The significant resurgence in Bitcoin (BTC) and specific alternative cryptocurrencies indicates that bullish sentiment continues to prevail, with investors consistently showing interest in purchasing these assets at reduced prices.
Traders generally have a solid aversion to uncertainty, so the recent resolution between Binance, Changpeng “CZ” Zhao, and the United States Department of Justice will likely foster a positive outlook for the cryptocurrency market. Most analysts have expressed optimism regarding this development, although a minority have voiced caution, citing the ongoing lawsuit by the Securities and Exchange Commission against Binance.
거래자들은 일반적으로 불확실성에 대한 확고한 혐오감을 가지고 있으므로 Binance, Changpeng “CZ” Zhao 및 미국 법무부 간의 최근 결의안은 암호화폐 시장에 대한 긍정적인 전망을 조성할 가능성이 높습니다. 대부분의 분석가들은 이러한 발전에 대해 낙관적인 입장을 표명했지만, 소수는 증권거래위원회가 바이낸스를 상대로 진행 중인 소송을 언급하며 주의를 표명했습니다.
On November 21st, Bitcoin and various major alternative cryptocurrencies experienced a substantial decline in value following the Binance-related news. However, it appears traders swiftly intervened after the initial knee-jerk reaction, taking advantage of the lower prices. Following this initial rebound, the bullish momentum is anticipated to encounter significant resistance from bearish forces.
Buying on dips and selling on rallies results in a range-bound action as both the bulls and the bears battle it for supremacy. Generally, a consolidation near the 52-week high is considered a bullish sign, but traders should wait for an upside confirmation before jumping in to buy.
Will Bitcoin and select altcoins remain stuck inside a range for the next few days? What are the critical levels to watch out for?
Let’s analyse the charts of the top 10 cryptocurrencies to find out.
Bitcoin (BTC) price analysis
비트코인(BTC) 가격 분석
The bears pulled Bitcoin below the 20-day exponential moving average ($35,948) on Nov 21st but could not sustain the lower levels. Strong buying by the bulls pushed the price back above the 20-day EMA on Nov 22nd.
The BTC/USDT pair has been consolidating between $34,800 and $38,000 for several days. This indicates a balance between supply and demand. A minor positive in favour of the bulls is that the 20-day EMA slows up, and the relative strength index (RSI) remains in the positive zone.
BTC/USDT 쌍은 며칠 동안 $34,800에서 $38,000 사이에서 통합되었습니다. 이는 수요와 공급의 균형을 나타냅니다. 강세에 유리한 작은 긍정적인 점은 20일 EMA가 둔화되고 상대강도지수(RSI)가 여전히 긍정적인 영역에 있다는 것입니다.
If bulls propel the price above $38,000, the pair could start the next leg of the uptrend to $40,000. This level may act as a formidable resistance, but the team may soar to $48,000 if cleared.
On the contrary, if the price turns down and breaks below $34,800, it will suggest that the traders are rushing to the exit. That may open the doors for a further decline to $32,400.
Ether (ETH) price analysis
이더(ETH) 가격 분석
Ether turned down from the resistance line on Nov 20th and slipped below the 20-day EMA ($1,957) on Nov 21st.
However, the bulls had other plans. They aggressively purchased the drop below the 20-day EMA and are again trying to overcome the barrier at the resistance line. This remains a pivotal level to watch because a break above it could start a rally to $2,137 and then to $2,200.
그러나 황소들은 다른 계획을 가지고 있었습니다. 20일 EMA 아래의 하락세를 공격적으로 매수했으며 다시 저항선을 극복하려고 노력하고 있습니다. 이 수준을 넘어서면 $2,137, $2,200까지 반등할 수 있기 때문에 이는 여전히 지켜봐야 할 중요한 수준입니다.
On the downside, $1,880 is a necessary support to watch out for. If this level fails, the ETH/USDT pair may start a deeper correction to the 50-day simple moving average ($1,791). That could delay the start of the next leg of the up-move.
BNB price analysis
BNB는 11월 21일에 장중 최고가 272달러, 최저가 224달러로 급등하는 모습을 목격했습니다. 이는 상승세와 하락세 사이의 다음 방향 움직임에 대한 불확실성을 나타냅니다.
