Bitcoin, Ethereum and XRP face deeper losses below support

Bitcoin, Ethereum and XRP are trading below important support levels on their daily and three-day charts. Crypto analyst Ali Charts identified potential downside targets of $60,000 for Bitcoin, $1,963 for Ethereum and $0.99 for XRP in an analysis published Nov. 7.

Bitcoin traded near $75,908 on the three-day chart after falling from resistance around $87,000. The decline took Bitcoin below $80,000 and put pressure on the $73,000 midpoint of its trading channel.

A sustained break below $73,000 could expose Bitcoin to support near $66,000, followed by the channel’s lower boundary near $60,000. A decline from $75,908 to $60,000 would equal about 21%. A recovery above $73,000 could keep Bitcoin within its current range.

Ethereum traded near $2,227 after falling below $2,385, a level that had previously supported the price. The analysis linked the decline to a break below a right-angled ascending broadening formation, a chart pattern with widening price swings.

The analysis placed Ethereum’s next downside target at $1,963, about 12% below its quoted price. A recovery would first require a move above $2,385, followed by resistance near $2,475. Until those levels are recovered, $1,963 remains the lower target identified in the analysis.

XRP traded near $1.182 after falling below the $1.29 midpoint of its three-day channel. The token had previously faced rejection near $1.61, followed by a series of lower highs.

A decline below $1.13 could expose XRP to the channel floor near $0.99. A fall from $1.182 to $0.99 would equal about 16%. A move above $1.29 would weaken the current chart pattern, while a failure to regain that level would leave $1.13 and $0.99 as the identified downside areas.

Reviewed and fact-checked by Alex Panasenko on November 7.