptoslate)
• If all US companies followed Square, $250 billion could enter Bitcoin (Cryptoslate)
• Ethereum Miner Revenues Triple from DeFi, Approaches Parity with Bitcoin (Cryptobriefing)
• Technicals Show Tezos Prices Ready for an Impressive Upswing (Cryptobriefing)
• Cosmos Technicals Present Golden Profit Opportunity (Cryptobriefing)
• Spanish lawmakers get crypto in a bid to promote industry (Cointelegraph)
• More investors HODL Bitcoin as they anticipate a 2021 BTC bull market (Cointelegraph)

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap has continued its push towards the upside on Friday/Saturday, reaching as high as $11,500. The move has died out since, and Bitcoin is now trading in a narrow range between the $10,300 support level and $10,500 resistance level (61.8% Fib retracement). The volume seems to be dying off, while the RSI is descending, which may indicate a short window where traders shouldn’t expect much volatility, but rather trade within this range. However, Bitcoin cannot stay locked up in such a narrow range for too long and will have to make another move in the short future.

BTC/USD 4-hour Chart

Bitcoin’s technical overview is tilted towards the buy-side overall, but its short-term (4-hour and 1-day) technicals are a bit mixed up, with oscillators questioning the bullishness. However, its long-term outlook is completely bullish

BTC/USD 1-day Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price is near the middle Bollinger band
• RSI is descending from almost-overbought levels (66.90)
• Volume is descending

Key levels to the upside          Key levels to the downside

1: $11,500                                 1: $11,300

2: $11,630                                 2: $11,180

3: $12,000                                  3: $11,000

Ethereum

Ethereum’s movement over the weekend was similar to Bitcoin’s, with its price skyrocketing on Friday/Saturday, only to consolidate after the move ended. Ethereum bulls reached exhaustion after the price hit the 38.2% Fib retracement, and started consolidating right below it. Just as with Bitcoin, Ethereum is stuck within a range, bound by $371 to the downside and $378 to the upside.

Ethereum’s flat (and nearly overbought) RSI and descending volume indicate that Ethereum is preparing for a move.

ETH/USD 4-hour Chart

Ethereum’s short-term technicals are somewhat unclear, with its 4-hour overview turning to bullish and 1-day overview still being tilted towards the sell-side quite heavily. On the other hand, its long-term technicals are quite bullish.

ETH/USD 1-day Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and 21-period EMA
• The price is near its middle Bollinger band
• RSI is flat and nearly overbought(66.85)
• Volume is below average

Key levels to the upside          Key levels to the downside

1: $378                                     1: $371

2: $400                                     2: $360

3: $415                                      3: $334

Ripple

While XRP has also moved over the weekend, its move was not as significant as Bitcoin’s or Ethereum’s move. This is simply because it did not break any recent resistances, but rather got stuck at the same one it couldn’t get past on Oct 6. XRP is now consolidating at around $0.255, and we may possibly see a pullback to the orange ascending line as a retest of this upward-facing trend.

XRP has two possibilities now: it will either push towards $0.266 (less likely) or pull back towards the ascending line (more likely). Traders should keep in mind both of these scenarios when attempting to trade XRP.

XRP/USD 4-hour Chart

XRP’s 4-hour, 1-day, and weekly technicals are practically the same and are all tilted towards the buy-side (with oscillators being more or less neutral), while its monthly overview is heavily tilted towards the sell-side.

XRP/USD 1-day Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and at its 21-period EMA
• Price is at its middle Bollinger band
• RSI is descending (52.16)
• Volume is average (descending)

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227

 

The cryptocurrency sector as a whole has experienced a quick push to the upside. Bitcoin is currently trading for $10,839, representing an increase of 2.44% on the day. Meanwhile, Ethereum gained 2.91% on the day, while XRP gained 1.59%.

 Daily Crypto Sector Heat Map

If we look at the top 100 cryptocurrencies, we can see that UMA gained 31.88% in the past 24 hours, making it the most prominent daily gainer. The Midas Touch Gold (25.91%) and SushiSwap (18.59%) also did great. On the other hand, PumaPay lost 12.87%, making it the most prominent daily loser. It is followed by Zuba Token’s loss of 2.87% and Augur’s loss of 2.32%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s market dominance level has stayed at the same place since our last report, with its value currently being at 61.01%. This value represents a 0.05% difference to the upside when compared to when we last reported.

