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Cryptocurrency prices analysis and forecast – 24 November 2018

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BTC/USD

BTC/USD is being trading at $4,354 and continues to show a sideways correction. Over the last trading day, we saw a slight decrease and the update of the minimum of the whole fall. From this, we can conclude that the fall is slowing down and, probably, soon we will see an upward correction. However, the volume is still not in a hurry to grow, so the continuation of the current sluggish consolidation is likely to be observed throughout the weekend.

BTC/USD Forecast and analytics 24 November 2018
BTC/USD Forecast and analytics 24 November 2018

As part of the forecast for November 24, we can expect the continuation of the current correction. It may be noted that before updating the minimum fall, the price went into the zone of the value justified for continued sales, which, by that time, had dropped slightly to the level of $4,620. Now, this area is located between the levels of $4,600 – $4,460 and serves as a resistance, and marks on which you can wait for either the fall to continue, or, at the turn of the trend, their breakdown. As before, the goal in the event of a continuation of the fall remains the $4,000 mark.

An alternative option is a stopping of the current downward movement and the starting of a corrective recovery, with a target of $5,000.

ETH/USD

ETH/USD is being trading at $123.06 and shows a moderate decline. This coin completely copies the movements of the previous one, except for the fact that here the price did not even try to touch its zone justified for continuing the decline in value. The price simply falls by inertia after Bitcoin. Therefore, expecting any alternative behaviour in the short term is meaningless. But It is worth noting that there is an increase in volumes and positions for the purchase, therefore, perhaps, Ethereum is the first to signal that a long-awaited upward correction will take place soon.

ETH/USD Forecast and analytics 24 November 2018
ETH/USD Forecast and analytics 24 November 2018

As part of the forecast for November 24, we can expect the continuation of a close correlation with the Bitcoin movement, and therefore there is a high probability that the current accumulation will continue during the weekend, for further movement in one direction or another. The zone of the justified value of the asset is located at $134.80 – $128.90. This area plays a signalling role. In case of its breakdown, you can count on the development of an upward correctional wave, with a target of $155.00. If the fall continues, it will play the role of resistance, from which prices can push off to go down to the levels of $110.50, $100.00, $89.00.

XRP/USD

XRP/USD is being trading at $0.40650 and is in a downward trend. As it was supposed earlier, the coin made its next movement together with the market and updated the minimum of its fall. Since at the moment there is a reason to assume that the market is preparing for an upward correction. If these expectations are met, the growth of this coin looks more promising than the rest. Ripple’s fall was the least significant, and he had previously demonstrated his potential for growth, even in spite of general sentiment. Therefore, there is hope that the coin will be able to be the first to recover most of the previously lost positions if the market will support it.

XRP/USD Forecast and analytics 24 November 2018
XRP/USD Forecast and analytics 24 November 2018

As part of the forecast for November 24, we can expect the continuation of the current consolidation and further correlation with the market. It is also worth noting that the array of limit orders for sale has not gone anywhere and is still is located at $0.46070 – $0.45850 zone. This suggests that market participants at the moment continue to expect a rise in prices, which once again speaks in favour of the market’s readiness for corrective growth. The signal area will be the zone $0.43760 – $0.42590. From these levels, the price, pushing off, will continue to fall to the level of $0.38500, or if it breaks through it goes up to $0.46200.

XMR/USD

XMR/USD is being trading at $66.686 and is the first to demonstrate attempts at corrective growth. This coin was previously distinguished by leading movements of the whole upcoming market trend. Therefore, it is possible that correctional growth will begin earlier than we expected before. We might see it on the upcoming weekends. Also, the market itself will have to confirm this, the movement of which, as before, will remain decisive.

XMR/USD Forecast and analytics 24 November 2018
XMR/USD Forecast and analytics 24 November 2018

As part of the forecast for November 24, we can expect the continuation of the current consolidation and further correlation with market sentiment. The signal zone is located at the levels of $69.700 – $67.500. On the basis of price behaviour in this area, it will be possible to make assumptions about the further development of the movement. In the case of a rebound from it, the probability of going down to the level of $58.500 is high. And in the case of the development of correctional growth, the goal will be the mark of $78.000. It is also worth paying attention to the local resistance level of $72.800. Its price may not be overcome in the first attempt, and the growth during the weekend may stop here.

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