Bitcoin, Ethereum, Litecoin, Ripple’s XRP, Chainlink- Daily Price Predictions- November 7th, 2020

• The overall market conditions are trying to cool down after a rigorous bullish momentum on Friday’s market session
• The overall market capitalization stands at $444.24B resulting in an increase of 0.43% over the day
• The overall volume traded in the last 24-hours of the market stands at $128.13B resulting in a decline of -18.75%
• The dominance of the crypto king has been surprisingly on negative momentum after a long time with a decline of -0.62% resulting in the current level to stand at 64.11% 

Bitcoin Cools Down to Achieve Sustainability Above 15K; Ether Bulls Capitalizes on Negative BTC Dominance; Altcoins Providing Mixed Sentiments in the Market. 

The overall market performance on Saturday’s trading session provided mixed sentiments. BTC looked to cool down its sharp positive rally, which was made on Friday’s market session as the bulls crossed above $15k and almost touched the level of $16k. Ethereum, on the other, had broke above the significant resistance level of $420 and started to retrace. However, with BTC turning hostile, the world’s second-largest digital asset capitalized and broke above the crucial mark of $450. The performance of altcoins has been sideways, with some of the coins managings to perform negative and some fall with BTC. 

Bitcoin Price Predictions 

The price momentum for the day by BTC has been kind of volatile. The price levels started positively, intending to break above $16K during the trading session. However, the price levels faced negative reversals from the price level of $15800, creating a new resistance point for the world’s largest crypto asset. The price levels retraced back strongly until the support point of $11200 helped BTC to avoid any further downfall. The CMP is now placed at $15347.20 facing an overall loss of -1.81% bringing the market capitalization to $284,482,987,260 and the 24-hour volume traded to $31,782,643,136. The profit booking momentum was expected and anticipated, but the support level of $15200 made it sure that BTC price levels will remain above $15k. 

Ethereum Price Predictions 

Ethereum fully capitalized on the negative performance of BTC price levels and its dominance. The price levels of Ether broke above the crucial mark of $450.00. The positive momentum continued until the resistance level of $470.00 arrived in front of the bulls. This bullish rally’s significance can be justified by the ETH/BTC pair’s significant positive performance, which performed 3.01% positive, bringing the current level to 0.02925583 BTC. The CMP is now placed at $447.27 with an overall gain of 0.90% bringing the market capitalization to $50,705,570,942 and the 24-hour volume traded to $ 17,678,111,620. The price levels need to maintain stability above $450 to retest the resistance level of $470.00 again. 

Litecoin Price Predictions 

Litecoin is suffering negative momentum along with BTC and is again on the verge to break below the crucial mark of $60.00. The LTC/BTC pair has also turned negative, facing a marginal loss of -0.71%, bringing the current level to 0.00395332 BTC. On the downside, the crypto asset is having minor support placed at $58.00. The CMP is set at $60.28, facing an overall loss of -3.33%, bringing the market capitalization to $ 3,967,955,607, and the 24-hour volume traded to $ 3,885,627,887. A sustainable negative breakout below the crucial mark of $60.00 will certainly put LTC into a vulnerable position. 

Ripple (XRP)  Price Predictions

Ripple has again turned negatively, unable to hold its positive momentum in the market as the price levels were getting closer to the retrace point of $0.260. The CMP is placed at $ 0.255 with the market capitalization of $11,556,672,293 with the 24-hour volume traded of $ 2,913,591,850. The XRP/BTC pair faces a marginal loss of -0.01%, bringing the current level to 0.00001665 BTC. The price levels will have major support placed at $0.220 on the downside if the coins’ bearish momentum continues for upcoming trading sessions. 

Chainlink Price Predictions 

Chainlink has been one of the top performers on Saturday’s market session as the levels are into retesting the crucial mark and resistance level of $13.00. The CMP is placed at $ 12.81, with a significant overall gain of 11.36%. The LINK/BTC pair has also performed significantly positive with a gain of 12.18%, bringing the current level to 0.00083410 BTC. Ther market capitalization has reached to $5,014,256,346 with the 24-hour volume traded of $2,220,710,278. The price levels form a significant bullish pattern on the chart, which indicates that LINK can break above the resistance level this time.