Price analysis 11/18: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, UNI, LTC

1 year ago

The sentiment crossed the cryptocurrency ecosystem remains fragile arsenic marketplace participants measure the interaction of the FTX situation connected assorted businesses wrong and extracurricular of the crypto sector. Trading steadfast QCP Capital said successful its latest circular connected Telegram that crypto assets whitethorn proceed their underperformance till the caller year. QCP projects Bitcoin (BTC) to plunge to $12,000 and Ether (ETH) to $800.

Looking astatine the brighter side, FTX could beryllium the last large subordinate to wound the dust during the existent carnivore marketplace cycle, according to CK Zheng, co-founder of crypto hedge money ZX Squared Capital.

Zheng besides added that organization investors who person a semipermanent skyline whitethorn proceed to put successful blockchain exertion and prime cryptocurrencies specified arsenic Bitcoin and Ethereum.

When the sentiment is bearish, rumors make panic among traders who dump their holdings retired of fear. Usually, these occasions signifier a bottom. Traders whitethorn stay cautious and debar placing ample bets until the particulate settles and the markets corroborate a bottom.

What are the important levels to support an oculus connected and which could suggest that the correction whitethorn beryllium over? Let’s survey the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin continues to commercialized beneath the breakdown level of $17,622, which is simply a antagonistic sign. After a play of precocious volatility, the terms has been stuck wrong the scope betwixt $16,229 and $17,190.

The 20-day exponential moving mean ($17,980) is sloping down and the comparative spot scale (RSI) is successful the antagonistic territory, indicating that bears are successful control. If the terms turns down and breaks beneath $16,229, the BTC/USDT brace could retest the Nov. 9 debased of $15,588.

A interruption and adjacent beneath this enactment could trigger panic selling, which could propulsion the brace to $12,200. On the contrary, if buyers thrust the terms supra $17,190, it volition suggest beardown request astatine little levels.

The brace could past rally to the overhead absorption portion betwixt $17,622 and the 20-day EMA. A interruption and adjacent supra this portion could bespeak the commencement of a caller up-move.

ETH/USDT

Ether has been gradually losing crushed successful the past fewer days. The bears whitethorn effort to physique upon their vantage by pulling the terms beneath the contiguous enactment of $1,171. If they succeed, the brace could diminution to the enactment enactment of the descending transmission pattern.

The downsloping 20-day EMA ($1,325) and the RSI successful the antagonistic portion bespeak that sellers person the precocious hand. If bears propulsion the terms beneath the enactment enactment of the channel, the selling could accelerate and the ETH/USDT brace whitethorn driblet to $1,000.

The archetypal motion of spot volition beryllium a interruption and adjacent supra the moving averages. Such a determination could unfastened the gates for a imaginable rally to the downtrend line. The bulls volition person to wide this hurdle to awesome the commencement of a caller up-move.

BNB/USDT

BNB (BNB) erstwhile again dipped adjacent to the beardown enactment of $258 connected Nov. 17 but the bulls held their ground. Buyers volition present effort to commencement a alleviation rally that could scope the 20-day EMA ($291).

The downsloping 20-day EMA and the RSI successful the antagonistic territory bespeak that bears are successful control. If the terms turns down from the existent level oregon the 20-day EMA, the bears volition marque 1 much effort to interruption the enactment astatine $258. If they tin propulsion it off, the BNB/USDT brace could dive to $239 and past to $216.

Contrarily, if bulls propulsion the terms supra the 20-day EMA, the brace could emergence to the overhead absorption astatine $300. The bulls volition person to wide this hurdle to unfastened the doors for a imaginable rally to $338.

XRP/USDT

XRP (XRP) is facing selling adjacent the downtrend line. This suggests that the bears are trying to physique upon their vantage and propulsion the terms beneath the contiguous enactment of $0.36.

The downsloping 20-day EMA ($0.41) and the RSI successful the antagonistic territory bespeak that the way of slightest absorption could beryllium to the downside. If the $0.36 level gives way, the XRP/USDT brace could plunge to $0.32.

To invalidate this bearish view, buyers volition person to flooded the stiff situation successful the portion betwixt the downtrend enactment and $0.41. If that happens, the brace could prime up momentum and rally toward the 50-day SMA ($0.45).

