BTC/USD

BTC/USD is being traded at $6,370 and is in correction after a recent rise. As previously assumed, during the last trading day there was a sideways movement on the market. Impulsive growth, despite its provocative nature, greatly encouraged customers and believing in their strength, they began to secure levels. How well they will succeed and if their enthusiasm will not disappear after the first pressure of the sellers, we will find out later when the current consolidation will come to its end.

As part of the forecast for November 2, we can expect the continuation of the flat-like price movement in the range of $6,450 – $6,260. Now it is difficult to predict how long the price will last in this range, especially if new buyers enter the market. At the time of this writing, the level of $6,363 remains after buyers. But to implement at least some of the bull scenario, you need to wait for more active signals and level protection. Those should be attempts to go above $6,450 with the retention of this bar. But, judging by the volumes, the price is not ready yet for such a jump.

Cancellation of the development of flat movement with the advantage of a further fall will be pulsed growth and the breakdown of the resistance level of $6,500. In case of consolidation above, growth is likely to $6,700, then – to $7,150.

ETH/USD

ETH/USD is being traded at $201.41 and is in correction after a recent rise. This coin continues to closely correlate with the previous one. With the only difference that only sellers are still active here are those who use recent growth in order to get more profitable positions for sales.

As part of the forecast for November 2, we can expect the continuation of the flat-like movement. As in the case of bitcoin, it is also difficult to predict the time that the price will stay in the range of $201.60 – $194.50. But, most likely, all subsequent movements will continue to copy bitcoin, so it is worth to follow the number 1cryptocurrency more closely.

The abolition of the development option for the flat movement with the advantage of a further fall will be an impulse growth, with a target of $201.50. Fixing the price above it will allow us to expect further growth to $206.00 and to $212.00.

XRP/USD

XRP/USD is being traded at $0.45606 and is in correction after a recent impulse. In this coin, lateral movement occurs in a narrower range due to the strong pressure of buyers. Yesterday we mentioned that here buyers took advantage of the situation with price manipulation and were able to transfer their interest levels higher. For the previous trading day, buyers also managed to further improve their positions and almost come close to the sellers’ area at $0.45490. If the bulls do not lose their enthusiasm and will be able to leave down the level of buyers, they have a good chance to change the whole further trend.

As part of the forecast for November 2, we can expect the continuation of the flat-like price movement in the range of $0.46000 – $0.44000. As well as attempts to go above the resistance zone and break through the mark of $0.46000. At the moment, while the sellers could not gain a foothold above the sellers’ zone, which, in turn, are also actively protecting their positions, going down is more likely. If this happens, the flat movement will continue, but already in a wider range than the current accumulation.

An alternative scenario is further impulse growth, with a goal of $0.47000.

XMR/USD

XMR/USD is being traded at $103.920 and continues to move in the borders of the established flat. As previously assumed, a false breakdown of the sellers’ interest zone led to a good downward rollback. Now the coin is trading at the same levels as before the recent provocative growth. The bulls no longer tried to gain leadership and gain a foothold at higher levels, preferring defence to offence. The length of the price staying within the limits of the established flat will depend on how effectively they will protect the support zone in the coming days.

As part of the forecast for November 2, we can expect the continuation of lateral movement within the boundaries of the flat of $105.800 – $102.600. If the protection activity of the support zone from customers is good, then the price already pushing off the upper boundaries of the flat will go up for the next test of its upper bound. If buyers are pressed, then we can probably see the price going lower to the support zone, where it can find more active protection of buyers, for further growth to the upper boundaries of the flat. In the case of the breakdown of the level of $101.300, the probability of the resumption of the bearish trend will become higher and the price behaviour of $100.000 will be decisive for the whole future trend.

An alternative scenario is the resumption of active growth and the breakdown of the resistance zone, in order to consolidate at the level of $109.000. This will open the way for the further upward movement to $114.000.