Daily Crypto Market Cap Chart

The crypto sector capitalization has gained quite a bit of value over the course of the past 24 hours. Its current value is $343.72 billion, representing an increase of $10.6 billion compared to our previous report.

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What happened in the past 24 hours?

_______________________________________________________________________

• A researcher debunks the Stock-to-Flow model, likens Bitcoin to a ‘tech stock’ (Cointelegraph)
• Bitcoin price fundamentals in ‘moon mode’ as BTC held on exchanges drops (Cointelegraph)
• The DOJ’s ‘Crypto Enforcement Framework’ Argues Against Privacy Tools and for International Regulation (Coindesk)
• JPMorgan’s Blockchain Lead Is in Charge of Ethereum-Based Interbank Information Network (Coindesk)
• Monero Faces Multi-Year Resistance as Technicals Scream Sell (Cryptobriefing)
• Cratering Yields Sends DeFi Niche into Death Spiral (Cryptobriefing)
• BitMEX parent company changes its leadership following CFTC charges (Cryptoslate)
• Square allocates 1% of its total assets to Bitcoin (Cryptoslate)
• Billionaire investor Chamath Palihapitiya just doubled down on Bitcoin in CNBC interview (Cryptoslate)
• Tether has blacklisted 100 addresses on Ethereum, network data shows (The Block)

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market cap has broken its triangle formation towards the upside after a bounce from the $10,500 support level. The massive bull presence had brought the price just under $11,000 before BTC started to pull back and seek an appropriate level to consolidate at. At the time being, Bitcoin is fighting for $10,850, and staying above, it would be a major precursor to its future possible push towards $11,000-$11,300.

Traders should pay close attention to Bitcoin’s price movement around the $10,850 level, as well as the ascending line (pink), and trade based on how the price reacts to these levels.

BTC/USD 4-hour Chart

Bitcoin’s technical overview has turned bullish overall, with every single time-frame being bullish. While its weekly and monthly overviews were bullish for months now, its daily and 4-hour technicals have turned bullish only after the most recent spike.

BTC/USD 4-hour Technicals

Technical factors (4-hour Chart):

• Price is above both its 50-period EMA and 21-period EMA
• Price is near the top Bollinger band
• RSI is descending from almost-overbought levels (61.39)
• Volume is descending from above-average

Key levels to the upside          Key levels to the downside

1: $11,000                                 1: $10,850

2: $11,180                                 2: $10,630

3: $11,300                                  3: $10,500

Ethereum

Ethereum has moved towards the upside alongside Bitcoin, but its price movement didn’t do anything as impactful as Bitcoin’s price. While the bounce from the $344 level was significant, it could not reach, let alone pass, the $360 level. Ethereum’s short-term future is certainly within this range, which traders can make use of.

Once again, we will point out an extremely high chance of Ethereum staying between $334 and $360.

ETH/USD 4-hour Chart

Ethereum’s short-term technicals are somewhat unclear, with its 4-hour overview turning to bullish and 1-day overview still being tilted towards the sell-side quite heavily. On the other hand, its long-term technicals are quite bullish.

ETH/USD 4-hour Technicals

Technical Factors (4-hour Chart):

• The price is above both its 50-period and 21-period EMA
• The price is near its middle Bollinger band
• RSI is neutral (54.08)
• Volume is below average (one-candle spike)

Key levels to the upside          Key levels to the downside

1: $360                                     1: $334

2: $371                                     2: $300

3: $400                                      3: $289

Ripple

XRP has used Bitcoin’s move towards the upside to fuel its own move and established itself above the $0.2454 level. The third-largest cryptocurrency by market cap has bounced off the ascending line (and not the $0.2454 level this time) dating back from Sep 24 and pushed up, reaching as high as $0.253 before ending the move.

Traders should pay attention to any sharp increases in volume, as well as how XRP handles the immediate support and resistance levels. Most analysts are currently quite bullish on XRP, mostly when it comes to 1-hour and 4-hour charts.

XRP/USD 4-hour Chart

XRP 4-hour, daily, and weekly technicals are quite bullish, while its monthly overview is tilted towards the sell-side.

XRP/USD 4-hour Technicals

Technical factors (4-hour Chart):

• The price is above its 50-period EMA and its 21-period EMA
• Price is close to its middle Bollinger band
• RSI is neutral (55.13)
• Volume is above average

Key levels to the upside          Key levels to the downside

1: $0.266                                   1: $0.2454 

2: $0.27                                     2: $0.235

3: $0.273                                  3: $0.227