Cryptocurrency prices analysis and forecast – 22 November 2018

Cryptocurrency prices analysis and forecast – 22 November 2018
Cryptocurrency prices analysis and forecast – 22 November 2018

BTC/USD

BTC/USD is being traded at $4,558 and is in correction. As expected, the price went to the correctional stage. Attempts to grow are not yet observed, but the zone of the value justified for continued sales is at $4,750 – $4,950. Therefore, as long as this area does not fall below, or the prices do not adjust themselves to its marks, the flat movement will continue.

BTC/USD Forecast and analytics 22 November 2018
BTC/USD Forecast and analytics 22 November 2018

As part of the forecast for November 22, we can expect the continuation of the correction. If the market continues to fall, the correction to the region of the last trading day maximum of $4,747 – $4,787 will be enough to continue the bearish trend. How long the current phase of the lateral movement will last is not quite clear. Volumes for the last day have fallen dramatically, so there is a chance that the consolidation will continue until the end of this week.

Alternatively, the lows will be updated and the price will continue to fall with a target of $4,000.

ETH/USD

ETH/USD is being traded at $135.49 and is in correction, by analogy with Bitcoin. The dynamics of this coin closely resembles the dynamics of the previous one. The technical picture is similar, with the only difference that the coin has lost more in the percentage of 20%, against 17% in Bitcoin. The last time we saw such prices in May last year. It should be noted that in this pair the decline is not on such high volumes as in other instruments. In this case, when prices have long since broken all possible support, it is necessary to closely monitor the volumes. If they start to increase, it will be a signal that the bottom may already be somewhere nearby. However, for the time being, as we see, the minimums are still being updated, and therefore the probability of a new wave of sales remains high.

ETH/USD Forecast and analytics 22 November 2018
ETH/USD Forecast and analytics 22 November 2018

As part of the forecast for November 22, we can expect a continuation of the correction to the zone of the justified value of the asset, which has slightly decreased since yesterday and is now at $150.00 – $143.00. With these marks, the asset will be beneficial to start selling again. It is also worth noting that yesterday’s mass of limit orders was eliminated, which suggests that market participants no longer expect high levels of correction and the fall will continue from lower prices.

An alternative option – the completion of corrective lateral movement and the continuation of a fall will aim to fall to the level of $110.50.

XRP/USD

XRP/USD is being traded at $0.44414 and continues to trade in a flat, consolidating at the upper limits of its lower range. This coin was stronger all the time than the rapid fall of the crypto market. The reason was both the unparalleled powerful infrastructure that underlies the cryptocurrency and the switch of participants from other coins to this asset. If such a dynamic continues in the future, then Ripple has every chance of reaching the first place in terms of capitalization by the end of this week, overtaking Bitcoin. But given that the price chart began to correlate strongly with the movement of the entire market, there are significant concerns that the coin almost dried up its strength to continue to resist the general bearish pressure.

XRP/USD Forecast and analytics 22 November 2018
XRP/USD Forecast and analytics 22 November 2018

As part of the forecast for November 22, we can expect further consolidation in the area of the flat’s lower boundary and in close proximity to the level of interest interests of $0.43950. Over the last trading day, an array of limit orders for sale appeared in the area of $0.45850 – $0.46070. Since the price of this coin has still not fallen, the potential for bears is huge here. The immediate goal in the event of a fall will be the level of $0.38500.

XMR/USD

XMR/USD is being traded at $69.005 and, like all previous coins, is in a rather narrow correctional accumulation. It’s all similar to the dynamics of the coin number 1. Attempts to go to higher levels for the correction has not yet been made and the local resistance was the mark of $71.800, where the level of sellers’ interest was located the day before. At the moment, the zone of the value justified for continuing sales is at $75.000 – $72.000. The price will have time to adjust to this area, while the market stops falling.

XMR/USD Forecast and analytics 22 November 2018
XMR/USD Forecast and analytics 22 November 2018

As part of the forecast for November 22, we can expect the continuation of consolidation. Probably the main movement will occur in the range of $71.800 – $67.900. But do not forget about possible attempts to get into the area of $65.000 minimums – $64.500, for testing. Breakdown of this area will mean the end of the correctional accumulation and the continuation of the downward movement. Most likely this will happen following the whole market.