Bitcoin Price and Ethereum Might Recover, CHZ and APE Rallies
The Bitcoin price consolidated near the $21,158 level on November 6, but a closing of candles above the $21,000 level has increased the odds of a bullish trend continuation. Whereas Ethereum is also struggling below the $1,665 resistance level, it is now attempting to complete a retracement at the 1,600 level before a potential uptrend.
Major cryptocurrencies were trading in a mixed bag early on November 6, with the global crypto market worth falling 0.61% to $1.06 trillion on the previous day. Over the last 24 hours, the total crypto market volume fell 39% to $70 billion.
The overall volume in DeFi was $4.78 billion, accounting for over 6% of the entire 24-hour volume in the crypto market. The overall volume of stablecoins was $63.71 billion, accounting for 90% of the total 24-hour crypto market volume.
In the last 24 hours, the top performers were Chiliz (CHZ), ApeCoin (APE), and OKB (OKB). Chiliz and ApeCoin have risen by more than 5% to $0.1349 and $5, respectively. At the same time, OKB has increased by about 5.5% to $21.
In the last 24 hours, FTX Token (FTT) has plunged around 10% to $23.2. Nexo (NEXO) has dropped more than 6% to around $0.9879, while Dogecoin (DOGE) is down about 5% to $0.1230.
The current Bitcoin price is $21,175, and the 24-hour trading volume is $34 billion. Bitcoin lost over 1% during the Asian session. CoinMarketCap currently ranks it first, with a live market cap of $406 billion, up from $385 billion yesterday.
After breaking through the major resistance level of $21,000 to reach $21,480, the BTC/USD pair entered the overbought zone. Since BTC has begun a bearish correction, its price may fall to $21,000 before rebounding.
Meanwhile, the RSI and MACD are exiting the overbought zone and will soon be
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