Bitcoin, Ethereum, Litecoin, Ripple’s XRP, Chainlink – Daily Analysis – November 3rd, 2020

  • The overall market conditions have again faced major price correction activity with the majority of the crypto assets facing significant downfall
  • The overall market capitalization is standing at $389.09B resulting in a decline of -3.34% over the day
  • The overall volume traded reached $95.02B resulting in an increase of 31.895 over the day which reflects the heavy magnitude of selling volume prevailing in the market conditions
  • The dominance of the crypto king has reached 64.025 resulting in an increase of 0.87% over the day

Hope for a Green Week Ended by Bears on Tuesday’s Market Session 

source: coin360

As the overview of the crypto market reflects, the majority of the digital assets are facing a heavy downfall whereas Bitcoin’s positive sentiment remains intact. The reason for BTC remaining positive as compared to other coins can be the continuous increment in its dominance. On the other hand, Ether is still unable to reclaim the crucial mark of $400 and maintain sustainability above the mark. Other altcoins like Chainlink, Binance coin, Ripple’s XRP showed sustainability above crucial levels on Monday’s market session but the downfall in the current market session has forced the price levels to drop below those levels.

Bitcoin (BTC) 

source: coinmarketcap

Bitcoin was successful in avoiding any downfall below the crucial mark of $13k. During the downfall, the crypto asset had a low point of $13,012.15 which acted as a major support level and provided a positive push to the price levels. The sustainability above $13k is certainly providing bullish signals to investors as the world’s largest digital asset is in continuous attempts to reclaim $14k. The CMP is placed at $13505.94 facing an overall loss of -1.11% bringing the market capitalization to $ 250,298,344,664 with the 24-hour volume traded of $ 31,255,916,796.

Ethereum (ETH) 

source: coinmarketcap

Ethereum is piling up the number of unsuccessful attempts to reclaim the crucial price mark of $400.00. In fact, due to the ongoing downtrend, the price levels are looking to sustain above the major support level of $370.00 with the CMP of $377.88 facing an overall loss of -3.65% in the current market session. The market capitalization has reached $42,802,874,162 with a 24-hour volume traded of $13,396,744,345. The price levels had a low point of $371.31 during the ongoing downtrend.

Litecoin (LTC) 

source: coinmarketcap

Litecoin is again near the crucial price mark of $ 50.00 with a downtrend bringing the CMP to $52.77 facing an overall loss of -4.50%. A negative break below the mark can result in a more significant downfall for the price levels in upcoming trading sessions. The market capitalization has reached $3,472,234,293 with the 24-hour volume traded standing at $2,979,738,026. The LTC/BTC pair is also performing negatively facing an overall loss of -3.70% bringing the current level to 0.00390128 BTC.

Ripple (XRP) 

source: coinmarketcap

XRP is also one of the victims of the overall downturn in the market facing an overall loss of -2.43%. It is the major support level of $0.22 which is preventing any further downfall for the crypto asset as just when the price levels broke below $0.230, the support level was ready to provide a positive push. Therefore, the CMP is placed at $ 0.232221 with a market capitalization of $ 10,516,062,092 and the 24-hour volume traded standing at $2,594,141,297. The XRP/BTC pair is also performing negative with a loss of -2.57% bringing the current level to 0.00001713 BTC.

Chainlink (LINK) 

source: coinmarketcap

Chainlink has been one of the top losing coins in the current market session facing an overall loss of -8.13% resulting in the price levels dropping below the crucial level of $11.00 again. The CMP is placed at $ 10.41 with the market capitalization of $4,036,394,304 with the 24-hour volume traded of $ 1,717,305923. The LINK/BTC pair is also performing negative with a loss of -8.38% bringing the current level to 0.00076717 BTC. On the downside, the price levels are having major support levels placed at $10.00, $9.20, and $8.50 respectively.