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Bitcoin, Ripple, Ethereum, Bitcoin Cash, Stellar, EOS, Litecoin, Tether, Cardano, Monero, TRON, DASH: Price Analysis, Nov. 29

Bitcoin Price Analysis – BTC/USD Having been ranked number one by market cap that stands at the at the level of $72,364,550,517 on November 29, 04:20 UTC, Bitcoin has seen a dramatic move in its value from attained its position in the oversold horizon recently. Though both the moving averages have turned down showing a …

Bitcoin Price Analysis – BTC/USD

BTC/USD

Having been ranked number one by market cap that stands at the at the level of $72,364,550,517 on November 29, 04:20 UTC, Bitcoin has seen a dramatic move in its value from attained its position in the oversold horizon recently. Though both the moving averages have turned down showing a negative sign, it seems that investors started investing in this currency which can be analyzed from the analytics above. Recently the 14-day RSI has hit deeply oversold levels by showing that selling has been overdone, however we can see the pullback as of now. Needless to say that the strong bearish pressure has successfully dropped in current value by 34.5% compared with the level of November 14 and that of September 04 level slashed by 42.26%. Since no consolidation phase can be observed as of now as the current value traded below EMA suggesting “downtrend” in amount. If we analyze the BTC/USD pair in the recent past, it remained in a range bound from June 28 to July 24 this year as the cryptocurrency rallied from a low of $5796 to a high of $8495, which is almost 46.5% percent return within 26 days. However, since then it experienced fluctuating downward slope until it reached the current level. Based on the current scenario, the next support level can be estimated at $4462. Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer Bitcoin network without the need for intermediaries.

Ripple Price Analysis – XRP/USD

XRP/USD

The second largest cryptocurrency by a market cap which stands at the level of $15,249,516,343 on November 29, 04:21 UTC, Ripple has observed the fluctuating downward trend so far. The current value traded below both moving averages slashed by 32% compared with the level of November 06. Since no bullish patterns that suggest a buy, hence, it is best to remain on the sidelines for the time being, and those involved in trading activities should wait for the trend to rebound and a bottom to form before initiating any long positions in it. Besides this, when we analyze the XRP/USD pair in the recent past, it remained range bound from August 14 to September 21 this year as it rallied from a low of $0.25189 to a high of $0.7913, which is almost 214% percent return within 38 days. However, since then it experienced fluctuating downward slope until it reached the current level. The next support level can be estimated at $0.40. Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company.

Ethereum Price Analysis – ETH/USD

ETH/USD

The third largest cryptocurrency by market cap that stands today at the level of $12,119,888,469 on November 29, 04:21 UTC has seen its value immersed as both moving averages have turned down, which is a negative sign. With this, the recent 14-day RSI has hit deeply oversold levels, which suggests that selling has been overdone and a pullback is likely. The current value dropped by 46% compared with the level of November 06. Besides this, when we analyze the ETH/USD pair in the recent past, it remained in a range bound from September 12 to October 15 this year as the value rallied from a low of $170 to a high of $246, which is almost 44.7% percent return within 33 days. However, since then it experienced continuously downward slope until it reached the current level. While no consolidation phase can be observed for some time, the next support level can be estimated at $126 Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality. It supports a modified version of the Nakamoto consensus via transaction-based state transitions.

Bitcoin Cash Price Analysis – BCH/USD

 BCH/USD

The fourth largest cryptocurrency by the market cap which stands at the level of $3,220,955,708 on November 29, 04:22 UTC has been in the “Oversold” zone which can be analyzed from the 14-day RSI. With this, both moving averages have turned down, which is a negative sign. The falling 20-day EMA and the RSI in the oversold territory show that the bears have the upper hand. The BCH/USD remains in a bearish trend in its medium-term outlook. The strong bearish pressure has successfully caused a drop in current value by 69.8% compared with the level on November 06 by making it the lowest low of the day before exhaustion set in. Since no bullish patterns that suggest a buy, hence, it is best to remain on the sidelines. Amid the entire scenario, if we analyze the BCH/USD pair in the recent past, it remained in a range bound from October 29 to November 07 this year as the cryptocurrency rallied from a low of $408 to a high of $653, which is almost 60% percent return within nine days. However, since then it experienced continuously downward slope until it reached the current level. While no consolidation phase can be observed as of now, the next support level can be estimated at $190. Bitcoin Cash is a cryptocurrency. In mid-2017, a group of developers wanting to increase bitcoin’s block size limit prepared a code change. The change, called a hard fork, took effect on 1 August 2017. As a result, the bitcoin ledger called the blockchain and the cryptocurrency split in two.

