Cryptocurrency prices analysis and forecast – 1 December 2018

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Cryptocurrency prices analysis and forecast – 1 Deсember 2018
Cryptocurrency prices analysis and forecast – 1 December 2018

BTC/USD

BTC/USD is being traded at $4,075 and continues to be in the correction. The previous impulse was not strong enough to overcome at some significant marks. The price did not find the necessary support at higher levels and went lower. It’s not an option to expect the rapid development of the upward correction anymore. Cryptoinvestors do not see any guarantees of growth and are in no hurry to return deposits from the more promising fiat. Partially the “blame” for this lies on the political situation. Constant tensions, harsh statements, inadequate actions and provocations allowed fiat to increase its volatility. As a result, it has become a more attractive tool for speculation. Assets that were traditionally associated with stability and having no chance to depreciate, are a safe haven for savings now. Digital currencies on this background are becoming less attractive. They cannot be attributed to either one or the other group. There are fewer people that want to risk now. Therefore, as we assumed earlier, this year is unlikely to change anything. The approximate boundaries of the upcoming flat are $4,700 – $3,700.

BTC/USD Forecast and analytics 1 Deсember 2018
BTC/USD Forecast and analytics 1 December 2018

As part of the forecast for December 1, we can expect the continuation of the correction. The signal area is now very narrow, so we mark it with a price level of $4,160. This is the level of the “balance” of the asset price for the next day. The price will tend to return to this value after moving higher or lower. So, as it is lower now, then, probably, the price will first test this level and then go to the lower flat area of $3,800 – $3,600.

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An alternative would be to continue the development of a full upward correction. To start with, the price will need to break through $4,500 and go to the first goal of $4,740. We can expect growth in the resistance zone of $5,500- $5,000 later on.

ETH/USD

ETH/USD is being traded at $115.32 and continues the correction. This coin, like the rest of the crypto market, could not take the opportunity to fully adjust its price. The technical picture here is not entirely obvious. The negative scenario is stronger as with the previous coin. A bear market can divert the price below $100.00 and to the $89.00 – $83.70 area after that, forming the lower bound of the flat. Now its approximate area is at $130.00 – $100.00. It is also worth noting that at the level of $99.00 there is a strong dynamic support. It is unlikely to freely let the market to go below it. Therefore, there is a possibility of forming the lower border of the trade corridor in this particular area.

ETH/USD Forecast and analytics 1 December 2018
ETH/USD Forecast and analytics 1 December 2018

As part of the forecast for December 1, we can expect the continuation of the correction. The signal area is now very narrow, so we can mark it with the price level of $117.00. This is the level of the “balance” of the asset price for the next day. The price will tend to return to this value after moving higher or lower this level. Currently, the price is below it, and probably, the price will test it first, and then will go to the region of $105.00 – $100.00.

An alternative would be the continuation of the development of a full upward correction. To start with, the price will need to break through $130.00 and gain a foothold above. We can expect growth in the resistance zone of $150.00 – $155.00 after that.

XRP/USD

XRP/USD is being traded at $0.36737 and continues to be in the correction. The coin continues to follow the overall market dynamics. Upward momentum is not received. There is still too much fear after the collapse of the entire market. As long as negative emotions won’t calm down, the bulls are unlikely to take control of the price movement. Perhaps after the upcoming holidays, we will see changes in the mood of market participants. But at the moment prospects for price fluctuations in the range of $0.43000 – $0.33000 are more likely.

XRP/USD Forecast and analytics 1 December 2018
XRP/USD Forecast and analytics 1 December 2018

As part of the forecast for December 1, we can expect the continuation of the current correction. The signal area is very narrow – $0.37523 – $0.37743. This is the zone of “balance” of the asset price for the next day. The price will tend to return to this value after moving higher or lower. For now, it is below this level and, probably, the price will first test it and then go to the lower boundaries of the flat area of $0.34500 – $0.33500.

An alternative would be the continuation of the development of a full upward correction. To start with, the price will need to break through $0.40500 and go to the first goal of $0.43000. We can expect growth in the resistance zone of $0.50000 – $0.45000 later on.

XMR/USD

XMR/USD is being traded at $57.737 and is being in the correction. Bears continue to hold their positions. As in the case with Ethereum, the technical picture here is not quite obvious. The price of this coin is very close to the lows of the whole fall. Therefore, it is likely that it will be updated. After that, a clearer border of the trading range may be formed. The closest support level is at $46.000. However, it is difficult to say whether the price will go down to it or not. It is possible that the price will find support at higher values. The boundaries of the possible trading range are $65.000 – $54.000. In the future, it can expand to the levels of $72.000 – $46.000.

XMR/USD Forecast and analytics 1 December 2018
XMR/USD Forecast and analytics 1 December 2018

As part of the forecast for December 1, we can expect the continuation of the correction. The signal area is very narrow, so we can mark it with the price level of $60.250. This is the level of the “balance” of the asset price for the next day. The price will tend to return to this value after moving higher or lower. For now, it is lower and, probably, the price will first test it, and go to the region of $54.000 – $53.000 after that.

An alternative would be the continuation of the development of a full upward correction. To start with, the price will need to break through $65.000 and go to the first goal of $72.000. We can expect growth in the resistance zone of $86.000 – $78.000 after that.