Bitcoin, Ethereum, and Ripple [XRP] crypto Suffered Double Digit Losses by Percentage on Tuesday
Bitcoin, Ethereum, and Ripple [XRP] crypto Suffered Double Digit Losses by Percentage on Tuesday
Trading

Bitcoin, Ethereum, and Ripple [XRP] crypto Suffered Double Digit Losses by Percentage on Tuesday

By R.L. Bryer - 9 Nov 2022

Chevron down
Listen this article
download

Bitcoin Analysis 

The aggregate cryptocurrency market experienced one of the most volatile trading days arguably in years on Tuesday. BTC’s price followed suit Tuesday and lost -10.1% of its value and finished its daily trading session -$2,060.5. 

The first chart we’re looking at today is the BTC/USD 3D chart from LatinUnit. BTC’s price is trading between the 0 fibonacci level [$17,666.09] and 0.236 [$19,775.30], at the time of writing. 

The targets for bulls if they want to prove the prior three days were a bear trap are, 0.382, 0.5 [$22,433.26], 0.618 [$23,734.09], 0.786 [$25,717.33], and the 1 fib level [$28,485.40].

Contrariwise, bearish market participants have targets to the downside of the 3D chart of the 0 fibonacci level and BTC’s 12-month low of $17,611. 

BTC/USD 3D chart
BTC/USD 3D chart: the price is trading between the 0 fibonacci level [$17,666.09] and 0.236 [$19,775.30]
The Fear and Greed Index is 29 Fear and is -2 from Tuesday’s reading of 31 Fear.

Fear and Greed
The Fear and Greed Index is 29 Fear

Bitcoin’s Moving Averages: 5-Day [$20,355.12], 20-Day [$19,903.71], 50-Day [$19,786.1], 100-Day [$20,809.81], 200-Day [$28,918.21], Year to Date [$30,107.52].

BTC’s 24 hour price range is $17,166.8-$20,700.9 and its 7 day price range is $17,166.8-$21,417.69. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $66,935. 

The average price of BTC for the last 30 days is $19,873.3 and its +0.5% over the same span. 

Bitcoin’s price [-10.01%] closed its daily candle worth $18,528.3 and in red figures for a third consecutive time on Tuesday. 

Ethereum Analysis 

The aggregate crypto market cap was down at times more than $145 billion dollars for a 60 hour span on Tuesday and ETH’s price wasn’t spared. Ether also finished down double digits by percentage and -$232.23 for Tuesday’s session.

The ETH/USD 4HR chart below by MonoCoinSignal is the second chart we’re examining for this Tuesday. Bullish Ether traders lost the 0.786 fib level on Tuesday as well as the 1 fibonacci level [$1,502.85] and 1.618 [$1,392.78] before finding support at the $1,252 level. 

ETH/USD 4HR chart
ETH/USD 4HR chart: bullish Ether traders lost the 0.786 fib level on Tuesday

Ether’s Moving Averages: 5-Day [$1,547.33], 20-Day [$1,438.13], 50-Day [$1,443.53], 100-Day [$1,462.66], 200-Day [$2,013.99], Year to Date [$2,115.40].

ETH’s 24 hour price range is $1,233-$1,579.98 and its 7 day price range is $1,233-$1,659.61. Ether’s 52 week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $4,731.68. 

The average price of ETH for the last 30 days is $1,420.91 and its +6.63% over the same duration. 

Ether’s price [-14.82%] closed its daily trading session on Tuesday valued at $1,335.23 and in negative digits for the fourth day in a row. 

XRP Analysis

XRP’s price was the second worst performer of today’s price analyses and when traders settled up on Tuesday, XRP’s price was -$0.059. 

The last chart we’re examining today is the XRP/USD 1D chart below from Anica. XRP’s price is trading between the 0.618 fib level [$0.40718] and 0.5 [$0.43640], at the time of writing.

Bullish traders have overhead targets on the XRP daily time frame of 0.5, 0.382 [$0.46562], 0.236 [$0.50177] and a full retracement at 0 [$0.56021].

The chartist posits that a harmonic bearish Shark pattern could be playing out that takes XRP’s price back down to retest the $0.29 level. The targets that need to be breached to the downside to see the $0.29 level again are the 0.618, 0.702 [$0.38638], 0.886 [$0.34082], and the 1 fibonacci level [$0.31259].

XRP Analysis

XRP/USD 1D chart: the price is trading between the 0.618 fib level [$0.40718] and 0.5 [$0.43640]

XRP’s Moving Averages: 5-Day [$0.446], 20-Day [$0.459], 50-Day [$0.433], 100-Day [$0.391], 200-Day [$0.512], Year to Date [$0.533].

Ripple’s 24 hour price range is $0.335-$0.466 and its 7 day price range is $0.335-$0.502. XRP’s 52 week price range is $0.2876-$1.34. 

Ripple’s price on this date last year was $1.25. 

The average price of XRP over the last 30 days is $0.473 and its -18.98% over the same interval.

XRP’s price [-12.69%] closed its daily candle worth $0.406 and in red figures for a four straight day on Tuesday. 

R.L. Bryer

Since 2009, the onset of the bitcoin network, R.L. Bryer has been covering the space. He is the author of Blockchain: Project Renaissance Volume I and II. He's also been the guest of countless bitcoin and cryptocurrency related podcasts throughout the world. Every opportunity, he speaks on or writes about Austrian Economics and how bitcoin is the world's preeminent money.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.