When October was coming to an end, no one would have predicted that in the early days until November the market would have had a positive trend reversal. After a dive on October 29thth and a frustrating side action, finally, the market is heading in the right way.
For the most part, this is the only major price hike in the year, promises a good end of the year for cryptocurrencies and a good reputation for experts who made predictions that cryptocurrencies would end the year above.
Second CCNin the last seven days the cryptocurrency market volume has increased by 60%. Growing from under $ 10 billion last week to $ 16 billion.
The battle for the biggest title in Altcoin
Over the past two days and hours, several currencies have broken the main levels of resistance and, with the positive momentum that continues to grow, we expect the most crucial ones to be overcome. Another important event that took place is the short-lived leadership of Ripple, as the largest altcoin.
The event, which took place yesterday, November 6, saw Ripple overcome the Ethereum temporarily in a couple of hours, for the second time this year. When Ripple first did, he took the market by surprise, but yesterday's power play was evident from many miles away. This could end up being?
However, Ethereum is not taking power games lightly. The tokens increased, breaking different resistance levels, particularly $ 208, $ 212 and $ 215. Today, after breaking the resistance level of $ 215, Ethereum has risen to a high of $ 220. The currency is experiencing a resistance at this level but continues to enjoy support at the $ 216 position. Ethereum is trading strongly and it is expected that the bulls will continue to push to reach highs of $ 225.
While the battle of the second place continues, the first place remains unchallenged. Even Bitcoin is enjoying the wave of positive momentum and it is at press time, trading just above the $ 6,500 mark.
Experts expect this positive momentum to continue for the rest of the week. In the next few days we should see Ethereum repeat the evaluation of $ 230. This is one of its most crucial levels and the last time it was traded so high was in September. A break at this level could see the $ 300 increase in Ethereum. As for the bitcoin, the bulls are now looking at the $ 6,800 mark, a position where the currency has not hit since the beginning of September.