BTC/USD is being traded at $5,614 and continues to attempt to correct. Correctional growth, although it was small, it may be good enough to update the minimum of the whole fall. At the moment, sellers have formed the level of their interests at around $5,650. The level from which the small correctional growth of the previous trading day had earlier begun, is slightly lower at around $5,600. As a result, we have a narrow zone of conflict of interests, the breakthrough of which we will see in the near future.
As part of the forecast for November 17, we can expect attempts to upgrade the minimum of the whole fall and test lower support levels, after which we can see a more substantial correctional growth to the levels of $5,620, $5,850, $6,000.
An alternative option is the breakdown of the level of $5,400 and the continuation of the fall with a target of $5,050.
ETH/USD is being traded at $177.79 and is in the correction. The last trading day expectedly brought a correctional movement, but the growth was very weak and the price returned to its lows again. Sellers still have not formed at least some distinct level of their interests. Therefore, if now we see a halt in the fall and a correction, then in the short term the price will most likely go to the test zone of $170.00 – $167.30 and after that, we will see corrective growth.
As part of the forecast for November 17, we can expect attempts to test the level of $170.00 and, as a result, to upgrade the minimum the entire fall. In the future, we can expect correctional growth at least to the level of $180.00
An alternative option is the breakdown of the level of $170.00 and the continuation of the fall with a target of $140.00.
XRP/USD is being traded at $0.47459 and continues the correction. As previously assumed, this coin will be the first to recover its position. During the current trading day, the bulls played back more than 60% of the total fall but failed to gain a foothold above $0.50000. The price stopped at the level of 61.8% Fibonacci retracement and went down. So far, the coin situation remains highly controversial. Before breaking through the level of $0.50000, where the upper limit of the formed downward channel also passes, or $0.44000, it is difficult to say where the price will move in the medium term. The probability of “catching up” with all the crypto market in the fall is now as likely as the opportunity for the coin to return to the level of $0.53000.
As part of the forecast for November 17, we can expect the continuation of the corrective movement between the support and resistance zones. This coin is still a favourite, in the long run, to win back the fall and be the first to return to the price area, before the fall of $0.52000 – $0.53000.
Cancellation of the development of the corrective movement will be the continuation of the fall and the renewal of minimum in the area of $0.41500 – $0.39850.
XMR/USD is being traded at $88.842 and continues the sideways corrective movement. Over the last trading day, nothing has changed, the price moves sideways along the upper borders of the support zone. At the moment, sellers have formed the level of interest for themselves at around $90.850. This level has become a local resistance and the departure of the price above it will mean the beginning of an upward correction. The price should restore its position in the near future a little bit, or continue to fall.
As part of the forecast for November 17, we can expect the continuation of the correction and growth, with the aim of the Ichimoku Kinko Hyo cloud signal lines $94.950 and higher, to the resistance zone of $96.500.
An alternative option is to continue falling in order to gain a foothold below $80.000.