Print the page
Increase font size
Where to Now: What’s Next for the Two Biggest Cryptos

Posted November 23, 2021

Ray Blanco

By Ray Blanco

Where to Now: What’s Next for the Two Biggest Cryptos

Not too long ago, bitcoin saw a major correction which cut its price by about 50%. Ethereum also caught the ax and corrected just below $2,000. 

But the story doesn’t end there, bitcoin and ethereum went on huge rallies to break into new all-time high territories. 

Following the rallies, however, both bitcoin and ethereum saw pullbacks after touching new highs. Nothing unheard of going on here… 

So that brings us to today… Where are we, and where do we go from here? 

Currently, bitcoin is about $10k off its all-time highs, and ethereum is about $500 off. 

It’s been a rough week for the two flagship cryptos as they struggled to catch their footing and resume the rally, but things are looking up today. 

As I write this update, bitcoin is up over 3% while ethereum is up over 7%. 

Let’s dig into bitcoin first… 

Bitcoin has seen a bit of a mixed morning session following Monday’s pullback.

Like I mentioned, bitcoin is currently up about 3% to $57,650.

Earlier this morning, we saw bitcoin fall to a late morning low of $55,400 before making its move back to the upside.

Steering clear of the first support level around $54,845, Bitcoin rose to a late morning high of $57,750.

Bitcoin certainly has some resistance to get through around the $58,600 level, and support from the broader market is needed to make a break back toward $60,000.

If we see an extended crypto rally, bitcoin could test resistance at $60,000 before any pullback.

Looking at ethereum, things are looking a little better than they are with bitcoin… 

Again, ethereum is up over 7% to $4,380 right now. Aside from a dip before 8:00 AM EST, ethereum’s rally has remained intact on the way up. It was also able to break through a few resistance levels. 

Barring any major developments, it’s looking like we might see an extended crypto rally after all… 

One interesting thing about crypto is that the ‘market’ is never closed. Crypto trading can happen at all hours of the day and on weekends as well. 

Luckily, I’ll be keeping an eye on things to bring you up-to-date news on any developments. 

To a bright future,

Ray Blanco

Ray Blanco
Chief Technology Expert, Technology Profits Daily
AskRay@StPaulResearch.com

We Might See “Crypto Cities” Sooner Than You’d Think

We Might See “Crypto Cities” Sooner Than You’d Think

Posted November 22, 2021

By Ray Blanco

Before we get into today’s update, I just wanted to mention that we have a shortened trading week this week. The Market will be closed for Thanksgiving this Thursday and closed for a half day on Friday. With that quick housekeeping note, let’s get into it.

Step Into the World of Altcoins

Posted November 19, 2021

By Ray Blanco

There are quite a few coins that have done very well lately, and neither of them is bitcoin or ethereum.

The Future of Crypto is Spelled E-T-H (Not B-T-C)

Posted November 18, 2021

By Jonathan Rodriguez

Here's why ETH is the future of crypto.
Don’t Call it a Bitcoin Breakdown

Don’t Call it a Bitcoin Breakdown

Posted November 17, 2021

By Ray Blanco

Following a rally to new all-time highs, it looks like Bitcoin has started to stabilize around $60k.
Looking Ahead to a Virtual Earth

Looking Ahead to a Virtual Earth

Posted November 16, 2021

By Ray Blanco

Last week, Nvidia hosted its annual GTC (GPU Technology Conference) event. And as one could imagine, a big topic was the metaverse.

Bitcoin Just Got a Major Upgrade

Posted November 15, 2021

By Ray Blanco

It can be hard to keep track of the number of cryptocurrencies there are. It gets even more difficult to keep track of all their applications… Of course, not all coins are created equal and there are some that you’ve never heard of, or ever will. On the flipside, there are the coins on the forefront, such as Bitcoin. But Bitcoin isn’t the end all be all.