November 3 Cryptocurrency Price Analysis: ETH, XRP, ADA, SOL and BNB

Crypto News- November 3 Cryptocurrency Price Analysis: This week, our focus turns to five prominent cryptocurrencies, namely Ethereum (ETH), Ripple (XRP), Cardano (ADA), Solana (SOL), and Binance Coin (BNB). These cryptocurrencies have been making waves in the crypto market, each with its own unique developments and price actions.

Ethereum (ETH):

Ethereum’s price has retraced to a level similar to where it was seven days ago, following a recent rejection at the $1,820 resistance. The price action appears rather stagnant, and it seems that buyers are struggling to drive ETH higher for now. If sellers capitalize on this weakness, there’s a possibility that ETH could revisit the support level at $1,665. However, it’s important to note that Ethereum remains in a bullish stance as long as it stays within the confines of its ascending triangle. Even if the current pullback extends into the next week, buyers could still make a comeback.

November 3 Cryptocurrency Price Analysis: ETH, XRP, ADA, SOL and BNB

Ripple (XRP):

XRP had an impressive week, breaking through the resistance at 57 cents and achieving a 9.1% price increase. The momentum generated may persist in the coming days. The key resistance levels to watch for are at 62 and 68 cents, but at the time of this update, buyers are maintaining control. Looking ahead, the overall bias is bullish, and XRP has a clear path to the significant level of 68 cents. However, it’s advisable to reassess your outlook if the price reaches that point.

Cardano (ADA):

Cardano, like XRP, experienced a remarkable 10.8% price increase this week, largely due to strong buying activity. The price is currently hovering just below the crucial resistance at 32 cents and might test the support at 30 cents before deciding on its next direction. Looking forward, ADA is in a favorable position and could continue its positive performance. To sustain upward momentum, buyers need to convert the 32-cent resistance into support in the near future.

Solana (SOL):

Solana delivered the most impressive performance on our list this week, recording a remarkable 17.3% increase. Buying pressure surged, pushing the price to a local high of $46.9 before sellers made a return. Currently, the price is slightly below $40, which also acts as a resistance level, with support at $37. Looking ahead, Solana appears to have strong momentum, but the momentum indicators suggest that a correction may be imminent.

Binance Coin (BNB):

Binance Coin bulls managed to push the price just above the $230 resistance before facing selling pressure. As a result, the price increased by only 1.3% this week. With a pullback currently underway, buyers will need to make another attempt to break the key resistance level if they intend to initiate a sustained rally. The bias on this cryptocurrency remains neutral, and it will only turn bullish if the $230 level transforms into support.