Cryptocurrency Price Analysis: BTC, ETH, SOL, BNB, XRP, DOGE, ADA, AVAX, TON, SHIB – 11/27
Bitcoin has shown strong resilience after a recent dip to $90,791, bouncing back above $96,000. Charlie Sherry, head of finance at BTC Markets, is optimistic that this could be the last pullback before Bitcoin breaks $100,000. However, some analysts, like Ryan Lee from Bitget Research, caution that Bitcoin may correct up to 30% before reaching its peak.
In a healthy uptrend, corrections are expected to reduce speculation-driven volatility. Bitcoin’s recent drop doesn’t signal a top, but traders should watch out for potential resistance near $100,000. Will Bitcoin break this resistance, or will bears drive the price down? Let’s take a look at the top cryptocurrencies to find out.
Bitcoin dropped below the uptrend line but found support at the 20-day exponential moving average ($89,857) before bouncing back above the line. Maintaining this trend could lead BTC to $100,000, with resistance at $113,331 and $125,000. If the price turns sharply downwards, $85,000 could act as support.
Ether saw a breakout above the downtrend line, potentially heading towards $3,900 and $4,094. The $3,900 to $4,094 zone will be a key resistance level. If Ether fails to stay above the downtrend line, it may drop to the 20-day EMA at $3,191, with further support at $3,000.
Solana’s bulls held strong at the 20-day EMA ($227), setting a positive trend if the price rises above $240 and aims for $264. Breaking above this resistance could push Solana towards $300, while a drop below the 20-day EMA may indicate bearish sentiment towards $210 support.
BNB found support at the 50-day SMA ($601) after a pullback. The 20-day EMA ($620) is flattening, suggesting a balanced supply and demand. Breaking below the 50-day SMA could lead BNB to the uptrend line for support, while surpassing $635 may push the price to $722.
XRP bounced back from $1.28, potentially forming a higher low. Breaking above $1.50 and $1.63 could drive XRP towards $1.76 and $1.97. On the downside, $1.27 is a crucial support level, with a break potentially leading to a drop to the 20-day EMA at $1.10.
Dogecoin retraced to the 20-day EMA ($0.35) before showing signs of a rebound. Pushing above $0.44 may lead DOGE to $0.50 and $0.59, while a drop below the EMA could result in a deeper correction towards $0.33 and $0.30.
Cardano found support at the 61.8% Fibonacci retracement level ($0.86), with potential resistance at $1.15. Swinging between $0.86 and $1.15 is likely, with a breakout above $1.15 setting the stage for a climb towards $1.25.
Avalanche struggled to break above $45, with support at the 20-day EMA ($36.64). Maintaining above $45 could lead AVAX towards $50 and $60, while falling below the EMA may indicate a descent towards the 50-day SMA ($30.38).
Toncoin bounced off the 20-day EMA ($5.66), signaling a shift from selling rallies to buying dips. Maintaining above the EMA could push TON towards higher levels, with potential support at the EMA in case of a downturn.
Overall, the cryptocurrency market shows resilience after recent corrections, with each coin facing specific levels of resistance and support as traders assess potential breakout opportunities.
