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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and every commercial move carries risks, you must do your own research when you make a decision.
Market data is provided by the HitBTC purse.
After the disruption of large-scale wealth in the cryptocurrency space, many began to wonder whether the badet clbad would survive or disappear. NYSE President Jeffrey Sprecher is optimistic about the future of digital currencies, saying their survival as an badet clbad is "unequivocal".
Kelly Loeffler, CEO of Bakkt, is confident that the platform's futures contract will help establish a Bitcoins trust price for investors, unlike what is happening now, when Bitcoin transactions are different on different stock exchanges.
Undaunted by the fall in Bitcoin prices, Nasdaq plans to launch Bitcoin futures by the first quarter of 2019, reports Bloomberg. The entry of these two major stock exchanges shows that the demand for Bitcoin transactions is sufficient even after the current decline.
Many believe that the launch of Bitcoin ETFs can increase demand for cryptocurrencies. SEC Chairman Jay Clayton said yesterday that the commission should see improvements in market surveillance and custody before the regulator is comfortable with a Bitcoin ETF. Both companies are currently dealing with both of these issues, increasing the likelihood of a Bitcoin ETF in the near future.
According to a report by the World Trade Organization (WTO), Blockchain technology could add $ 3 trillion to international trade by 2030. This technology will help reduce costs by removing barriers, by strengthening transparency and facilitating the automation of processes.
Although Bitcoin SV is in the top 10 crypto-currencies, we have not yet included it due to its short history of trading.
BTC / USD
Bitcoins formed models of consecutive day candlesticks on 26 and 27 November. Today, indecision is resolved on the rise. The downturn could face a slight resistance at the downtrend line.
An escape from resistance might attract purchases by aggressive bulls and short cover by bears. We therefore kept the recommendation of purchase provided in our previous badysis. The key levels to watch for upward are $ 4,712.89 and $ 5,050.40.
If the BTC / USD pair fails to find buyers at higher levels and refuses to break support of $ 3,620.26, the downtrend will resume, pushing the price to a major support of $ 3,000.
Although the trend is down, we think the decline will be brutal and negotiable. So we recommended a long position.
XRP / USD
Ripple tries to bounce from the down channel support line. It was outperformed during the recent decline as it is well above its lows of the year and RSI has not even penetrated the territory of oversold sales.
An escape above USD 0.385 may result in a 20-day switch to EMA, which could be a resistance. If the two moving averages are crossed, the XRP / USD pair can join the resistance line of the channel. Traders can buy a closing (UTC time interval) greater than 0.385 USD and maintain the stop loss at 0.30 USD. The target is an increase to $ 0.50. It is a risky business, so we recommend keeping the size of the position at around 40% of normal.
Contrary to our expectations, if the price falls below $ 0.31123, a new trial of $ 0.24508 is possible.
ETH / USD
Ethereum is trying to bounce back after finding support at $ 102.20. He has a minor hurdle at $ 123, above which he can join the 20-day EMA. As the trend is down and the two moving averages are down, we expect a strong supply in the 20-day EMA zone and $ 167.32.
If the next leg stays above $ 102, this will indicate a likely floor. However, if declines drop the ETH / USD pair below $ 102, the next downside is $ 83.
We believe that the oversold readings on the RSI suggest that a downturn is likely. However, we do not see a reliable purchase configuration, so we do not recommend trading it.
BCH / USD
Over the past three days, Bitcoin Cash has consolidated in a narrow range of between USD 204.76 and USD 148.27. He has also trained doji candlesticks over the past two days, which is indicative of indecision. It is unlikely that this condition will last long. We should soon see an escape or a breakdown.
In case of failure, the fall can reach the next support at $ 100. However, given the oversold nature of the RSI, we expect an increase.
If the BCH / USD pair exceeds $ 204.76, we expect the decline to reach $ 242.90 and $ 272.14. Aggressive traders may try to trade the counter-trend rally by taking a long position (close of UTC time) above $ 205. The stop loss can be kept just below $ 147. It is a risky business, so we recommend using 40% of the usual allocation size.
XLM / USD
Stellar is trying to recover $ 0.13427050. It could face strong resistance in the $ 0.1547188- $ 0.184 zone.
An inability to climb above the upper resistance zone will lead to sales that will push the XLM / USD pair to the 25 November low. If the support is broken, the drop can reach 0.08 USD.
On the other hand, if the prices of bulls reach the level of 0.184 dollars, this will indicate that the current fall was a bear trap. Currently, we do not see any uptrend, so we do not suggest an exchange.
EOS / USD
Although the EOS went down under support at $ 3, the bears could not stand the lower levels. Speculators are currently trying to come back to $ 3.88723, but the virtual currency could face a minor resistance on the downtrend line.
The trend remains downward. However, after the initial withdrawal, we expect the EOS / USD pair to trade in a range for a few days, trying to set up a fund. Traders must wait for a reversal of trend to initiate long positions.
If the selling pressure in the next stage is very strong and is below the November 27 troughs, the decline can reach $ 2.40.
LTC / USD
Litecoin is correcting the reads sold on the RSI too much. The recovery can reach the 20-day EME, which will probably be the first hurdle.
As the decline has been strong, the recovery should also be strong. Above the 20-day EMA, the LTC / USD pair can reach the $ 47 level. Aggressive traders can try to trade the counter-trend rally, keeping tight stops and targeting small targets.
Contrary to our opinion, if the withdrawal dissipates and bears resume the downward trend, the downside support will be $ 20.
ADA / USD
Cardano formed consecutive motives in the day on November 26 and 27 that indicate indecision. Uncertainty is resolved higher, which increases the likelihood of a decline.
The recovery will face severe resistance to the 20-day EMA and above it at $ 0.060105. If the next step of a resistance goes below the $ 0.033065 mark, the downward trend can extend up to $ 0.025954.
However, next fall, if the ADA / USD reaches a higher minimum, this will indicate the possibility of a change in trend. Traders must wait for the setup of a reliable purchase before continuing.
XMR / USD
Monero maintained support for $ 53.10 on November 26 and 27. The bulls are currently attempting a withdrawal that could face obstacles at $ 71, the EMA at 20 days and at $ 81.
If the XMR / USD pair declines after resistance and drops below $ 53, the next support is significantly lower at $ 40.
The next correction following the withdrawal will confirm if a background is in place. We expect digital currency to move into range-linked action for a few days before starting a new uptrend.
TRX / USD
The decline of TRON brought the ceiling resistance to $ 0.01587681. The 20-day EMA is also located just above this level. We expect strong resistance at this level, but if the bulls escape, a recovery at $ 0.0183 is possible.
This should be treated only as a pullback as the trend remains down with both moving averages down. Next fall will confirm if a background is in place.
A break below the bottom of the day of 0.01089965 USD on November 25 could drop the TRX / USD pair to the next support at 0.00844479. It is best to wait until the background is confirmed before engaging long positions.
Market data is provided by the HitBTC purse. Charts for badysis are provided by TradingView.
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