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Cryptocurrency Market Analysis
This report provides an overview of the current market trends and analysis for various cryptocurrencies.
Bitcoin (BTC)
No specific information is provided about Bitcoin.
Ethereum (ETH)
No specific information is provided about Ethereum.
Altcoins
Cardano (ADA)
Cardano’s price has found support at $0.86, indicating buying on dips.
- The ADA/USDT pair rose above $1 on November 27.
- Resistance near the $1.15 level is expected.
- A break and close above $1.15 will initiate a new uptrend.
- A break below $0.86 increases the risk of a drop to $0.80.
Binance Coin (BNB)
No specific information is provided about Binance Coin.
Ripple (XRP)**
No specific information is provided about Ripple.
Polkadot (DOT)**
No specific information is provided about Polkadot.
Other Cryptocurrencies
Shiba Inu (SHIB)
Shiba Inu has been trading between the 20-day EMA ($0.000024) and the overhead resistance of $0.000029 for the past few days.
- The strong bounce off the 20-day EMA on November 27 suggests that the bulls continue to defend the level.
- Buyers will try to push the price toward $0.000030, a crucial resistance to watch out for.
- A break and close above $0.000030 will complete an inverted head-and-shoulders pattern.
Dogecoin (DOGE)**
Dogecoin pulled back to the 20-day EMA ($0.35) on November 26, indicating profit-booking by short-term traders.
- A strong rebound off the 20-day EMA will suggest a positive sentiment.
- The bulls will again try to push the DOGE/USDT pair above $0.44.
- If they do that, the pair could surge to $0.50 and later to $0.59.
Avalanche (AVAX)**
The bulls purchased the dip to the resistance line on November 26 but are finding it difficult to push Avalanche above $45.
- The upsloping 20-day EMA ($36.64) and the RSI in the overbought zone indicate the path of least resistance is to the upside.
- If buyers propel and maintain the price above $45, the ADA/USDT pair could rally to $50 and subsequently to $60.
Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
