Price analysis 11/17: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, SHIB, AVAX

Bitcoin (BTC) and Ether (ETH) are testing psychologically important support levels at $lx,000 and $iv,000 respectively. Both these levels are disquisitional to keeping the uptrend intact in the short term.

While the fall may scare off leveraged traders, Bitcoin whales seem to be viewing this dip as a buying opportunity. On-chain data shows that the tertiary-largest Bitcoin whale added 207 Bitcoin to the holdings at an average toll of most $62,053 per Bitcoin.

After the latest purchase, the whale'southward holding has increased by 635 Bitcoin in November, according to journalist Colin Wu.

*Daily cryptocurrency market operation. Source:* *Coin360*

However, information technology is not all bullish news for Bitcoin and cryptocurrencies. The U.S. dollar has risen to a 16-calendar month high on expectations that soaring inflation may strength the United states of america Federal Reserve to enhance rates and accelerate the tapering of its $120 billion a month asset purchase program.

LMAX Grouping currency strategist Joel Kruger also said that a strengthening dollar may striking risky assets the hardest and that could be the reason for the recent pullback in Bitcoin and altcoins.

Will bulls defend the stiff support levels and phase a recovery or will aggressive selling pull crypto prices beneath their potent support levels? Let's study the charts of the top x cryptocurrencies to find out.

BTC/USDT

Bitcoin plummeted beneath the 20-day exponential moving average (EMA) ($62,607) and the support line of the rising wedge pattern on Nov. xvi. This is the kickoff sign that bulls may exist losing their grip.

The buyers are attempting to defend the l-mean solar day unproblematic moving boilerplate (SMA) ($59,122) but the shallow bounce indicates a lack of urgency amidst the bulls to buy at current levels.

If the price turns downwards from the current level or the 20-solar day EMA, the bears will try to sink the BTC/USDT pair below $57,820. If they succeed, the selling could option up momentum and the pair may collapse to $52,500.

Reverse to this assumption, if the price turns up from the electric current level and rises above the 20-day EMA, it will point strong accumulation at lower levels. The pair could then retest the overhead zone at $67,000 to $69,000.

ETH/USDT

Ether broke below the ascending channel on Nov. 15 and that was followed by further selling on Nov. 16, which pulled the price below the 20-day EMA ($4,439). This was the start shut below the twenty-day EMA since October. 1.

The long tail on November. 17'due south candlestick suggests that bulls are attempting to defend the l-twenty-four hours SMA ($4,033). The 20-day EMA has started to turn down and the relative strength index (RSI) has dropped in the negative zone, indicating that bears are making a comeback.

If the price turns down from the electric current level or the 20-day EMA, it will propose that sentiment has turned negative and traders are selling on rallies. The ETH/USDT pair could so breach the 50-day SMA and plummet to the side by side support at $iii,600.

This surly view will exist negated if the pair rises from the current level and breaks above the twenty-solar day EMA.

BNB/USDT

Binance Coin (BNB) turned down from the overhead resistance at $669.xxx on Nov. 15 and plunged below the twenty-day EMA ($591) on Nov. 16. The selling continued on Nov. 17 and the bears pulled the toll near the fifty% Fibonacci retracement level at $552.xxx.

The long tail on Nov. 17'south candlestick suggests strong ownership at lower levels. The buyers will now try to push the toll back above the 20-24-hour interval EMA. If they manage to do that, the BNB/USDT pair volition again attempt to rise to $669.thirty.

Alternatively, if the cost turns downwardly from the 20-day EMA, it will advise that the sentiment has turned negative and traders are selling on rallies. The pair could then extend its decline to the fifty-day SMA ($509).

SOL/USDT

Solana (SOL) plunged below the ascending channel and the 20-day EMA ($224) on Nov. xvi, indicating that the bulls may be losing their grip. The buyers are attempting to defend the breakout level at $216 but whatever bounce is likely to face selling at higher levels.

The twenty-24-hour interval EMA has flattened out and the RSI has dropped to the midpoint, indicating a balance between supply and demand. This equilibrium will shift in favor of the bears if the cost breaks and sustains beneath $216.

On the reverse, if the price rebounds off the current level, the SOL/USDT pair could rise to the downtrend line. This level may act equally a stiff resistance but if bulls clear this hurdle, the pair may retest the all-time high at $259.ninety.

ADA/USDT

Cardano (ADA) turned down sharply on November. 16 and broke below the critical back up at $1.87 but a minor positive is that bulls did not allow the price to shut below information technology. The long tail on the candlestick indicates that buyers are attempting to defend the support.

