BTC/USD is being traded at $4,340 and continues to trade as part of an upward correction. November futures contracts, that allow market participants to get profit from the depreciation of the coin, expire this Friday afternoon. In anticipation of this event, an upward correction has been developing on the market for the second day in a row. Since the fall this month has already been for more than $2,000, futures buyers in the region of $5,000 – $5,500 are interested in minimizing losses before its expiration. Therefore, it is likely that the upward correction, as a result, will go precisely to these marks. After that, the bearish trend will resume.
As part of the forecast for November 30, we can expect the continuation of the current upward correction. To get started with, the price needs to be fixed above $4,500. Therefore, the immediate goal is to break through this level. So far, the price has met with strong resistance. The breakdown will probably occur from lower levels of $4,220 – $4,170. The first upward correction target is at $4,740. Further, we can expect growth in the region of $5,000 – $5,500.
Alternative scenario – if the current correction encounters a largely negative reaction and the bears resume their pressure, then a fall to $3,300 – $3,000 may occur even before reaching the target correction levels. The first goal in this situation will be the update of the minima of the whole fall and the level of $3,600.
ETH/USD is being traded at $120.58 and continues the correction. Against the background of the positive news from Bitcoin, this coin also has every chance of a good upward correction. The news background, that Amazon has launched services on the Ethereum blockchain, which will allow it to become innovative for the industry next year, will support the coin. The current correction will last at least another day or two, after which the flat movement is likely to follow until the end of the year. In the future, the fall may resume. These expectations don’t apply much to this coin, but rather to the entire market. And Ethereum will follow the general dynamics.
As part of the forecast for November 30, we can expect a continuation of the upward correction. The success of the current correctional growth depends on overcoming the level of $130.00. At the moment, the price has not even tested it, but if this mark is passed, the target levels of the entire correction will be in the area of $150.00 – $155.00. Perhaps the growth to this mark will occur after the price leaves the zone of the price balance of $119.00 – $117.00. False breakdowns of this formation will allow us to gain strength for the impulse quickly and this scenario cannot be ruled out.
An alternative scenario – the end of the correction and testing the minima of the entire fall. In this case, we can wait for the continuation of the fall, to the levels of $100.00, $89.00, $83.70.
XRP/USD is being traded at $0.38181 and continues to be in a correction. Supporting the general market trend, this coin has grown as well. The level that will show whether we will see a full-fledged upward correction or not is a mark of $0.40000. If the bulls fail to break through, the price will trade for a while within a limited range of $0.40000 – $0.35000, which can later expand to $0.43000 – $0.33000 range. A flat in this area is quite likely before the end of the year.
As part of the forecast for November 30, we can expect the continuation of the current correction. The signal area is now very narrow and practically merges into a single level of $0.38000. This is actually the middle of the probable trading range of $0.43000 – $0.33000. The further development of a full-fledged correction may still occur. In this case, the first target will be the mark of $0.43000, and then the area of $0.45000 – $0.50000. If the coin again does not decide to argue with the market again, there will probably be a continuation of the fall with a target of $0.31000 from these levels.
XMR/USD is being traded at $60.160 and is in a correction. This coin predicted stopping of the downward movement of the entire market successfully two days ago. It’s difficult to predict whether the current correction will be complete or whether it will end just after beginning. The coin is located in the signal area, which is as narrow as that of the same area for Ripple. It is also located in the middle of the possible trading range of $65.000 – $54.000 that can be expanded up to the level of $72.000 in future if the trade lasts until the end of the year within it.
As part of the forecast for November 30, we can expect the continuation of the correction. The development of further upward correction would be the preferred scenario, both for bears and bulls. Therefore, we will consider it as the main one. It will be possible to talk about its full development after overcoming the price mark of $65.000. Further targets will be the level of $72.000 and the region of $86.000 – $78.000.
Attempts to break down a small current accumulation is a bit disappointing. Therefore, the end of the upward correction and the price drop down will act as an alternative scenario. The goal, in this case, will be the update of the lows and the level of $46.000.