After closing the best week in the past two months and the first positive month since July, the building is ready for the end of the year for Bitcoin, Ethereum, Chronos and all cryptocurrencies.
After 3 weeks in purgatory, the total capitalization of the entire crypto sector is back above i $1,000 billion.
Despite a slow start to November with prices trading in the $20,500 region for bitcoin and above October highs, the monthly close for the major cryptocurrency is a signal that indicates a desire for a restart.
The monthly restart with turbo for Dogecoin (DOGE) which thanks to the influence of Elon Musk is close to $0.16 per token, the highest level since last April. In the last 48 hours, the DOGE token has gained over 10% which, combined with last week’s performance, sees the value doubling in a few days.
Cronos (CRO) Cryptocurrency Price Analysis
On the other hand, among the tokens struggling to keep up is Cronos (CRO), the native token of the Cronos Chain, an open-source blockchain among the range products developed by the popular trading, financial and payment services platform. encryption. com.
Unlike most of the major tokens, the CRO price continues to fluctuate in the lower part of the channel which has been confining prices for over a month Between 10 and 11 US cents.
Total capitalization remained frozen at 3.3 billion dollars For over a month now, Cronos has been sliding below the 25th spot in the classification One of the major cryptocurrencies listed by CoinMarketCap.
Bitcoin (BTC) Price Analysis
After a good weekly and monthly closing above $20,500, the coming days of the week will be a valid criterion for understanding whether the bullish surge in the past week is the beginning of an upward cycle that will accompany us until the end of the year.
After the explosion in volumes that accompanied the break of early October highs, trading has returned to the average of the past few weeks.
A signal that must be confirmed by the return of purchases, accompanied by new highs for the period, and in any case above $21,000.
If this happens in the next few days, it is possible that the next few weeks for the bulls will begin the bullish trend that statistically characterizes the last few weeks of the year.
Ethereum price analysis
Weekend rate ETH It managed to rise above the $1,660 level for the first time since September 13th.
In these hours, prices are approaching the dynamic resistance of the 200-day moving average, a level that was abandoned in the early days of the year and never recovered.
The reason that increases the expectations of a possible outage in the coming weeks and perhaps in the next few days already.
The first time price manages to clear dynamic resistance – currently a handful of dollars above weekend highs – you are very likely to expect increased volumes and the possibility of a run-away About 1700 US dollars.
If so, the resistance at $1,800 becomes the next target level.
Conversely, rejecting the attack could push prices towards the $1450 region. It is important not to sell $1400 in order not to undo all the work that the bulls have done in the last 10 days.