Bitcoin
BTC$57 317.30

6.05%

Ethereum
ETH$4 329.98

7.71%

Binance Coin
BNB$609.13

5.53%

Tether
USDT$1.000821

-0.05%

Solana
SOL$201.89

8.26%

Cardano
ADA$1.59

7.07%

What are the next levels to watch for crypto


16 Nov 2021

#Bitcoin

Cryptocurrencies have experienced a sell-off, taking major cryptos below recent short-term support lines. A stronger dollar against major currencies and a desire to lock in profits triggered a strong but relatively even sell-off overnight. The cryptocurrency market capitalisation collapsed 7.5% over the past 24 hours to $2.66 trillion, breaking a long consolidation.

The cryptocurrency fear and greed index has so far failed to react to yesterday’s spill in the sector, ending up at 71, still in greed territory, which bears little resemblance to the sentiment in the markets as of this morning. Bitcoin lost 7.8% to $60.7K and is 11% below levels a week ago.

Bitcoin has rolled back to the previous local support line, and one should watch the price closely to see if we see a break or a short-term shakeout. The $57.50-60K area focuses on the 50-day moving average and the 61.8% retracement level from the rise since late September. If Bitcoin does not get solid buying support in this area, it could open the road down to $52K.

Ether is down 8.4% to $4300, bringing its 7-day loss to 10.5%. At this stage, we can see the current pullback as a rally correction from the September lows with the first support area at current levels. A deeper target for the correction is seen at $4000. Besides being a psychologically important round number, it is also the area of the September highs, 61.8% of the rally and the 50-day average passes through here.

A day-end lock below $57K for BTC and $4K for ETH would mean a more profound and longer correction, where it makes sense for short-term buyers to wait for a better buying point: lower in price or when passions subside. Investors will have to figure out whether the latest round of crypto sell-off was triggered by a wave of dollar strength in the coming days. If these events are related, cryptocurrencies risk being struck as markets increasingly price in tighter monetary policy, raising the dollar’s appeal.

Written by FxPro’s Senior Market Analyst Alex Kuptsikevich

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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 78.8% 42 $57 317.30 6.05% 0.30% $1 082 493 482 173 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82.4% 32 $4 329.98 7.71% 4.10% $513 241 890 424 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 74.4% 53 $609.13 5.53% 7.08% $101 603 589 194 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000821 -0.05% 0.02% $73 181 280 297 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 69.2% 65 $201.89 8.26% -7.12% $61 384 548 102 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 67.2% 60 $1.59 7.07% -11.22% $52 994 241 732 ADA 7 days price change
7 XRP (XRP) XRP XRP predictions 74.4% 51 $0.977796 7.55% -5.78% $46 111 849 720 XRP 7 days price change
8 USD Coin (USDC) USDC USD Coin predictions 91.2% 2 $1.000263 -0.02% 0.06% $38 400 714 618 USDC 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 66% 75 $36.34 10.39% -9.36% $35 892 371 416 DOT 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62.4% 74 $0.205075 3.31% -7.25% $27 132 327 967 DOGE 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 66.8% 75 $113.04 7.34% -14.94% $25 302 145 754 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62% 77 $0.000040 5.31% -9.51% $21 695 676 622 SHIB 7 days price change
13 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 56% 90 $0.763021 5.29% 12.83% $19 276 211 216 CRO 7 days price change
14 Terra (LUNA) LUNA Terra predictions 64.8% 72 $48.97 15.39% 19.64% $19 240 048 048 LUNA 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 74.4% 46 $56 434.66 5.79% -0.91% $14 304 839 863 WBTC 7 days price change

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