A minor positive is that the bulls did not allow the price to break below the significant support at $223. That started a recovery on Nov 22nd, and the bulls are trying to push the price back above the 20-day EMA ($240). If they succeed, it will signal that the BNB/USDT pair may consolidate between $223 and $265 for some time.
Conversely, if the price fails to sustain above the 20-day EMA, it will suggest that bears are selling on rallies. That could again pull the price toward $223. A break below this support could extend the fall to $203.
반대로 가격이 20일 EMA 이상으로 유지되지 않으면 하락세가 랠리에서 매도하고 있음을 의미합니다. 그러면 가격이 다시 223달러로 끌어올릴 수 있습니다. 이 지지선이 무너지면 하락 폭은 203달러까지 연장될 수 있습니다.
XRP price analysis
XRP 가격 분석
XRP turned down from the 20-day EMA ($0.61) on Nov 20th and fell to the 50-day SMA ($0.57) on Nov 21st.
The bulls are expected to defend the support at $0.56 because a failure to do so may result in a drop toward $0.46. The slightly downsloping 20-day EMA and the RSI just below the midpoint indicate a minor advantage to the bears.
황소는 $0.56의 지지를 방어할 것으로 예상됩니다. 그렇게 하지 않으면 $0.46까지 하락할 수 있기 때문입니다. 약간 하락한 20일 EMA와 중간점 바로 아래의 RSI는 하락세에 약간의 이점이 있음을 나타냅니다.
If the price breaks above the 20-day EMA, it will suggest strong buying at lower levels. That will signal a possible range-bound action between $0.56 and $0.74 for a few days. The bulls will return to the driver’s seat after the XRP/USDT pair rises above $0.74.
Solana (SOL) price analysis
솔라나(SOL) 가격 분석
Solana climbed above the critical overhead resistance of $0.59 on Nov 19th, but the bulls could not build upon this strength. The bears pulled the price back below $0.59 on Nov 20th.
솔라나는 11월 19일에 중요한 오버헤드 저항인 $0.59를 넘어섰지만 상승세는 이 강세를 이어갈 수 없었습니다. 하락세는 11월 20일 가격을 0.59달러 아래로 되돌렸습니다.
The SOL/USDT pair snapped back from the 20-day EMA ($51) on Nov 22nd, indicating that the bulls vigorously protect the level. Buyers will again try to overcome the obstacle at $59 and challenge the local high at $68.
On the contrary, if the price again turns down from $59, it will suggest that bears remain active at higher levels. Sellers will again attempt to sink the price below the vital support at $48. If this level allows, the pair may nosedive to the 50-day SMA ($37).
반대로 가격이 59달러에서 다시 하락한다면 하락세는 더 높은 수준에서 계속 활동할 것임을 의미합니다. 판매자는 다시 $48의 필수 지지선 아래로 가격을 낮추려고 시도할 것입니다. 이 수준이 허용된다면 통화쌍은 50일 SMA($37)까지 급락할 수 있습니다.
Cardano (ADA) price analysis
Repeated failures of the bulls to maintain Cardano above the breakout level of $0.38 started a correction on Nov 21st.
The price reached the 20-day EMA ($0.35), a strong support. The sharp rebound off this level suggests robust buying by the bulls. It also increases the likelihood of a break above $0.39. If this level is scaled, the ADA/USDT pair could rise to $0.46.
Bears must quickly drag the price below the 20-day EMA if they want to prevent the rally. There is minor support at $0.34, but if it cracks, the pair may slide to the 50-day SMA ($0.30).
Dogecoin (DOGE) price analysis
도지코인(DOGE) 가격 분석
Dogecoin plunged below the 20-day EMA ($0.07) on Nov 21st, but the bears struggle to sustain the lower levels.
The bulls are trying to push the DOGE/USDT pair back above the 20-day EMA. It will suggest aggressive buying on dips if they can pull it off. The bulls will then make one more attempt to clear the overhead hurdle at $0.08 and start the march toward $0.10.
강세론자들은 DOGE/USDT 쌍을 20일 EMA 위로 되돌리려 노력하고 있습니다. 성공할 수 있다면 하락세에 공격적인 매수를 제안할 것입니다. 그런 다음 상승세는 $0.08의 머리 위 장애물을 제거하고 $0.10을 향한 행진을 시작하기 위해 한 번 더 시도할 것입니다.
