Cryptocurrency prices analysis and forecast – 14 November 2018

Cryptocurrency prices analysis and forecast – 14 November 2018
Cryptocurrency prices analysis and forecast – 14 November 2018

BTC/USD

BTC/USD is being traded at $6,489 and continues to move within the correction. Against the rest of the main crypto coins, which lost about 1% at the start of the week, Bitcoin as a whole, demonstrates an enviable stability. It is expected that the constancy of the price of the coin leads to its spread as a means of payment. In the press, news of the acceptance of BTC to pay for goods and services is increasingly appearing. At the moment, the inclusion of the possibility of payment for services by cryptocurrency is often of a marketing nature. Nevertheless, the more stable the market, the higher the likelihood of the return of interest of large service providers – primarily in the digital segment.

BTC/USD Forecast and analytics 14 November 2018
BTC/USD Forecast and analytics 14 November 2018

As part of the forecast for November 14, we can expect price attempts to go beyond the narrow accumulation and test the resistance zone. At the moment, there has been an update of recent highs at $6,481 – $6,470, and before going higher, the price can once again roll back to the area of the signal lines of the Ichimoku Kinko Hyo cloud at $6,449.

Alternatively, drop to the support area and update of recent lows in the $6,397 – $6,360 area.

ETH/USD

ETH/USD is being traded at $212.80 and continues to move within the correction. The price movement has cooled after a recent bull rally, which is not too surprising, given the initial rapid growth. However, it seems that the price is preparing for the next breakthrough.

ETH/USD Forecast and analytics 14 November 2018
ETH/USD Forecast and analytics 14 November 2018

As part of the forecast for November 14, we can expect the continuation of the corrective movement within the limits of $218.00 – $206.00. How long the current accumulation phase will last is unknown and it remains only to wait for the moment of breaking through the boundaries of consolidation. On the H4 chart, given the current state of consolidation, a bull pennant formed as a result of the corrective price movement from the high of November 7. The nearest resistance levels are between $214.00 – $215.00. There is also the upper limit of the pennant. If the price rises above these levels, there will probably be a retest of the high of November 7.

Cancellation of the breaking through the upper boundary of consolidation will be the fall and the breakdown of its lower boundary. In the case of the breakdown of the level of $206.00, we should expect the price to go down to $199.20.

XRP/USD

XRP/USD is being traded at $0.52812 and continues to trade within the correction. The coin continues to gain strength and buyers are likely to make another effort in the near future to push the price higher into the area of the high of November 6.

XRP/USD Forecast and analytics 14 November 2018
XRP/USD Forecast and analytics 14 November 2018

As part of the forecast for November 14, we can expect next attempts to update the nearest highs in the $0.54640 – $0.54000 area. It is likely that growth will follow after the end of the current accumulation, so the next small price reduction to the area of the signal lines of the Ichimoku Kinko Hyo cloud of $0.52000 may happen 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

XMR/USD is being traded at $105.970 and continues to be traded in a broad flat accumulation of $119.000 – $100.000. The price continues to be in a fairly wide range of support areas of $104.000 – $100.000. In this area, there is a solid customer base, which bulls accumulate since August 27. After its formation, even in the case when the market fell to the lower levels of support, the bulls always managed to win back this zone. Therefore, at current levels, customers have an advantage in momentum while they are holding this zone.

XMR/USD Forecast and analytics 14 November 2018
XMR/USD Forecast and analytics 14 November 2018

As part of the forecast for November 14, we can expect a slight decrease, before the price is likely to continue upward, in order to test the resistance zone and, in the future, go to $111.500. The current accumulation can give buyers a chance to accumulate positions on favourable terms for them, which will allow in the future to divert the price up to $115.500.

An alternative scenario is the breakdown of the boundaries of the support zone and the fall to the level of $100.000.