The crypto market is showing strength during the first week of November. Key levels have been defined to gauge the market’s next potential move. Based on the influx of volatility Crypto Season may already be here. Bitcoin price breaches the $21,000 level with strong momentum. Ethereum price could challenge the summertime highs. Ripple price rallies 10% during the Asian session to $0.50.
Bitcoin (BTC) price shows a consolidative structure despite the Federal Reserve’s hawkish tone on November 2. Regardless of the macroeconomic impact of this development, BTC continues to hover in a tight range. Investors need to be careful as this rangebound movement could result in an explosive move. Since the technical and on-chain metrics point to different outlooks, the direction of this breakout is yet to be determined.
Litecoin price prepares to usher in the weekend in style as it climbs the ladder hoping to tag $83.83. Most technical indicators flipped bullish when LTC rebounded from support at $50.50. A subsequent move past the sellers’ congestion zone at $56.00 cleared the course for Litecoin bulls to attack key hurdles upstream, as discussed by one of our analysts.