Alternatively, the bears will try to sell the rallies and keep the price pinned below the 20-day EMA. That could open the doors for a potential drop to the 50-day SMA ($0.07) and eventually to the crucial support at $0.06.
또는 하락세는 랠리를 매도하고 가격을 20일 EMA 아래로 고정하려고 시도할 것입니다. 이는 50일 SMA($0.07)가 잠재적으로 하락할 수 있는 문을 열 수 있으며 결국 $0.06의 중요한 지지선에 도달할 수 있습니다.
Toncoin (TON) price analysis
Toncoin has been finding support at the 50-day SMA ($2.19), indicating that the sentiment remains positive and traders buy on dips.
Toncoin(TON) 가격 분석 Toncoin은 50일 SMA($2.19)에서 지지를 얻었으며 이는 정서가 여전히 긍정적이고 거래자들이 하락세에 매수하고 있음을 나타냅니다.
Both moving averages remain flattish, and the RSI is just above the midpoint, indicating a range-bound action in the short term. If the price is above $2.40, the TON/USDT pair may rise to $2.59.
두 이동 평균 모두 평평한 상태를 유지하고 RSI가 중간점 바로 위에 있어 단기적으로 범위 제한 조치를 나타냅니다. 가격이 $2.40 이상이면 TON/USDT 쌍은 $2.59까지 오를 수 있습니다.
Contrary to this assumption, if the price breaks below the 20-day EMA, the pair could test the support at the 50-day SMA. The pair may move downward to $2 and $1.89 if this support cracks.
Chainlink (LINK) price analysis
Chainlink turned down from the immediate resistance of $15.39 on Nov 20th and fell below the 20-day EMA ($13.63) on Nov 21st.
체인링크(LINK) 가격 분석 체인링크는 11월 20일 $15.39의 즉각적인 저항에서 하락했고, 11월 21일 20일 EMA($13.63) 아래로 떨어졌습니다.
The LINK/USDT pair rebounded above the 20-day EMA on Nov 22nd, indicating demand at lower levels. Buyers will again try to propel the price above $15.39 and retest the overhead resistance at $16.60.
Meanwhile, the bears are likely to have other plans. They will try to defend the $15.39 level and pull the price below the 61.8% Fibonacci retracement level of $12.83. The pair may plummet to the 50-day SMA ($10.94) if they do that.
한편, 곰들은 다른 계획을 가지고 있을 가능성이 높습니다. 그들은 $15.39 수준을 방어하고 가격을 61.8% 피보나치 되돌림 수준인 $12.83 아래로 끌어내리려고 노력할 것입니다. 그렇게 하면 쌍은 50일 SMA($10.94)까지 급락할 수 있습니다.
Avalanche (AVAX) price analysis
Avalanche closed above the $10.52 to $22 range on Nov 19th, but the bulls could not maintain the higher levels. The bears pulled the price back below the breakout level on Nov 20th.
Avalanche는 11월 19일에 $10.52~$22 범위 위로 마감되었지만 상승세는 더 높은 수준을 유지하지 못했습니다. 하락세는 11월 20일에 가격을 돌파 수준 아래로 되돌렸습니다.
The 20-day EMA ($17.71) slows up, and the RSI is in positive territory, indicating that the bulls have the upper hand. Buyers will again try to propel the price above $22, and if they are successful, it will suggest the start of a new up-move. The AVAX/USDT pair could then start its journey toward $30.
Contrarily, if the price turns down from $22, it will indicate that the bears vigorously protect the level. That will increase the possibility of a break below the 20-day EMA. If that happens, the pair may remain stuck inside the extensive range longer.
Source – Rakesh Upadhyay
출처 – Rakesh Upadhyay
Source: https://thebittimes.com/latest-market-overview-22nd-nov-btc-eth-bnb-xrp-sol-ada-doge-ton-link-avax-tbt71288.html
출처: https://thebittimes.com/latest-market-overview-22nd-nov-btc-eth-bnb-xrp-sol-ada-doge-ton-link-avax-tbt71288.html