BTC/USD is being traded at $6,507 and continues a corrective decline. The main cryptocurrency continued to fall in price on Thursday as part of the correction to the growth of the previous days. At the moment, buyers can not give sellers decent competition, so the corrective decline is likely to continue for some time.
As part of the forecast for November 9, we can expect that in the short term, the coin will continue downward correction aiming to $6,500 dollars. If at this level the price finds the necessary support, we can expect a rebound and the continuation of the upward trend.
An alternative option is the breakdown of the upper boundaries of the support zone and the fall to $6,363.
ETH/USD is being traded at $215.58 and continues to trade in correction. The price of the coin reached a peak of $223.00 and started the correction. Now there is a serious bull trend line with strong support at $216.00. There is a possibility that the value of the coin may drop to $213.00 or $212.00 until it attracts new buyers.
As part of the forecast for November 9, we can expect further development of the downward correction, in order to test the lower levels of the support area of $212.00 – $210.00. If market participants continue to maintain a positive attitude, it is likely that after testing support, the price will try to refresh highs at $225.00 and go higher to $231.00.
Cancellation of the growth option will be the breakdown of the support zone, with the goal at $205.95. In this case, we can expect a further drop to $200.00 – $199.20.
XRP/USD is being traded at $0.50980 and is also in a corrective decline. The bad news for XRP was a report that Swift denied rumours about a collaboration with Ripple. The company does not plan to enter the RippleNet program, as mentioned earlier. In this regard, the development of the continuation of the upward trend is questionable.
As part of the forecast for November 9, we can expect a continuation of the downward correction, with a target of $0.49500. If the negative news does not increase, and the existing one doesn’t weaken the customers’ enthusiasm, the next goal will be the returning to the resistance level of $0.54500 after the correctional trading in the support area.
An alternative scenario is the breakdown of the lower boundary of the support zone and the departure down to $0.46200.
XMR/USD is being traded at $109.690 and continues to correct. The pressure from the sellers turned out to be stronger than expected and drove the price into the area of support. It’s hard to say when the recent maximum update will take place and whether it will take place at all. Without some positive news support, this week, probably, the coin will not please us with such an event.
As part of the forecast for November 9, we can expect a downward correction to test the lower boundary of the support area of $108.200. If the bulls manage to keep the zone of their interests, in the longer term, we can expect growth with the prospect of leaving above $115.500 area.
An alternative scenario is to fall below $108.200. Breakdown of this support zone, in the long run, will lead the price even lower, to $105.000.