BTC/USD is being traded at $6,456 and continues to move within the correction. Since the minimum that we saw on the weekend did not finish the support line, then we can expect another breakthrough in an attempt to test the local bottom or at least update the recent low. This probability is indicated by technical indicators. After the bounce from the support area, which also should not keep us waiting, we can count on rising prices within the previously designated corridor. In the medium term, it is not necessary to expect any trends from coin №1. There will be a flat and only a flat, even within such a wide range as $7,000 – $6,000. The key here is the acceptance of the fact – the price of the most popular cryptocurrency is simply inside stagnation. After that, the current price cycle will become obvious and readable. From this, anyone can extract practical and useful information without unnecessary predictions.
As part of the forecast for November 13, we can expect a continuation of the corrective price reduction. After a slight increase to the border of the resistance area and possibly, the recent highs at $6,481 – $6,470 are updated, the retest of $6,363 is likely to follow. The decrease in the area of support is possible. The goal could be the level of $6,300, where a rather strong support is located, in the case of a breakdown of which a decline to $6,220 is likely.
An alternative option – in case of consolidation above $6,500, an increase to $6,620 is probable, then – to $6,730.
ETH/USD is being traded at $212.41 and continues to move within the correction. The news background still supports the coin, as a result of which it is in no hurry to retest the support area. So on Friday, the developers of Ethereum announced the date of the second stage of Metropolis hardforks, which is called Constantinople. The update, previously scheduled for October, was already postponed to the next month, but now the developers have announced a new hardfork date – January 16th. Constantinople should noticeably increase the speed of the Ethereum blockchain, however, when testing the update, unexpected problems emerged that required additional code modifications.
As part of the forecast for November 13, we can expect further corrective movement within the framework of the flat $218.00 – $206.00. Probably for some time the price will be within these limits, for the accumulation of positions by market participants. Since the price is currently in the middle of the range and still has not reached its upper borders, we will probably see an increase to the resistance zone, and even an update of the highs in the $215.50 – $214.50 range. After that, a bounce and another decrease to the lower boundaries of accumulation will follow.
Cancellation of the movement within the range will be its breakdown in one direction or another. In the case of growth, the goal will be the level of $223.00. In case of leaving the price down – $199.20.
XRP/USD is being traded at $0.52802 and continues to be traded within the correction. The coin continues to show bullish sentiment. At the moment, the bulls have every chance to hold their positions. This is evidenced by technical analysis, which is now completely on the side of buyers. So 200 MA shifted below the daily candle. This is a huge step forward. Moving Average act as support or resistance depending on whether they are below or above the price. And since the MA is located under it, it means that it acts as a support, giving the coin the likelihood of a very good impulse. In addition, the level of $0.50000, where the price was at the weekend, is a key psychological level. If the market is above it, it becomes a demand zone. Few people sell at these levels, because market participants know that this is a shopping zone. And if no one sells, it means that positions are scarce, therefore, volumes are low and resistance can be overcome quite easily.
As part of the forecast for November 13, we can expect attempts to update the highs in the $0.54640 – $0.54000 area. There is a probability of a rollback of the price to the upper boundary of the Ichimoku Kinko Hyo cloud at $0.51850 before the price goes to test the resistance zone.
An alternative scenario is a fall below $0.49500, which will further lead to a fall to the support level of $0.46200.
XMR/USD is being traded at $107.140 and continues to be traded in broad flat accumulation. As previously assumed, the support zone has worked itself once again and the price has been thrown up. Now the market is slightly corrected after growth, after which, further growth is likely to follow to the upper border of wide flat accumulation, in which the price has been located since September.
As part of the forecast for November 13, we can expect the upward movement to continue, with a target at the level of $111.500. The current small correction may still continue for some time, after which, a small zone of resistance will probably break down and further rise to the nearest levels of the upper limit of the broad accumulation of $119.000 – $100.000.
An alternative scenario is the breakdown of the boundaries of the support zone and the fall to the level of $100.000.