ADA/USDT

Cardano (ADA) remains successful a beardown downtrend and the bears are trying to descend the terms beneath the important enactment astatine $0.31. However, the bulls are apt to person different plans and they whitethorn effort to support this level aggressively.

Any alleviation rally is apt to look stiff absorption successful the portion betwixt $0.35 and the 20-day EMA ($0.36). If the terms turns down from this zone, the likelihood of a interruption beneath $0.31 increases. The ADA/USDT brace could past plummet to the enactment line. This is an important level to support an oculus connected due to the fact that if it cracks, the adjacent halt could beryllium $0.25.

This antagonistic presumption could invalidate successful the adjacent word if buyers propulsion the terms supra the 20-day EMA. The brace could past emergence to the downtrend line. A interruption and adjacent supra this absorption could suggest a imaginable inclination change.

DOGE/USDT

Dogecoin (DOGE) has been trading betwixt the moving averages for the past fewer days. This suggests that the bulls are buying the dips to the 50-day SMA ($0.08) and the bears are selling the alleviation rallies to the 20-day EMA ($0.09).

The downsloping 20-day EMA and the RSI conscionable beneath the midpoint bespeak a insignificant vantage to the bears. If the terms turns down and slips beneath the 50-day SMA, the DOGE/USDT brace could driblet to $0.07 and aboriginal to $0.06.

The bulls are apt to person different plans arsenic they volition effort to propulsion and prolong the terms supra the overhead absorption astatine the 20-day EMA. If they succeed, the brace could commencement a stronger betterment and rally toward $0.12.

MATIC/USDT

After trading betwixt the moving averages for the past fewer days, Polygon (MATIC) closed beneath the 50-day SMA ($0.89) connected Nov. 17. Buyers tried to propulsion the terms backmost supra the 50-day SMA connected Nov. 18 but are facing stiff absorption from the bears.

If buyers propulsion the terms backmost supra the 50-day SMA, the MATIC/USDT brace could emergence to the 20-day EMA ($0.95). The bears are apt to equine a beardown defence astatine this level but if bulls flooded this barrier, the brace could rally to $1.05.

Alternatively, if the terms fails to emergence supra the moving averages, it volition suggest that the sentiment remains antagonistic and traders are selling connected rallies. That could summation the likelihood of a driblet to the uptrend line.

DOT/USDT

The terms enactment of the past fewer days has formed a pennant, which mostly acts arsenic a continuation pattern. The downsloping moving averages and the RSI successful the antagonistic territory bespeak that sellers person the borderline successful Polkadot (DOT).

If the terms turns down and breaks beneath the pennant, the selling could prime up. The DOT/USDT brace could commencement the adjacent limb of the downtrend connected a interruption beneath $5.32. The adjacent enactment connected the downside is astatine $4.32.

Conversely, if the terms continues higher and breaks supra the pennant, it volition invalidate the bearish setup. The brace could past emergence to the 50-day SMA ($6.22). A interruption and adjacent supra this level could suggest that the short-term downturn could beryllium over.

UNI/USDT

Uniswap (UNI) turned down from the 50-day SMA ($6.43) connected Nov. 16 but the bulls are attempting to signifier a higher debased astatine $5.66.

The bulls volition person to propulsion and prolong the terms supra the 50-day SMA to summation the precocious hand. If they negociate to bash that, the UNI/USDT brace could effort a rally to $7.36 and thereafter to $7.79.

The agelong wick connected the Nov. 18 candlestick shows that the bears are defending the moving averages. The downsloping 20-day EMA ($6.20) and the RSI conscionable beneath the midpoint suggest that bears are astatine an advantage. A interruption and adjacent beneath $5.66 whitethorn wide the way for a retest of $5.14.

LTC/USDT

Litecoin (LTC) broke and closed supra the 20-day EMA ($59) connected Nov. 17 and the RSI jumped into affirmative territory, indicating that bulls person a flimsy edge.

The up-move is apt to look stiff absorption astatine $65. If the terms turns down from this level, the LTC/USDT brace could again driblet toward the moving averages.

Contrary to this assumption, if buyers thrust and prolong the terms supra $65, the bullish momentum could prime up and the brace could effort a rally to the overhead absorption astatine $75.

The bears are expected to support this level with each their might. If the terms turns down from $75, it volition suggest that the brace whitethorn widen its enactment wrong the $46 to $75 scope for a fewer much days.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph.com. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.

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