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Ethereum Test of Local Support Hangs near $2,400 The Ethereum price action shows a bearish turnaround from the 100-day EMA with a 5.39% fall last Thursday. This results in an evening sharp pattern and breaks below the 50-day EMA. The current retest of the local support trend occurs near $2,461. This is putting additional pressure over the $2,400 critical support. However, the bullish divergence in the daily RSI line increases the possibility of a rebound rally. With the 100-day acting as the dynamic resistance, the bullish attempt to reach the $2,729 resistance level could find an in-between surge in supply. Currently, the 100-day EMA stands at $2,645, making it an area of high supply. If the BTC price manages to reclaim the $70,000 mark, the recovery run in Ethereum is likely to challenge the $2,729 near the 200-day EMA. In case of a bullish breakout, the 50% Fibonacci level at the $3,100 mark is a potential price target. By the end of November, a recovery run could reach the $3,500 mark. On the flip side, if Ethereum breaks below the $2,400 mark, Ethereum could reach for $2,235. $ETH
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Bitcoin (BTC) Rejects Price Below $68k Following a bullish failure to surpass the $73,600 resistance level last week, the BTC price took a re-test of the $68,000 level. The BTC price is now below the 78.60% Fibonacci level and is currently trading at $68,607. With a doji candle information, the possibility of a Morningstar reversal is shaping up. However, amid the rising uncertainties due to the U.S. presidential election, a potential re-test of the 67.80% Fibonacci level at $66,167 is possible. While the daily RSI line shows no significant divergence, the 50-day EMA is rising towards the 67.80% Fibonacci level to provide dynamic support. Hence, despite the downside risk, the Bitcoin technical indicators project a high possibility of a bullish post-retest reversal. $BTC
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SUI Price Analysis
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XRP Tests 23.60% Fibonacci Level After Triangle Breakdown In the daily chart, the XRP price action shows a bearish breakdown below the local support trend line. This marks the bearish outcome of a symmetrical triangle pattern. Furthermore, this puts the 23.60% Fibonacci level at $0.5128 at risk. Projecting the possibility of a minor recovery for XRP, the Doji candle found yesterday teases a Morningstar pattern. If a morning star pattern acts as a bullish reversal pattern, XRP price could retest the broken support trend line. Furthermore, the formation of this pattern near the 23.60% Fibonacci support level will increase the chances of a bullish recovery. Technical Indicators: EMA: The increased bearish influence has resulted in a death cross event between the 50-day and 200-day EMA. MACD: The MACD indicator shows a declining trend in the MACD and signal line as the supply pressure grows. Hence, technical indicators oppose the chances of a bullish recovery. Will XRP Price Fall Under $0.50? Based on the Fibonacci retracement tool and the price action analysis, a recovery rally with a broad market bull run will likely challenge the 50% Fibonacci level at $0.6185 or $0.7331. On the flip side, the crucial support remains at the $0.50 psychological mark and $0.45 mark.$XRP
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Celestia (TIA) With a jump of 4.68% in the past 24 hours with a trading volume of $224.301 million, the TIA price has recorded a strong bullish recovery. Moreover, with a market capitalization of $1.934 billion, it has successfully claimed the 46th position. The Moving Average Convergence Divergence (MACD) has displayed a constant red histogram with its averages experiencing a negative sentiment. Moreover, the EMA 50-day acts as a resistance, suggesting that the price may continue losing value this week. If the market favors the bulls, the Clestia price could push its value toward the resistance level of $7.430. Conversely, a negative setback could pull the price toward its crucial support level of $3.925 during the upcoming time.$TIA
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