Stellar Price Analysis – XLM/USD

XLM/USD

The fifth largest cryptocurrency which was at the level of sixth on November 26 by market cap, Stellar stands at the level of $2,989,903,599 on November 29, 04:23 UTC, Stellar has perforated in current value by 44% compared with the value traded on November 11. As we can analyze that both moving averages have turned down continuously representing the “downtrend.” Since the attaining its position in the oversold territory recently, it trend looks slightly upwards, and it seems that the investors have not given up on the team’s promises that they give at a time of introducing Stellar coin. Amid the entire scenario, if we analyze the XLM/USD pair in the recent past, it remained in range bound from October 11 to November 12 this year as the cryptocurrency rallied from a low of $0.2068 to a high of $0.288, which is almost 39% percent return in nearly 31 days. However, since then it experienced continuously downward slope until it reached the current level. The next support level can be estimated at $0.174. Stellar is an open-source, decentralized protocol for digital currency to fiat currency transfers which allows cross-border transactions between any pair of currencies. The Stellar protocol is supported by a nonprofit, the Stellar Development Foundation.

EOS Price Analysis – EOS/USD

EOS/USD

The sixth largest cryptocurrency which was at the level of 5th on November 26, EOS having its market cap that stands at the level of $2,805,985,031 on November 29, 04:23 UTC has slumped in current value by 45.7% compared to November 06 since both moving averages have slashed continuously showing a negative sign. With this, the 14-day RSI has hit deeply oversold levels, which suggests that selling has been overdone and a pullback is likely. The falling 20-day EMA and the 14-day RSI in the oversold territory show that the bears have the upper hand. Let us not forget that the EOS/USD remains in a bearish trend in its medium-term outlook. The competitive factors and a strong bearish pressure have successfully dropped the current value by making the lowest low of the day before exhaustion set in. However, if we analyze the EOS/USD pair in the recent past, it remained in a range bound from August 14 to September 01 this year as the cryptocurrency rallied from a low of $4.19 to a high of $6.85, which is almost 63% percent return within 16 days. However, since then it experienced “descending bottom” until it reached the current level. While no consolidation phase can be sought as of now, the next support level can be estimated at $3.21 EOS.IO is a blockchain protocol powered by the native cryptocurrency EOS. The protocol emulates most of the attributes of a real computer including hardware with the computing resources distributed equally among EOS cryptocurrency holders.

Litecoin Price Analysis – LTC/USD

LTC/USD

The seventh largest cryptocurrency, Litecoin having its market cap stands at the level of $1,984,782,141 on November 29, 04:24 UTC has recently observed its “Oversold” zone through the 14-day RSI which seems to have scaled up slightly represent the fact that the pullback has been followed. The primary reason for this cryptocurrency to drop on value is due to the strong bearish pressure and competitive factors. The consolidation might take place if the price traded at the level of $35. However, the current value is dropped in value by 39%. Amid this, if analyze the LTC/USD pair in the recent past, it remained in a range bound from June 29 to July 18 this year as the cryptocurrency rallied from a low of $72 to a high of $94 which is almost 30.5% percent return within 20 days. However, since then it experienced continuously downward slope until it reached the current level. The next support level can be estimated at $36. Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins are based on an open source cryptographic protocol and is not managed by any central authority. Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011.

Tether Price Analysis – USDT/USD

USDT/USD

The eighth largest cryptocurrency, Tether with the current market cap stands at the level of $1,853,254,395 on November 29, 04:24 UTC is supposedly believed to have regained the investors’ confidence which can be analyzed from the current value which is increased by 2%. This cryptocurrency did not see any “overbought” or “oversold” zone since last quarter. Besides this, when we analyze the USDT/USD pair in the recent past, it remained in a range bound from November 23 to November 28 this year as the cryptocurrency rallied from a low of $0.99 to a high of $1.013, which is almost 2.33% percent return within five days. Since consolidation phase can be observed at present, the next support level can be estimated at $1.009 Tether is a controversial cryptocurrency with tokens issued by Tether Limited, which claims that each token issued is backed by one United States dollar though they may not necessarily be redeemed through the Tether platform.

