There are a lot of cryptocurrencies out there, and to help you navigate the space better, I’ve listed every crypto under one category.
This article will cover BTC, ETH, BNB (both Ripple), SOL (SolarCoin), ADA/XRP (Cardano), DOT/DOGE (Dogecoin) , AVAX/SHIB(byteball).
The “cointelegraph price analysis” is a website that provides information on crypto coins. The site has a blog post that gives an overview of the current prices and how they have been changing over time.
On November 26, Bitcoin (BTC) and most major cryptocurrencies, as well as global equities markets and crude oil, all fell. The revelation of a novel coronavirus variety discovered in South Africa, which is alarming experts owing to its enormous number of mutations in the spike protein, roiled the markets.
Over $750 million in cross-crypto liquidations have occurred in the last 24 hours as a consequence of the dramatic drop, yet funding rates across exchanges have remained high. This indicates that the sale may not yet be complete.
Performance of the bitcoin market on a daily basis. Coin360 is the source of this information.
Bitcoin’s November monthly closing is unlikely to reach analyst PlanB’s worst-case scenario of $98,000. This will be the model’s first fail after it correctly forecasted end-of-month price levels in August, September, and October. However, the inventor of the stock-to-flow model feels that the $100,000 estimate for Bitcoin in this halving cycle is still valid.
Is the latest drop a Black Friday bargain or the beginnings of a short-term bear market? Let’s look at the charts of the top ten cryptocurrencies to see what we can learn.
On Nov. 25, the bulls pushed Bitcoin back over the $58,000 breakdown level, but they were unable to break through the barrier at the 20-day exponential moving average ($59,510). Traders may have been enticed to book profits as a result of this.
Daily chart of BTC/USDT. TradingView is the source of this information.
After breaching below $55,317 today, the selling gathered up steam, and the next halt might be the psychological support at $50,000.
Buyers will try to push the price above the 20-day EMA if the price bounces off this level. If they succeed, it means that the selling pressure is beginning to ease.
If, on the other hand, the following bounce turns down from the 20-day EMA, it means sentiment has shifted negative and traders are selling rallies. This raises the likelihood of a break below $50,000.
If that occurs, panic selling in the BTC/USDT pair may push the price down near $40,000.
On Nov. 25, Ether (ETH) broke over the 20-day EMA ($4,336), but the rally was short-lived, as the price fell rapidly today to the neckline of a forming head and shoulders (H&S) pattern.
Daily chart of ETH/USDT. TradingView is the source of this information.
The bulls are vigorously defending the neckline. If the price bounces off the neckline, buyers will try to break through the $4,551 overhead barrier. This may open the door for a retest of the all-time high of $4,868.
A closure below the neckline, on the other hand, will complete the bearish pattern. As a result, selling might get more intense, and the ETH/USDT pair could drop below the $3,600 to $3,400 support zone. If this zone likewise fractures, the goal objective at $3,047 might be the next halt.
On Nov. 25, Binance Coin (BNB) rose beyond the overhead barrier at $605.20, but the bulls were unable to break through the significant resistance at $669.30. This shows that bears are fiercely protecting this level.
Daily chart of the BNB/USDT currency pair. TradingView is the source of this information.
Short-term traders may have profited from the inability to surge over $669.30. Today, the price has fallen below the 20-day EMA ($590). The bears will now attempt to drive the BNB/USDT pair below its 50-day simple moving average ($539).
A break and closure below the 50-day SMA might signal a shift in trend. If the price falls below $510, the selling might pick up speed. The price of the pair may then fall to $450.
To signify a return of the uptrend, the bulls must push the price over the overhead resistance zone of $669.30 to $691.80.
On Nov. 25, Solana (SOL) bounced off the 50-day SMA ($202), but declined from the 20-day EMA ($216). This indicates a shift in mindset away from buying on dips and toward selling on rises.
Daily chart of SOL/USDT. TradingView is the source of this information.
The selling has resumed today, and the bears are seeking to push the stock below the symmetrical triangle’s support line. The SOL/USDT pair might fall to $153 and subsequently to $140 if they keep the price below the triangle.
Bears have the upper hand, as seen by the downsloping 20-day EMA and the relative strength index (RSI) below 43. If the price rises from its present level and breaks over the triangle’s resistance line, this bearish view will be invalidated.
On Nov. 25, Cardano (ADA) created an inside-day Doji candlestick pattern, suggesting that bulls and bears are undecided. With a break below $1.58, this ambiguity was resolved to the negative today.
