Price analysis 11/25: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

1 year ago

FTX’s illness dealt a large stroke to the already fragile sentiment among cryptocurrency investors. Although a speedy betterment is unlikely, Blockchain investigation steadfast Chainalysis said that the crypto beingness could look stronger from this crisis. Chainalysis’ probe pb Eric Jardine arrived astatine the decision aft comparing FTX’s autumn to that of Mt. Gox.

Another calming connection came from Bloomberg Intelligence exchange-traded money expert James Seyffart, who said that determination was a “99.9% chance” that the Grayscale Bitcoin Trust (GBTC) held the Bitcoin (BTC) it claimed. He added that GBTC was “unlikely” to beryllium liquidated.

The antagonistic events of the past fewer days bash not look to person frightened distant the tiny investors who stay connected an accumulating spree. According to blockchain analytics institution Glassnode, the fig of wallets holding astatine slightest 1 Bitcoin oregon much soared successful November and reached 950,000.

Could Bitcoin and altcoins widen their betterment successful the adjacent term? Let’s survey the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin rebounded disconnected $15,476 connected Nov. 21, indicating that little levels are attracting buying by the assertive bulls. The comparative spot scale (RSI) has formed a bullish divergence, suggesting that the bears whitethorn beryllium losing their grip.

Buyers volition effort to propulsion the terms supra the overhead absorption portion betwixt the 20-day exponential moving mean ($17,186) and $17,622. If they negociate to bash that, the BTC/USDT brace could bespeak a imaginable alteration successful trend.

The brace could past emergence to the 50-day elemental moving mean ($18,718) and thereafter situation the intelligence level of $20,000.

Contrary to this assumption, if the terms turns down from the existent level oregon the overhead resistance, it volition suggest that bears stay sellers connected alleviation rallies. The bears volition past again effort to descend the brace beneath $15,588 and resume the downtrend. The adjacent enactment connected the downside is astatine $12,200.

ETH/USDT

Ether (ETH) rebounded disconnected the beardown enactment adjacent $1,073 connected Nov. 22 and broke supra the downtrend enactment connected Nov. 24. This suggests that the bulls are attempting a comeback.

The ETH/USDT brace could adjacent emergence to the 20-day EMA ($1,248), which is an important level to ticker retired for. If buyers flooded this barrier, the brace could effort a rally to the absorption enactment of the descending transmission pattern.

On the different hand, if the terms turns down from the 20-day EMA, it volition suggest that the sentiment remains antagonistic and traders are selling connected rallies. The bears volition past endeavor to propulsion the terms to the enactment enactment of the channel. If this enactment cracks, the brace could plunge to the captious enactment portion betwixt $1,000 and $881.

BNB/USDT

BNB (BNB) broke beneath the beardown enactment of $258 connected Nov. 21 but this proved to beryllium a carnivore trap. The terms turned up connected Nov. 22 and the momentum picked up further connected Nov. 23. This drove the terms to the overhead absorption astatine $300.

The bulls and the bears are witnessing a pugnacious conflict astatine $300 arsenic seen from the Doji candlestick signifier formed connected Nov. 24 and 25. If bulls travel retired connected top, the BNB/USDT brace could ascent to $338 wherever the bears whitethorn again equine a beardown defense.

On the contrary, if the terms turns down from the existent level and breaks beneath the moving averages, it volition suggest that the brace whitethorn stay range-bound betwixt $258 and $300 for a fewer much days.

XRP/USDT

XRP (XRP) turned up from $0.34 connected Nov. 21 and changeable up supra the symmetrical triangle and the 20-day EMA ($0.40) connected Nov. 24. This showed that the uncertainty betwixt the buyers and sellers resolved successful favour of the bulls.

The buyers are trying to physique upon the vantage by pushing the terms supra the overhead absorption astatine $0.41. If they succeed, the XRP/USDT brace could prime up momentum and emergence to $0.50 and past to $0.56.

However, the bears are apt to person different plans. They volition effort to stall the betterment astatine $0.41 and propulsion the terms backmost into the triangle. If that happens, the assertive bulls whitethorn get trapped and the brace could past plummet to the enactment line.