Cardano Price Analysis – ADA/USD

ADA/USD

The tenth largest cryptocurrency, Cardano, it believed to have a dramatic move in the recent past when it was in the “Oversold” category which can be analyzed from the 14-day RSI. However, Cardano having its market cap stands at the level of $1,038,198,674 on November 29, 04:25 UTC has observed its current value traded below EMA and slashed by 48% approx. compared with November 05 level. Besides this, when we analyze the ADA/USD pair in the recent past, it remained in a range bound from October 18 to November 06 this year as the cryptocurrency rallied from a low of $0.065 to a high of $0.082, which is almost 26% percent return within 18 days. However, since then it experienced continuously downward pressure until it reached the current level. Amid the current scenario, we can estimate the next support level at $0.045. Cardano is a distributed computing platform that runs the blockchain for the Ada cryptocurrency. Cardano was created by blockchain development firm Input Output Hong Kong and led by Charles Hoskinson, former co-founder of Ethereum. Cardano is administered by the Cardano Foundation, based in Switzerland.

Monero Price Analysis – XMR/USD

XMR/USD

The eleventh largest cryptocurrency, Monero which was on the ninth rank on November 26 which has been replaced by Bitcoin SV by market cap. The current market cap of Monero stands at the level of $1,020,769,883 on November 29, 04:25 UTC. The current value traded below EMA which signals a negative sign as the present value declined by 44.6% compared with November 06 level. Just recently the 14-day RSI observed “oversold” zone; the cryptocurrency started experiencing a pullback as of now. For all those that would like to invest in this cryptocurrency may invest in this currency as the current value offers the best opportunity for the long-term investment. However, if we take a look and analyze the XMR/USD pair in the recent past, it remained in a range bound from September 12 to October 15 this year as the cryptocurrency rallied from a low of $96 to a high of $125 which is almost 30.20% percent return within 33 days. However, since then it experienced highly fluctuated trends until it reached the current level. While the next support level can be estimated at $66. Monero is an open-source cryptocurrency created in April 2014 that focuses on fungibility, privacy, and decentralization. Monero uses an obfuscated public ledger, meaning anybody can broadcast or send transactions, but no outside observer can tell the source, amount or destination.

Tron Price Analysis – TRX/USD

TRX/USD

The twelfth largest cryptocurrency (which was on the eleventh rank on November 26 by market cap) stands at the level of $953,495,883 on November 29, 04:25 UTC, Tron has recently experienced “Oversold” territory, however it seems that it started regaining investors’ confidence by attaining a dramatic upward move. The current value below EMA representing “Downtrend” slashed by 43.5% compared to the level of October 07. Since July this cryptocurrency has experienced downward pressure till date. However, both moving averages have turned down, which is a negative sign. Amid the entire story, if we analyze the TRX/USD pair in the recent past, it remained in a range bound from October 11 to October 15 this year as the cryptocurrency rallied from a low of $0.020 to a high of $0.028, which is almost 40% percent return within four days. However, since then it experienced fluctuating downward slope until it reached the current level. The consolidation may take place if the price traded above $0.17. However, the next support level can be $0.017.

Dash Price Analysis – DASH/USD

DASH/USD

The thirteenth largest cryptocurrency which was on level twelfth on November 26, stands at the level of market cap $812,796,198 on November 29, 04:26 UTC. Since EMA is above the current value representing the ‘downward’ and it is dropped by 43% compared with November 06 level since both moving averages have turned down, which is a negative sign. The recently 14-day RSI slashed oversold level is now expecting the pullback moment. Since no bullish patterns that suggest a buy, hence, it is best to remain on the sidelines for the time being. With this, all those involved in trading activities should wait for the trend to rebound and a bottom to form before initiating any long positions in it. If we analyze the all-time high since mid of August, the DASH/USD pair remained in a range bound from August 22 to September 02 this year as the cryptocurrency rallied from a low of $126 to a high of $231 which is almost 83% percent return within 11 days. However, since then it experienced continuously downward fluctuating slope until it reached the current level. While the consolidation phase can be observed if and when the price traded above EMA at $100. With this, the next support level can be estimated at $100. Dash is an open source cryptocurrency and is a form of a decentralized autonomous organization run by a subset of users, called “master node.” It is an altcoin that was forked from the Bitcoin protocol. The currency permits fast transactions that can be untraceable.

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