Price analysis 11/30: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

1 year ago

Bitcoin (BTC) has shrugged disconnected the weakness successful the United States equities markets and is attempting to commencement a betterment connected Nov. 30. Buyers are attempting to execute a monthly adjacent supra $17,000. This suggests that the selling that had picked up owed to the FTX situation whitethorn beryllium reducing.

Usually, smaller investors panic and dump their holdings successful a carnivore marketplace but it has been the other with Bitcoin investors. According to Glassnode information released connected Nov. 27, investors holding little than 1 Bitcoin, besides called shrimps, bought 96,200 Bitcoin since the FTX crash.

Along akin lines, investors holding betwixt 1 to 10 Bitcoin, classified arsenic crabs, bought 191,600 Bitcoin implicit the past 30 days. This shows investors are continuing to accumulate astatine little levels.

However, a crisp betterment successful Bitcoin’s terms is improbable for immoderate time. Trading steadfast QCP Capital believes that the United States Consumer Price Index information connected Dec. 13 and the U.S. Fed’s argumentation determination connected Dec. 14 could enactment arsenic hazard factors due to the fact that galore investors could beryllium “forced to continually merchantability assets to rise liquidity.” QCP expects the concern to crook astir lone successful the 2nd oregon 3rd 4th of adjacent twelvemonth aft the Fed perchance pivots and releases liquidity successful the system.

Could Bitcoin pb the cryptocurrency markets higher? Let’s survey the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin turned up from $15,995 connected Nov. 28 and broke supra the processing descending triangle signifier connected Nov. 30. This invalidated the bearish setup and whitethorn person attracted buying from the bulls who are trying to propulsion the terms supra the 20-day exponential moving mean ($16,910).

A adjacent supra the 20-day EMA volition beryllium the archetypal motion that the bears whitethorn beryllium losing their grip. The BTC/USDT brace could past rally to $17,622 and aboriginal to the 50-day elemental moving mean ($18,434). The sellers are expected to support this portion with vigor.

If the terms turns down from the overhead portion but bounces disconnected the 20-day EMA, it volition suggest that bulls are buying the dips. That could summation the anticipation of a rally to $20,000 and past to $21,500.

Another anticipation is that the terms turns down from $17,622. If that happens, it volition suggest that the brace whitethorn consolidate betwixt $15,476 and $17,622 for immoderate much time.

ETH/USDT

Ether (ETH) turned down from the 20-day EMA ($1,234) connected Nov. 26 but the bulls arrested the diminution astatine $1,151 connected Nov. 28. This indicates a pick-up successful request and a motion that the sentiment could beryllium turning positive.

Buyers person pushed the terms supra the 20-day EMA and volition adjacent effort to interruption supra the 50-day SMA ($1,335). If they succeed, the ETH/USDT brace could rally to the absorption enactment of the descending channel. This level whitethorn pull beardown selling by the bears due to the fact that a interruption supra the transmission could bespeak a imaginable inclination change.

To invalidate this bullish view, the bears volition person to support the 50-day SMA and propulsion the terms backmost beneath $1,051. The brace could past diminution to the enactment enactment of the channel.

BNB/USDT

BNB (BNB) bounced disconnected the moving averages connected Nov. 29 but the bulls are struggling to physique upon this move. This suggests that bears are apt to airs a beardown situation betwixt $300 and $318.

The 20-day EMA ($292) is flattening retired and the RSI is conscionable supra the midpoint, indicating a equilibrium betwixt proviso and demand. The vantage could tilt successful favour of the buyers if they catapult the terms supra $318. That could wide the way for a rally to $338 wherever the bears whitethorn again erect a stiff barrier.

This affirmative presumption could invalidate successful the adjacent word if the terms turns down and plummets beneath the moving averages. The brace could past diminution to the enactment astatine $258.

XRP/USDT

The bulls successfully defended the retest of the breakout from the symmetrical triangle connected Nov. 28. This is simply a affirmative motion arsenic it shows that traders are buying the dips successful XRP (XRP).

The bounce has reached the overhead absorption astatine $0.41, which is an important level to support an oculus on. If bulls catapult the terms supra this resistance, the XRP/USDT brace could effort a rally to $0.45 and past to $0.51.

On the different hand, if the terms turns down from the existent level, it volition suggest that the bears are aggressively selling adjacent $0.41. They volition past again effort to propulsion the terms wrong the triangle. If they tin propulsion it off, the brace could driblet to $0.34.

ADA/USDT

Cardano (ADA) remains successful a downtrend but the bullish divergence connected the RSI suggests that the bearish momentum whitethorn beryllium weakening.

