BTC, ETH, BNB, ADA, SOL, XRP, DOT, SHIB, DOGE, LUNA
Cryptocurrency is on a meteoric rise, with some coins like Bitcoin and Ethereum making their way to mainstream adoption. As the market skyrockets in value, there are some who believe that this boom will inevitably crash due to hyperinflation and crypto winter. Others still think cryptocurrency will adapt and become more functional within society as we know it today
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The list of cryptocurrencies available today has ballooned to over 1,000. With so many different digital assets on the market, it’s difficult for investors and traders to keep up with which ones are worth their time. This article is a guide to some of the best cryptos out there based on price movement, level of adoption across global exchanges and potential future value as a store-of-value asset or payment method.The “shiba price” is the current market value of the cryptocurrency Shiba Inu. The most popular shiba inu coins are BTC, ETH, BNB, ADA, SOL, XRP, DOT, SHIB, DOGE, LUNA.
In October, Bitcoin (BTC) and Ether (ETH) had their best monthly closes ever, showing strong buying enthusiasm. The attention now switches to November, which has been overwhelmingly positive for Bitcoin.
Only two times since 2013, Bitcoin has finished November in the red, in 2018 and 2019. The tailwinds from the U.S. financial markets, which have also had an excellent November, might provide another good boost for Bitcoin.
In November, the S&P 500 rose by a median of 2%, making it the only month of the year to attain such outstanding median gains.
Performance of the bitcoin market on a daily basis. Coin360 is the source of this information.
According to data from Glassnode, Bitcoin reserves on exchanges are at their lowest point in three years. The quantity of Bitcoin kept on exchange books has decreased from 3.1 million BTC in April 2020 to 2.47 million BTC in April 2020. According to economists, if demand surges, it might generate a supply shock, which could be positive for Bitcoin.
Will Bitcoin continue in the driver’s seat, or will Ether lead the altcoins higher? To discover out, let’s look at the charts of the top ten cryptocurrencies.
On Oct. 31, Bitcoin fell below the resistance line of the flag pattern, but the bulls prevented the price from falling below the 20-day exponential moving average ($59,876). This is a good indicator since it means traders are buying on dips.
Daily chart of BTC/USDT. TradingView is the source of this information.
The bullish flag setup will be completed if the resistance line is broken and closed above. The BTC/USDT pair may potentially surge to $67,000, its all-time high. This level is expected to function as a key obstacle for bulls, but if they can get through it, the pair may begin its climb toward the goal objective of $89,476.12.
Bulls have the upper hand, as seen by rising moving averages and a higher relative strength index (RSI). A break and closing below the 20-day EMA will be the first indicator of weakness. Such a move might lead to a drop to the pattern’s support line.
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If bears keep the price below the flag, the selling might pick in speed. The pair may then drop below $53,115, which is the 50-day simple moving average.
The extended tail on Ether’s candlestick today indicates that bulls are aggressively purchasing on dips. Since Oct. 1, the bulls have not allowed the price to sink and persist below the 20-day EMA ($4,042), indicating that sentiment is still favorable.
Daily chart of ETH/USDT. TradingView is the source of this information.
The ETH/USDT pair might restart its rise if bulls push the price over the overhead barrier at $4,460.47. The pair might then rise to $5,000, a psychologically significant level where the bears are likely to put up a fight.
Bears will aim to drag the pair to the 20-day EMA if the price drops from the above resistance, contrary to popular belief. This is a key support to keep an eye on since a break below it might lead short-term traders to take gains.
For the previous two days, bears have sought to drag Binance Coin (BNB) down below $518.90, but the lengthy tail on the candlestick reveals bulls have other ideas. Lower levels are generating a lot of interest, thus the bulls will attempt to continue the rise soon.
Daily chart of the BNB/USDT currency pair. TradingView is the source of this information.
Bulls are in control, as seen by the rising 20-day EMA (486) and the RSI hovering just below the overbought zone. The BNB/USDT pair might go towards the pattern objective of $554 and then to psychological resistance of $600 if bulls keep the price above $540.50.
In contrast, if the price falls below the 20-day EMA, it indicates aggressive selling at higher levels. This might snare a slew of aggressive bulls, dragging the pair to $392.20, a key support level.
For the previous several days, the bulls have successfully guarded the solid support around $1.87, but they are having difficulty pushing Cardano (ADA) above the 20-day EMA ($2.07). At greater levels, this suggests a lack of demand.
Daily chart of the ADA/USDT currency pair. TradingView is the source of this information.
The bears will now aim to push the stock below the $1.87 to $1.80 support zone. The ADA/USDT pair might fall below $1.58 if this occurs. Bears are in charge, as shown by the downsloping moving averages and the RSI in the negative zone.
