Ethereum, Ripple and Cronos Forecast: Navigating Choppy Markets

Key Insights

• ETH/USD dips 1.70%, signaling bearish trend below $1,870 pivot.
• XRP drops 4.5%; RSI suggests overbought at $0.73319.
• CRO climbs over 4.25%, RSI indicates potential reversal.
• ETH faces resistance at $1,913, with supports at $1,834.
• XRP’s double top could hint at an impending bearish reversal.

Ethereum Price Prediction

In today’s technical analysis, ETH/USD presents a somber picture, retracting by 1.70% to a current price of $1,870. The four-hour chart delineates a struggling asset wavering at its pivot point of $1,871. Immediate resistance levels are staged at $1,913, followed by $1,958 and a psychological round figure of $2,000. On the downside, Ethereum finds support at $1,834, with subsequent safety nets at $1,784 and $1,746.

The RSI stands neutral at 53, neither hinting at overbought nor oversold conditions, but slightly skewed towards a bullish sentiment. However, the MACD tells a different story, suggesting a bearish trend, potentially undermining the slight optimism reflected in the RSI.

The asset’s price drifts below the 50 EMA at $1,844, signaling a short-term bearish tendency. A bearish engulfing candle pattern on the chart underscores the prevailing selling pressure. The key level to watch is $1,870; a decisive move below could catalyze a deeper correction.

In conclusion, the overall trend skews bearish as long as ETH remains below $1,870, with the short-term forecast anticipating a possible test of lower support levels if the pivot cannot hold.

XRP Price Prediction

Ripple The digital payment token XRP faces a downturn on November 7, with a notable 4.5% decline in price, currently standing at $0.73319. Over the last four hours, the asset has hovered around a pivot point of $0.70433, facing immediate resistance at $0.76510 and potential upward barriers at $0.84404 and $0.94548. The downside seems cushioned by immediate support at $0.64581, with further fallbacks at $0.57691 and $0.51500.

Despite today’s decline, the Relative Strength Index (RSI) at 76 signals overbought conditions, an anomaly amidst bearish price action, suggesting a potential pullback. The MACD’s slight dip below the signal line warns of a bearish trend, further confirming the pessimistic sentiment. Price is currently well above the 50 EMA of $0.6330, adding a layer of complexity to the short-term outlook with a bullish technical structure.

Chart patterns display a double top at $0.73319, typically a bearish reversal indicator. Given these technical readings, the trend for XRP is bearish below the critical level of $0.7332. A sustained move under this threshold could pressure XRP to seek lower supports, as indicated by the short-term technical.

CRONOS Price Prediction

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