BTC/USD is being traded at $5,651 and continues to be in the correction. Last weekend brought nothing new. All this time the coin has been consolidating in a narrow lateral range. The bulk of the total volume is concentrated in the lower part of the current accumulation, between $5,640 and $5,560. This suggests that the price in the nearest future may win back at least some part of the recent fall.
As part of the forecast for November 19, we can expect further attempts to correct upwards. It is possible that quotes can first refresh the minimum of the whole fall and test lower support levels, forming a false breakdown, after which we can see a more significant corrective growth to the levels of $5,620, $5,850, $6,000.
Alternatively, the continuation of the fall and 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 in a correction at $177.08. Over the past weekend, this coin has demonstrated attempts to test the level of $170.00 and update the minimum of the whole fall. Unfortunately, unsuccessfully. If this had happened, it would be possible to expect a corrective growth now, and the situation is still uncertain and the price continues to sluggishly move along the upper levels of the support zone. At the moment, the level of sellers’ interest is formed at $179.85, and the level of purchases at $174.90. This range is extremely narrow, so in the nearest future, we will see either corrective growth or the continuation of the fall.
As part of the forecast for November 19, we can expect attempts of the corrective growth. There is a chance to test the $170.00 – $167.30 zone and, as a result, to update the minimum of the whole fall. In the future, we can expect correctional growth at least to the level of $188.00
An alternative option is the continuation of the fall and the breakdown of the level of $170.00, with a target of $140.00.
XRP/USD is being traded at $0.51700 and is in a correction, but not after the fall, like everyone else, but after growth. This coin returned to the level of prices at which it was trading before the fall, therefore, winning it back completely. As previously assumed, the fall here was caused solely by the inertia from the fall of Bitcoin. An additional confirmation of this was the absence of at least some level of sales. For all the time of falling and correction, sellers have not formed any zones of their interest. Ripple is the first and, so far the only, coin that has fully regained its position after that. Having demonstrated such growth, Ripple shifted Ethereum and took the second place in terms of capitalization after Bitcoin. We wrote about the prospects of this coin in the article “Ripple: the leader returns” back in September. The expectations described in the article have not yet been fully realized, but the coin does not cease to prove its promise time after time and giving more and more confidence that all expectations will be justified.
As part of the forecast for November 19, we can expect a downward correction. This is due to the fact that growth in the current conditions of a falling crypto market is not an easy task. An attempt to reach the level of $0.53000 led to the formation of Pin Bar, so it is likely that for some time the price will play this candle formation. Correction can be expected at the level of buyers’ interest of $0.50000, which was formed over the weekend. After that, we will see further growth and update of the highs in the $0.53000 – $0.54000 area.
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. This option can be expected if Bitcoin resumes its fall and goes to $5,000 or lower. In this case, as usual, it will drag the whole market with it.
XMR/USD is being traded at $90.786 and continues the corrective movement. This coin corrected well over the past weekend, but it still has the potential to continue the upward correctional movement. At the moment, the price has met resistance at around $92.230. This is above the sellers’ interest levels of $90.800 and $88.800, which they formed during the fall last week. Therefore, the current marks are very attractive to bears.
As part of the forecast for November 19, we can expect attempts to continue the upward correction to the 50% Fibonacci level at $94.000. If the bears continue to put pressure, the price can go down first to support $87.000 and after that, we will see another wave of corrective growth, which from the support area can go above 50% of the Fibonacci correction, in the area of resistance $97.000 – $96.500.
An alternative option that we can see when Bitcoin drops further is to break the support zone and move the price down to consolidate below $80.000.