Contrary to popular belief, if the price increases from its present level and breaks above the moving averages, considerable accumulation above $1.87 will be indicated. The pair might then rise to $2.47, which is the overhead barrier.
On Oct. 31, Solana (SOL) bounced off the 20-day EMA, indicating strong buying at lower levels. The bulls will now attempt to push the price over the $216 to $218.93 overhead resistance zone.
Daily chart of SOL/USDT. TradingView is the source of this information.
The SOL/USDT pair might restart its uptrend and surge to the pattern goal of $239.83 if they succeed. If the price breaks and closes above this barrier, it might lead to a surge to $265.80.
Bulls have the upper hand, as the 20-day EMA ($185) is rising and the RSI is in the positive zone. This bullish outlook will be shattered if the stock breaks through above resistance and falls below the 20-day EMA. This may cause the price to fall below the trendline.
As bears sell on rallies and bulls purchase on falls, XRP is caught between the downtrend line and the $1 support. On Oct. 31, the bulls attempted to push the price above the downtrend line, but the candlestick’s lengthy wick indicates that selling was occurring at higher levels.
Daily chart of XRP/USDT. TradingView is the source of this information.
Today, the bears are trying to push the stock below the moving averages. If this occurs, the XRP/USDT pair may once again fall under the strong support level of $1. This is a crucial milestone to watch since a break below it might push the price down to $0.85.
The pair might rise to the overhead barrier at $1.24 if bulls move the price above the downtrend line. The flat moving averages and the RSI at the midway provide neither the bulls nor the bears a clear edge.
The extended tail on the day’s candlestick shows that Polkadot (DOT) rebounded off the 20-day EMA ($41.93) on Oct. 31. This is a good indicator since it indicates that traders are buying on dips.
Daily DOT/USDT chart. TradingView is the source of this information.
Today’s sustained purchasing has moved the price over the $46.39 overhead barrier. The bulls attempted to break over the next overhead barrier at the all-time high of $49.78, but the bears refused to budge.
If the price drops below the present level of overhead resistance and finds support around $46.30, the chances of the uptrend resuming toward the pattern goal of $53.90 rise.
A closing below $46.39 will be the first indicator of weakening. After that, the pair might drop to the 20-day EMA.
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Bulls eagerly purchased the decline to the 50 percent Fibonacci retracement level at $0.00005778, according to SHIBA INU’s (SHIB) long tail on the Oct. 31 candlestick.
Daily chart of SHIB/USDT. TradingView is the source of this information.
The purchasers will now aim to drive the price up to $0.00008854, the all-time high. The bears are expected to sell aggressively at this level. If the price drops below the overhead barrier, the SHIB/USDT pair might move for a few days between $0.00008854 and $0.00005778.
A break and closure above $0.00008854 might signal a return of the uptrend, which could lead to the $0.00010349 300 percent Fibonacci extension mark. A break and close below $0.00005778, on the other hand, might push the price down below the 20-day EMA ($0.000048).
On Oct. 31, Dogecoin (DOGE) rose above the 20-day exponential moving average ($0.25), but bulls are fighting to keep the price above $0.27. This indicates that bears are profiting from rallies.
Daily chart of DOGE/USDT. TradingView is the source of this information.
The 20-day exponential moving average ($0.25) is trending up, and the RSI is barely over the middle, suggesting a little buyer’s edge. The DOGE/USDT pair might rebound to $0.30 and then $0.35 if the price stays above $0.27.
If bears bring the price below the 20-day EMA, this bullish outlook will be invalidated in the near run. After that, the pair might drop below the 50-day SMA ($0.23). If this level of support is broken, the price might fall below $0.19.
The Terra protocol’s LUNA token has been trading between the symmetrical triangle’s resistance line and the 20-day EMA ($41.65), indicating a favorable trend. Traders are buying on dips to the 20-day EMA, implying that they are buying on dips to the 20-day EMA.
Daily chart of the LUNA/USDT pair. TradingView is the source of this information.
To suggest a likely continuation of the uptrend, buyers must push the price above the triangle and keep it there. The LUNA/USDT pair may initially climb to $49.54, and if this resistance is overcome, the upswing might continue to the pattern goal of $62.59.
If bears manage to push the price below the 20-day EMA, the pair might fall to the 50-day SMA ($38.89) and then to the triangle’s support line. If the bears break and close below this support, it means the bulls have won the battle. The pair may then fall to $33 and then $22.40.
The author’s thoughts and opinions are purely his or her own and do not necessarily represent those of Cointelegraph. Every investing and trading decision has some level of risk. When making a choice, you should do your own research.