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BTC, ETH, and XRP Price Analysis for November 30

Have Bitcoin (BTC), Ethereum (ETH), and XRP reached their local resistance levels?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The new week has started on the back of the ongoing bullish momentum, with all the top 10 cryptocurrencies being in the green zone.

Top 10 coins by CoinMarketCa
Top 10 coins by CoinMarketCap

The main data for Bitcoin (BTC), Ethereum (ETH), and XRP:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$344,786,605,625 $18,908.26 $35,883,764,546 5.19%

Ethereum

ETH

$66,885,864,251 $593.86 $19,435,936,879 8.10%

XRP

XRP

$28,269,628,666 $0.618271 $14,959,970,038 1.21%

BTC/USD 

Trading volumes were below average on Saturday, but buyers managed to find support at $17,000 and bounced back above the hourly EMA55.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Before the end of the day, the pair had consolidated in the support area of ​ $17,600, and the recovery had continued until the bulls tested the $18,200 level. Until the end of last week, trading activity hadn't decreased, and the price had consolidated in a narrow sideways range with support at $18,000.

👉 MUST READ Bitcoin (BTC) Price Analysis for November 29related article image

Judging by the Stoch RSI indicator on the weekly timeframe, the bulls will not be able to remain in the overbought zone for a long time, and even such еру 78.6% Fibonacci retracement level will not be able to stop the bears' onslaught. In this case, support should be sought in the area of ​​the daily EMA55, which is the ​​$15,200 level. 

Bitcoin is trading at $19,207 at press time.

ETH/USD 

Last weekend, the bearish pressure on the market was barely palpable. With medium-size volumes, the buyers managed to break above the resistance of $550 and tested the level of $580 at the beginning of this week. 

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Today, this weak support level could prop up the continued recovery towards the $600 area. With support from large buyers, the bulls could update their yearly high in the $640 area this week. If the bears get in the driver's seat, they may not allow a breakout into the zone of the annual high and renewed selling pressure will push the price into the area of ​​$440.

Ethereum is trading at $601.98 at press time.

XRP/USD 

Last Saturday, the XRP price consolidated around the hourly EMA55. In the afternoon, there was a small spike in volume, which led to a break above the $0.60 mark.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

If the bulls intensify the onslaught, then the growth may continue to the area of the $0.70 mark. If the bearish momentum picks up steam, then it will be enough to break the support and make the pair return to the psychological level of $0.50.

XRP is trading at $0.6399 at press time.

 

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com