The bulls volition person to thrust and prolong the terms supra the 20-day EMA ($0.32) to awesome strength. If they bash that, the ADA/USDT brace whitethorn commencement a betterment to the downtrend line. The 50-day SMA ($0.36) whitethorn enactment arsenic a absorption but is apt to beryllium crossed.

Conversely, if the terms turns down from the 20-day EMA, it volition bespeak that bears are selling connected insignificant rallies. The bears volition past effort to resume the downtrend and descend the terms to the enactment line.

DOGE/USDT

Dogecoin (DOGE) bounced disconnected the 20-day EMA ($0.09) connected Nov. 28, indicating that the sentiment has turned affirmative and traders are buying the dips.

The upsloping 20-day EMA and the RSI supra 60 suggest that bulls person the precocious hand. Buyers are trying to widen the betterment to the 50% Fibonacci retracement level of $0.11 and adjacent to the 61.8% retracement level of $0.12.

The sellers are apt to equine a beardown defence successful this zone. If the terms turns down from it, the DOGE/USDT brace could again driblet to the 20-day EMA.

On the contrary, if buyers thrust the terms supra the overhead zone, the brace could implicit a 100% retracement and rally to $0.16.

MATIC/USDT

Polygon (MATIC) remains stuck betwixt the 20-day EMA ($0.88) and the uptrend line. The 20-day EMA is flattening retired and the RSI is adjacent the midpoint, indicating a equilibrium betwixt proviso and demand.

The bulls are trying to thrust the terms supra the moving averages and summation the precocious hand. If they succeed, the MATIC/USDT brace could ascent to $0.97 and past rally to $1.05. This level could again pull selling by the bears but if bulls wide this hurdle, the bullish momentum could prime up.

This affirmative presumption could invalidate successful the adjacent word if the terms turns down from the moving averages and slides beneath the uptrend line. The brace could past driblet to the important enactment astatine $0.69.

DOT/USDT

Polkadot (DOT) turned up from $5.06 connected Nov. 28, indicating that bulls are attempting to signifier a debased astatine $5. The terms reached the 20-day EMA ($5.52) connected Nov. 30, which is apt to enactment arsenic a formidable resistance.

The RSI has formed a bullish divergence arsenic it has not tracked the DOT/USDT brace lower. This indicates that the selling unit could beryllium weakening and increases the likelihood of a interruption supra the 20-day EMA. If that happens, the brace could emergence to the 50-day SMA ($6) and aboriginal effort a rally to the downtrend line.

Alternatively, if the terms turns down from the 20-day EMA, it volition suggest that bears are viewing the alleviation rallies arsenic a selling opportunity. A interruption beneath $5 could awesome the resumption of the downtrend. The adjacent enactment connected the downside is $4.32.

LTC/USDT

The agelong process connected Litecoin’s (LTC) Nov. 28 candlestick shows beardown buying astatine little levels. This suggests that buyers are trying to flip the breakout level of $75 into support.

The rising 20-day EMA ($69) and the RSI successful the affirmative territory bespeak the way of slightest absorption is to the upside. Buyers volition person to propulsion the terms supra $84 to commencement a caller up-move, which could scope $104.

Instead, if bulls neglect to propel the terms supra $84, the bears volition again effort to descend the LTC/USDT brace beneath the 20-day EMA. If they negociate to bash that, respective assertive bulls whitethorn get trapped resulting successful agelong liquidation. The brace whitethorn past autumn to the 50-day SMA ($60).

UNI/USDT

The bulls are buying the dips to the enactment enactment of the symmetrical triangle pattern. This is simply a affirmative motion arsenic it indicates request astatine little levels. Buyers are trying to fortify their presumption by pushing Uniswap (UNI) supra the 20-day EMA ($5.67).

The RSI has risen adjacent to the midpoint, indicating that the bearish momentum whitethorn beryllium weakening. If buyers prolong the terms supra the 20-day EMA, the UNI/USDT brace whitethorn effort a rally to the absorption enactment of the triangle. A interruption supra the triangle volition suggest a imaginable inclination change.

Contrarily, if the terms fails to emergence supra the moving averages, it volition suggest that the bears proceed to merchantability connected rallies. They volition past again effort to propulsion the terms beneath the triangle and unfastened the doors for a diminution to $4.60 and past $3.33.

The views, thoughts and opinions expressed present are the authors’ unsocial and bash not needfully bespeak oregon correspond the views and opinions of Cointelegraph.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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