ETH led the way for the past 7 days, pulling back the bulk of the altcoin market after sustaining the $ 4,000 support. ETH broke key resistance at $ 4,350 and is just $ 80 below the all-time high of $ 4,868.
Due to the high volatility, the price only increased 1% in 7 days. However, ETH outperformed Bitcoin and attracted a lot of attention.
The biggest challenge for ETH now is to 1) stay above the support flipped by the resistance at $ 4,350 and 2) try to break above the all-time high of $ 4,868. If successful, this could lead the market to a clear upward trend. December will definitely be exciting for the participants.
Source: TradingView
After falling below $ 600, the BNB sought a quick rebound above this key level. Even so, not only did the price not reach a higher high, it also fell 2.3% in the past 7 days.
As long as the BNB holds above the USD 600 support, the price has a good chance of exploring higher highs and even breaking the all-time high of USD 692. The BNB indicators are currently not overly optimistic. For example, the daily MACD failed to make a bullish cross yesterday. In this case, the chances that the NBB will trade higher increases significantly.
Until then, the NBB can continue to consolidate over USD 600. All eyes are still on market leaders like ETH and BTC for next week’s tone.
Source: TradingView
Volatility returned to ADA yesterday as the price rose 10% in less than 4 hours. This is a welcome change after poor performance in the past few weeks. On November 16, the price broke below the critical support at $ 1.90 and that level became critical resistance. Overall, the price of ADA has fallen slightly by -1.9% in the last 7 days.
To reverse the downtrend, ADA must break the resistance at $ 1.7 and $ 1.9, with $ 1.90 being the real test of this new volatility and momentum. A failure there could cause the price to stay below $ 1.90 for a while.
Looking ahead, there are some positive signs for ADA holders. The daily MACD has formed a bullish cross thanks to yesterday’s rally. If the bulls can maintain this upward momentum, ADA will eventually revert to the uptrend. At the same time, a high volume is a sign of strength.
Source: TradingView
SOL had a great week, gaining 13% after successfully testing the USD 190 support. At the time of writing, the price is just below the critical resistance at $ 236. This level is unlikely to hold SOL for long as bullish momentum builds.
The MACD daily time frame has completed a bullish cross and this is a major bullish signal that SOL is on the verge of a sustained rally. We will have the first confirmation when the price breaks the critical resistance of $ 236. Volume has also increased over the past week, showing that the bulls have the upper hand. It is important to see if the bears show up at this resistance because if they don’t the bulls will keep moving forward.
SOL’s all-time high is at $ 259.96, not far from current prices. If the bears fail to squeeze in at $ 234, ATH will be the last line of defense before SOL begins exploring price.
Source: TradingView
The best performing coin this week is LUNA with a plus of 59%. This is evidence of the fundamental factors driving the boom, with stablecoin UST reaching a market cap of $ 7.8 billion at press time. On November 1, its market cap was just $ 2.8 billion. The intent is to burn more LUNA tokens to increase the supply of UST in the market. This creates demand for LUNA and reduces the circulating supply, which creates significant buying pressure.
LUNA hit a new ATH today at $ 69.66, the highest price in history. This level is likely to be a resistance as the RSI shows bearish divergence on lower time frames such as 4 hours. A short-term pullback won’t surprise the bulls to rest before the next run. On the larger time frames, LUNA’s indicators remain extremely bullish. However, in extreme times, it is always best to be careful.
At the very front, LUNA has great support with $ 55. If a correction occurs in the future, the bulls should be firm in defending these levels.
Source: TradingView
You can see the price of the coin Here.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…
The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…
UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…
a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…
Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…
This website uses cookies.