The bulls are attempting to push button the price back above $1.87 on Nov. 17 only higher levels may attract selling. Both moving averages have started to refuse and the RSI has dipped into the negative zone, indicating that bears are in command.

If the cost turns down from the electric current level or the 20-day EMA, the bears will try to sink the ADA/USDT pair beneath $1.75. If they manage to practise that, the pair could drop to $ane.fifty. The first sign of force will be a break and close above the downtrend line.

XRP/USDT

The long wick on Ripple's, or XRP's, Nov. 15 candlestick shows that bears sold on rallies to the overhead resistance at $1.24. The selling accelerated on Nov. 16 and bears pulled the price back below the moving averages.

If bears sustain the price beneath the moving averages, the XRP/USDT pair could claiming the strong support at $1. The 20-day EMA ($1.15) has started to turn down and the RSI has dipped into the negative territory, indicating that bears accept a slight edge.

A break and close below $1 could pull the price to $0.85. This level may again deed equally a stiff support simply if it cracks, the next stop could be $0.lxx.

Conversely, if the price breaks above the moving averages, the pair could ascension to $1.24. The bulls will accept to push button and sustain the price above this level to bespeak a comeback.

DOT/USDT

Polkadot's (DOT) failure to climb back above the 20-day EMA($45.99) may have prompted profit-booking from brusque-term bulls and selling by the aggressive bears. This intensified the selling and pulled the toll beneath the 50-day SMA ($41.88) on November. xvi.

The DOT/USDT pair is attempting to rebound off the uptrend line, indicating that bulls continue to buy on dips. If bulls sustain the price higher up the 50-twenty-four hours SMA, the pair could ascent to the 20-solar day EMA.

This level is probable to again human action every bit a barrier. If the price turns downwards from the 20-solar day EMA, the bears volition brand one more endeavour to pull the pair below the uptrend line and extend the pass up to $32 and later to $26.

The bulls will have to push button and sustain the cost in a higher place the 20-mean solar day EMA to signal that the bears may exist losing their grip.

Related: Metaverse gaming tokens Ethverse and Axie Infinity avoid crypto downtrend

DOGE/USDT

After trading betwixt the moving averages for the past few days, Dogecoin (DOGE) fabricated a decisive motility lower on November. 16. This indicates that supply exceeds demand.

The bulls are attempting to defend the support at $0.22. They will at present try to push the cost above the downtrend line. If they can pull it off, it will indicate that the bears may exist losing their grip. The DOGE/USDT pair could then rise to $0.xxx.

However, the 20-day EMA ($0.25) has started to turn down and the RSI is in the negative territory, indicating that bears have the upper manus. If the price turns down from the current level or the downtrend line, the likelihood of a interruption below $0.22 increases. The pair may then drib to the disquisitional support at $0.19.

SHIB/USDT

The bulls tried to sustain SHIBA INU (SHIB) higher up the 20-twenty-four hour period EMA ($0.000052) on Nov. 14 and 15 but the long wick on the candlestick shows selling at higher levels.

The selling continued on Nov. 16, pulling the price beneath the 20-twenty-four hour period EMA. A minor positive is that bulls are attempting to defend the critical support at $0.000043. If buyers push and sustain the price above the 20-mean solar day EMA, the SHIB/USDT pair could try to rise to the resistance at $0.000065.

Conversely, if the toll turns down from the current level or the xx-day EMA, it will signal that traders are selling on every small-scale rise. That will increase the possibility of a break beneath $0.000043 and the 50-day SMA ($0.000040). If that happens, the pair may consummate a 100% retracement and drop to $0.000027.

AVAX/USDT

Barrage (AVAX) is in an uptrend. The bears tried to stall the upward-motion and sink the price beneath the key support level at $81 on November. xvi only the bulls did not relent. The long tail on the day's candlestick shows that buyers defended the 20-day EMA ($85.20) with vigor.

Buying resumed on Nov. 17 and the bulls accept pushed the cost above the overhead resistance at $101.82. If buyers sustain the price above the psychologically critical level at $100, the AVAX/USDT pair could rise to $115.14.

The upsloping 20-day EMA and the RSI in the overbought territory indicate that bulls are in command. The bears will have to pull the cost back below the breakout level at $81 to bespeak a possible change in the short-term tendency.

The views and opinions expressed here are solely those of the author and do non necessarily reflect the views of Cointelegraph. Every investment and trading movement involves chance. You should behave your own research when making a determination.

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