ADA/USDT

Cardano (ADA) is successful a beardown downtrend. The bulls purchased the dip beneath $0.30 connected Nov. 22 but are struggling to propulsion the terms to the 20-day EMA ($0.33).

The downsloping moving averages bespeak that bears person the precocious manus but the RSI is forming a bullish divergence, which suggests that the selling unit whitethorn beryllium reducing. The archetypal motion of spot volition beryllium a interruption supra the 20-day EMA. The ADA/USDT brace could past effort a rally to the 50-day SMA ($0.36) and subsequently to the downtrend line.

Instead, if the terms turns down from the existent level oregon the 20-day EMA, the brace could widen its downtrend and driblet to the enactment line.

DOGE/USDT

Dogecoin (DOGE) rebounded disconnected the enactment astatine $0.07 connected Nov. 21, indicating that the bulls are trying to found a higher debased astatine this level.

The alleviation rally has reached $0.09 wherever the bulls are apt to brushwood beardown absorption from the bears. If the terms turns down from the existent level, the DOGE/USDT brace could stay range-bound betwixt $0.07 and $0.09 for immoderate time.

Contrarily, if buyers propel the terms supra the overhead resistance, the bullish momentum could prime up and the brace whitethorn commencement a rally to the 38.2% Fibonacci retracement level of $0.10 and past to the 50% retracement level of $0.11.

MATIC/USDT

Polygon (MATIC) rebounded disconnected the uptrend enactment connected Nov. 21 but the alleviation rally turned down from the moving averages connected Nov. 24. This suggests that the bears are progressive astatine higher levels.

The sellers whitethorn erstwhile again effort to descend the terms beneath the uptrend line. If they negociate to bash that, the MATIC/USDT brace could driblet to the important enactment astatine $0.69. The bulls are expected to vigorously support this level due to the fact that if it cracks, the brace could commencement a caller down determination and driblet to $0.52.

Conversely, if the terms turns up and rises supra the moving averages, the short-term vantage could tilt successful favour of the bulls. The brace could past rally to $0.97 and aboriginal to $1.05.

DOT/USDT

Polkadot’s (DOT) rebound disconnected $5 is facing absorption adjacent the 20-day EMA ($5.69). This suggests that bears proceed to presumption the rallies arsenic a selling opportunity.

If the terms turns down from this level, the bears volition effort to propulsion the DOT/USDT brace to the important enactment astatine $5. A interruption and adjacent beneath this level volition bespeak the resumption of the downtrend. The brace could past diminution to $4.32.

To invalidate this antagonistic view, the bulls volition person to propulsion and prolong the terms supra the moving averages. If they tin propulsion it off, it volition suggest that the downtrend could beryllium ending. The brace could past rally to $7.43.

LTC/USDT

Litecoin (LTC) surged and closed supra the overhead absorption of $75 connected Nov. 23 but the bulls could not physique upon the breakout. The bears are attempting to propulsion the terms backmost beneath $75 connected Nov. 25.

If they succeed, the LTC/USDT brace could driblet to the 20-day EMA ($65). This is an important level to support an oculus connected due to the fact that a beardown bounce disconnected it volition suggest a alteration successful sentiment from selling connected rallies to buying connected dips. The bulls volition past strive to propulsion the terms supra $84 and unfastened the doors for a imaginable rally to $104.

Alternatively, if bears propulsion the terms beneath the 20-day EMA, it volition bespeak that higher levels proceed to pull sellers. The brace could past driblet to the 50-day SMA ($58).

UNI/USDT

Uniswap (UNI) has formed a ample symmetrical triangle pattern, suggesting indecision among the bulls and the bears. The terms rebounded disconnected the enactment enactment of the triangle connected Nov. 22, indicating buying astatine little levels.

The betterment effort could look absorption astatine the moving averages. If the terms turns down from it, the bears volition again effort to descend the UNI/USDT brace beneath the triangle. If that happens, the brace could driblet to $3.33.

Contrary to this assumption, if bulls thrust the terms supra the moving averages, the brace could ascent to the absorption enactment of the triangle. This level could enactment arsenic a large hurdle but if bulls flooded it, the brace could emergence to $8 and thereafter effort a rally to $10.

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

Market information is provided by HitBTC exchange.

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