BTC/USD is being traded at $3,921 and continues to correct as part of a bearish trend. Over the last trading day, the price could not consolidate above $4,000. As previously assumed, the struggle for this mark caused a rebound. This movement, as we see, turned out to be quite good, however, there is no reason to talk about the reversal of the current dynamics. In the current situation, when the market regularly updates annual minimums, an attempt to determine the bottom is associated with a high degree of inaccuracy. Such attempts will relate more to the field of predictions than to trade and price forecasting. Also, do not forget that the Christmas and New Year holidays are ahead, and for this period the market is likely to go deep.
As part of the forecast for November 27, we can expect the continuation of the current correction and a bearish trend. The zone of the justified value of the coin is located at $4,150 – $4,040. This area plays a signalling role. If during the current corrective consolidation the price again reaches these levels, it will be necessary to monitor its behaviour. In the case of a rebound or the formation of bearish signal patterns, we can expect a further fall, to levels of $3,600 and $3,000. And in the event of further development of corrective growth and the breakdown of this area, the goal will be the mark of $4,740.
ETH/USD is being traded at $110.74 and continues to correct. From a technical point of view, the dynamics of this coin is more understandable than the previous one. The price moves in a descending channel, and on the last wave of sales once again tested the lower limit. Now quotes are back in its middle. It is no use to talk about a change in the trend until the price confidently consolidates above the upper boundary of the channel. The probability of further decline remains a priority. In the case of another wave of decline, it is necessary to monitor how the price will behave at the point of Saturday’s lows. The growth of volumes also continues to be noted. However, the asset transfusion from the hands of sellers, into the hands of buyers at extremely high volumes, characteristic of the end of long-term declining trends, has not yet occurred. And, therefore, this risk also remains.
As part of the forecast for November 27, we can expect the continuation of the current consolidation with the advantage of a further fall. The zone of the justified value of the asset is located at $119.60 – $115.80. This area will play a signalling role. If during the current corrective consolidation the price reaches these levels again, it will be necessary to monitor its behaviour. In the event of a rebound from it or the formation of bearish signal patterns, we can expect a further fall, to the levels of $100.00, $89.00, $83.70. And in the case of continued development of correctional growth and breakdown of this area, the target will be the area near the $130.00 mark. There also passes the upper limit of the channel, fixing above which can mean a long suspension of the bearish trend.
XRP/USD is being traded at $0.36746 and, like the previous two, is trading in a correction. The dynamics of this coin confirms that it is useless to argue with the market. The overall dynamics of the market is not on the side of buyers. Nevertheless, the overall decline of this coin is the smallest compared to the rest. Therefore, there are hopes that the coin will be able to reveal its full potential and show good growth when the overall situation improves. The level of $0.38000 continues to be important, despite its breakdown. If in the near future quotes will be able to break through and gain a foothold above it, it will be possible to speak of a more or less prolonged cessation of the fall.
As part of the forecast for November 27, we can expect the continuation of the current corrective consolidation. The signal area will be the zone $0.38810 – $0.37640. If during the continuation of the current corrective consolidation, the price reaches these levels again, it will be necessary to monitor its behaviour in this area. In the case of a rebound or the formation of bearish signal patterns, we can wait for a further fall, with a target of $0.31000. And in the case of continued development of correctional growth and as a result of its breakdown, the target will be the mark of $0.43000.
XMR/USD is been traded at $56.197 and is trading in a correction. This coin does not stand out against the background of the entire market. There is neither news nor any remarkable movements of the price itself. You can only note that as a result of the Bitcoin SV pump, the coin left the top ten of the leading cryptocurrencies and is now in 11th place.
As part of the forecast for November 27, we can expect the continuation of the correction. The signal zone is located at the levels of $61.200 – $58.900. In the event that the price re-reaches this area, it will be possible to make further assumptions about the development of the movement. In the event of a rebound or the formation of bearish signal patterns, you can wait for a further fall, with a target of $46.000. And in the case of the development of a more substantial correctional growth, the first goal will be the mark of $68.000.