Price analysis 11/27: BTC, ETH, XRP, BCH, LINK, LTC, ADA, DOT, XLM, BNB

Bitcoin's (BTC) rising above $20,000 volition take to expect, as the price saw a strong correction and turned abroad from reaching a new all-time high.

Data suggests that whales decided to book profits when Bitcoin was close to $19,000, and this pulled the price lower. This autumn could have resulted in the liquidation of overleveraged positions in the futures market and further aggravated the pass up.

The current correction is a healthy sign, equally the crypto market was becoming overheated every bit several altcoins rallied vertically in the past week. While some altcoins have given back a big portion of their contempo up-move, Bitcoin remains strong, suggesting that investors are buying into support at lower levels.

*Daily cryptocurrency market place performance. Source:* *Coin360*

Milky way Digital founder and CEO Mike Novogratz recently said that Bitcoin is attracting institutional investors because it is viewed as a hedge against the debasement of fiat currency. Novogratz suggested investors keep about 2% to iii% of their net worth in Bitcoin with a long-term objective, as he believes BTC volition be worth a lot more in five years.

All the same, traders should await for the price to stabilize and form a base earlier buying because trying to catch a falling knife could be dangerous. Traders can watch the price action near the critical back up levels, then consider buying if they agree steady.

Let's analyze the acme x cryptocurrencies to spot the important support levels that may attract buyers.

BTC/USD

Bitcoin (BTC) turned downwards from $19,458.56 on November. 25, and the selling intensified on Nov. 26, which pulled the price below the 20-day exponential moving average ($17,048) for the first time since Oct. eight.

The bulls defended the 38.two% Fibonacci retracement level of $16,049.61 on Nov. 26, but they are struggling to sustain the toll in a higher place the 20-day EMA. This suggests that traders are selling on rallies.

If the bears sink the price below $16,049.61, the next back up is probable to be the l% retracement level of $14,996.59, which is placed just in a higher place the 50-day simple moving average at $xiv,535. The bulls are likely to defend this level aggressively.

The xx-day EMA has flattened out, and the relative strength index (RSI) near the midpoint suggests a range germination in the short term.

ETH/USD

Ether (ETH) turned down from the stiff overhead resistance at $625 on November. 24 equally traders booked profits. The selling intensified on Nov. 26, and the biggest altcoin broke beneath the 38.2% Fibonacci retracement level of $526.348, the 20-day EMA at $504.

The bulls purchased the dip to the breakout level of $488.134, every bit seen from the long tail on the Nov. 26 candlestick. Still, the bulls are struggling to sustain the rebound equally traders are selling on pocket-sized rallies.

If the bears sink the cost below $488.134, a driblet to the 61.eight% Fibonacci retracement level of $466.755 is possible. A pause below this support will shift the advantage in favor of the bears.

On the other hand, a potent rebound off the current level or the support at $466.755 volition suggest demand at lower levels, and that could go along the ETH/USD pair range-bound for a few days.

XRP/USD

After the long wick on the Nov. 24 candlestick, XRP formed an inside day candlestick design on Nov. 25 that closed in the red. This showed that the bulls were booking profits later on the sharp rally of the past few days.

The XRP/USD pair plunged to the 61.eight% Fibonacci retracement level of $0.438968 on November. 26, only the long tail on the candlestick shows buying at lower levels.

However, the bears are unlikely to surrender their reward. They are selling on rallies and the pair has formed a Doji candlestick pattern today. This suggests that the pair could consolidate in a range for a few days earlier the next trending move.

BCH/USD

Bitcoin Cash (BCH) nosedived on Nov. 25 and 26 and completed a 100% retracement of the latest leg of the uptrend that had started on Nov. 20.

Although the bulls purchased the dip on Nov. 26, the price turned downwardly from the 20-day EMA ($277) today. This suggests that the sentiment has inverse from buy on dips to sell on rallies.

The bears will now try to sink the price beneath the $231 support. If that happens, the BCH/USD pair could drib to $200. Conversely, if the bulls push the price above $280, the pair may rise to $300.

LINK/USD

The bulls could not flip $13.28, the neckline of the changed head-and-shoulders blueprint, into support on November. 26. This attracted further selling, and Chainlink's LINK plummeted beneath the moving averages.

