The current week is characterized by a marked increase in market capitalization of cryptocurrencies. The market has grown from a Monday in the neighborhood of $210 billion and at the moment the current level is $216,8 billion While the actual high of the week came on Wednesday, nearly $221 billion.
Also on Wednesday, November 7, was recorded minimum monthly level of dominance in the Bitcoin area 51%. This decrease has occurred against growth of capitalization Ripple and Bitcoin Cash. The previous high dominance Bitcoin was marked at 57% in September.
For most coins from the list of the TOP 20 current week promotes the growth of their market prices (Fig.1).
Leadership positions held such projects: Ripple (+9,8%), zcash for (+of 8.78%) and Cash (+4,29%).
Ripple (XRP) breaking the mark set 0,5600 month high came close to the level 0,5700 on Tuesday, November 6. Last time XRP was at these levels on 2 October. At this point, the asset is adjusted (Fig.2). The next support levels: 0,51000 and 0,50000.
If we talk about Bitcoin, the first cryptocurrency demonstrated growth in the region of 2.5% for the current week. Upward momentum has met with resistance in the neighborhood of $6500 – $6550. From this zone are witnessing a downward correction. The next support levels: $6420 – $6400 that corresponds to the support from the exponential moving average 100 EMA on the four hour chart.
Oleg Sergeyev, an analyst at TSI Analytics, especially for BitJournal.
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