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Crypto

BTC and ETH Price Analysis for November 8


The drop has continued as all top 10 coins remain in the red zone.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by almost 5% over the last 24 hours.

BTC/USD chart by TradingView

Bitcoin (BTC) has continued to drop since yesterday and reached the middle of the wide channel. At the moment, one needs to pay attention to the vital $20,000 mark. If buyers cannot return to it and fix above it, there are chances to see the test of the support level at $18,157.

Bitcoin is trading at $19,434 at press time.

ETH/USD

Ethereum (ETH) is more of a loser than Bitcoin (BTC), going down by 6.21%.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) is on its way to the support level at $1,407. If the price bounces back, there are chances to see a local rise to the $1,500 area by the mid-November. However, if the bar closes below the mentioned mark, the downward move can continue up to the $1,350 zone.

Ethereum is trading at $1,449 at press time.



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