The bulls are currently attempting to defend the 50-day SMA, just the weak rebound off it suggests a lack of urgency to buy, even at these levels.

If the bulls fail to push button the price dorsum above $13.28 within the side by side few days, the bears will endeavor to drag the toll downward to $10. A break below this back up could shift the advantage in favor of the bears.

Contrary to this assumption, if the bulls push and sustain the price in a higher place $13.28, it will suggest that the sentiment remains bullish.

LTC/USD

Litecoin (LTC) formed a Doji candlestick blueprint on November. 24, and that was followed by a abrupt drop on Nov. 25. This suggested aggressive profit-booking past the bulls and selling by the bears.

The failure of the LTC/USD pair to rebound off the 38.2% Fibonacci retracement level of $75.943, or the twenty-day EMA ($73), shows that the bulls are not ownership on dips.

Although the pair rebounded off the 61.viii% Fibonacci retracement level of $64.8317 on Nov. 26, the bulls could not push button the cost to a higher place the twenty-day EMA.

If the price breaks below $64, a drop to the 50-twenty-four hour period SMA ($60) is possible. Conversely, if the bulls can push the price above the 20-solar day EMA, it will point to a possible range-bound activeness for a few days.

ADA/USD

Cardano'south ADA formed a dark cloud cover candlestick blueprint on November. 25, which indicates a bearish reversal. This was followed past farther selling from the aggressive bears and covering of long positions by the trapped bulls.

The ADA/USD pair plunged on Nov. 26 and dipped below the 20-day EMA ($0.126), but the long tail on the candlestick shows buying at lower levels.

However, the buyers have non been able to sustain the bullish momentum, as the bears are selling even on small-scale rallies. If the bears can sink the toll below the 20-day EMA, the pair could drop to $0.1142241.

On the contrary, if the pair again rebounds off the 20-day EMA, it could rising to $0.155, and then consolidate in a range for a few days before starting the side by side trending movement.

DOT/USD

The bulls could not sustain the breakout above $5.5899, and Polkadot'due south DOT plunged back below this level on Nov. 25. This trapped the ambitious bulls who may have been forced to encompass their positions in a hurry.

Due to this, and the aggressive selling by the bears, the DOT/USD pair plummeted beneath the 20-day EMA ($4.91) on November. 26. The failure to defend this support is a negative sign and suggests that the bulls are not buying the dips anymore.

There was a bounce off the l-solar day SMA ($four.46), but the bulls are finding it difficult to sustain the price in a higher place the 20-day EMA.

If the bears sink the price below the 50-twenty-four hour period SMA, the pair could drop to $3.fourscore, then to the critical support at $3.5321. The flattish moving averages and the RSI simply below the midpoint suggest that the pair could remain range-spring for a few more days.

XLM/USD

Stellar Lumens (XLM) formed a Doji candlestick pattern on Nov. 25 that had a long wick. This suggests aggressive selling by the bears at college levels. The bears continued their selling on the next day, and the altcoin plunged to $0.145377, just to a higher place the 61.8% Fibonacci retracement level of $0.140209.

The bulls purchased the dip on Nov. 26 and are currently attempting to resume the uptrend. However, the college levels are again probable to concenter selling.

After the large trending moves of the past few days, the volatility is probable to reduce, and the XLM/USD pair could consolidate in a range for a few days.

This view will be invalidated if the bears sink the toll below the 20-mean solar day EMA ($0.122) or the bulls propel the toll in a higher place $0.231655.

BNB/USD

The bulls could non sustain Binance Coin (BNB) in a higher place $33.3888 on Nov. 25, and the price dipped dorsum beneath the $32 support. This could have trapped several bulls who had purchased on the breakout higher up the $32–to–$33.3888 zone.

Aggressive selling by the bears and liquidation past the bulls on Nov. 26 pulled the toll down to $26.35, but above the critical back up at $25.6652. If the bears sink the price below this back up, the BNB/USD pair could plummet to $19.

However, the crisscrossing moving averages and the RSI in the negative territory do not advise a clear advantage either to the bulls or the bears. Therefore, if the price rebounds off $25.6652, the pair may remain range-bound for a few more days.

The views and opinions expressed here are solely those of the author and practise not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should bear your ain enquiry when making a decision.

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