Daily chart of the ADA/USDT currency pair. TradingView is the source of this information.
At $1.50, the ADA/USDT pair has good support. Although the bears have an edge due to the downsloping moving averages, the RSI is in oversold zone, suggesting that the selling may have been overdone in the near term.
The bulls may try a rescue recovery, but it will almost certainly be met with robust selling near the 20-day EMA ($1.85). If the price falls below this level, the bears will try to push the pair below $1.50 once again. If they succeed, the price of the pair might fall below $1. A break and closure above the 20-day EMA will be the first indicator of strength.
Although bulls have been able to hold the $1 support for a few days, they have been unable to push XRP over the 20-day EMA ($1.08). This indicates that there is a shortage of demand at higher levels.
Daily chart of XRP/USDT. TradingView is the source of this information.
Today, the selling escalated, and bears drove the price below the psychological support level of $1. The XRP/USDT pair might potentially drop below $0.85, which is a solid support level. The bulls will try to push the price over $1 if the price bounces off this level.
If they succeed, the pair may try to gradually move up toward the $1.24 overhead barrier. In the event that the price falls below $0.85 and breaks below $1, the pair might fall to $0.70.
On Nov. 25, Polkadot (DOT) jumped off the uptrend line, but the bulls were unable to maintain the higher levels. Today, the selling became more intense, and the price fell below $37.53, completing a bearish H&S pattern.
Daily DOT/USDT chart. TradingView is the source of this information.
The DOT/USDT pair may now drop to $32 and then to $26, where bulls may attempt to halt the collapse. The breakthrough level at 38.70 is a key mark to watch on the upside.
If the price falls below this level, it indicates that mood is still negative and that traders are selling rallies.
Bulls driving and maintaining the price over $38.70, on the other hand, will indicate strong demand at lower levels. A break and closing above $43.56 might tip the scales in the bulls’ favor.
The Basic Attention Token (BAT) price has reached a new high following a 30 percent daily gain, bucking the crypto downturn.
On Nov. 25, Dogecoin (DOGE) tried a relief rally, but bears sold around the downtrend line, as seen by the lengthy wick on the day’s candlestick.
Daily chart of DOGE/USDT. TradingView is the source of this information.
Today, the selling accelerated, and the DOGE/USDT pair fell below the immediate support level of $0.21, as well as the strong support level of $0.19. Currently, the bulls are seeking to defend the $0.19 level.
If the price rises over the present level, the bears will be back in the game at $0.21. If this level becomes resistance, the chances of a break below $0.19 become more likely. If that occurs, the pair might fall below $0.15, which is a major support level. A break and closure above the 20-day EMA ($0.23) would be the first indicator of strength.
On Nov. 25, Avalanche (AVAX) bounced back from the 38.2 percent Fibonacci retracement level of $112.63, but the lengthy wick on the candlestick indicates that traders sold on rallies.
Daily chart of AVAX/USDT. TradingView is the source of this information.
The AVAX/USDT pair has fallen to the 20-day exponential moving average ($105) today. Traders purchase on falls to the 20-day EMA during uptrends, thus this is an essential level to monitor. The bulls will attempt to push the price to $130 if the price recovers from its current level.
Bears may bring the price below the 20-day EMA and the 50% retracement level at $102.01, taking the pair to the 61.8 percent Fibonacci retracement level at $91.39. The longer it takes for the following leg of the up-move to begin, the deeper the fall.
On November 24, SHIBA INU (SHIB) fell below the strong support level of $0.000040. On Nov. 25, the bulls sought to push the price above the level in order to trap the aggressive bears, but they were unable to pass the overhead obstacle at the 20-day EMA ($0.000046).
Daily chart of SHIB/USDT. TradingView is the source of this information.
Traders are selling on rallies around above resistance levels, indicating that they are selling. Today, the bears have dragged the price back below $0.000040, raising the chances of a repeat of the decline.
The SHIB/USDT pair might now reach $0.000027 after completing a 100 percent retracement. If the price rises above the present level and breaks above the 20-day EMA, this bearish view will be invalidated. After that, the pair might increase to $0.000052.
The author’s thoughts and opinions are purely his or her own and do not necessarily represent those of Cointelegraph. Every investment and trading decision entails some level of risk. When making a choice, you should do your own research.
HitBTC exchange provides market statistics.
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The “most bullish cryptocurrency” is a term that has been used to describe the most popular and successful cryptocurrencies. The top four most bullish cryptocurrencies are BTC, ETH, BNB, and SOL.
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