21 November BTC, ETH, XRP, LTC, DOT, ADA, XMR, BAT, ATOM and VET Price Analysis
The cryptocurrency market has recently gained significant momentum with Bitcoin’s rise.Let’s take a look at the cryptocurrency analysis of November 21st.
Bitcoin Price Analysis
In Bitcoin, we witnessed another strong price increase this week. BTC made faces laugh with a 15% price increase.With this price movement, Bitcoin first rose above $ 18,000 and then up to $ 18,800.Bitcoin, which traded at $ 16,400 last Friday, tried to break this resistance over the weekend.
This change happened on Monday, when Bitcoin started to rise, and BTC managed to quickly rise above $ 17,000. Afterwards, it broke the resistance at the 2018 Summit at $ 17,186. The bull run continued to rise throughout the week until resistance was found around $ 18,200. It fell from there in the past two days but managed to stay in support at $ 17,600.
Today, Bitcoin has surged above $ 18,000 and moved beyond $ 18,400, reaching the current $ 18,800 level.Looking ahead, the initial resistance level is expected to be at $ 18,933. Beyond $ 19,000 resistance is found at $ 19,262, $ 19,500, $ 19,646 and $ 19,907.
Beyond ATH, resistance is the $ 20,000, $ 20,228, $ 20,500 and $ 20,600 levels.On the other hand, the initial support level is at $ 18,400. Below that, support is expected to be $ 18,000, $ 17,600, $ 17,186 and $ 17,000.
Ethereum Price Analysis
Ethereum witnessed a smaller 10% price increase this week, but still managed to break the $ 500 resistance level. The coin climbed to $ 475 at the closing price of September’s High Day last Friday, and went down on the weekend.It managed to recover from $ 438 (the August 2018 Highs) and climb to highs throughout the week. Today Ethereum climbed above $ 475 and broke the resistance at $ 490 and $ 500, reaching current resistance at $ 511.Looking ahead, if buyers continue beyond $ 511, resistance is expected at $ 528, $ 548, $ 568 and $ 580.On the other hand, the initial support level is the $ 500 level. Below that, there are support at $ 490, $ 480, $ 456 and $ 438.
Ripple Price Analysis
Ripple has outperformed Bitcoin this week, and the cryptocurrency is up 23.7%, with a strong rise to $ 0.322 today. The coin has since dropped slightly to trade at $ 0.319. XRP was trading below $ 0.27 at the end of last week as it started to rise.
During the week, XRP tried to close a daily candle above the $ 0.30 resistance. Today the bulls managed to break the $ 0.3 level and raise the price to the $ 0.321 resistance.Forward resistance is expected at $ 0.33, $ 0.337, $ 0.341 and $ 0.35 if buyers continue towards above the $ 0.322 level. Additional resistance lies at the $ 0.354, $ 0.36 and $ 0.362 levels.
On the other hand, the initial support level is at $ 0.31. Below that the levels of $ 0.30, $ 0.29 and $ 0.282 are in the support task.
Litecoin Price Analysis
Litecoin became the strongest performing coin among the top 20 cryptocurrencies, after a solid 41% increase to reach the current $ 81.90 level. The cryptocurrency came here from the $ 63 level last Friday, when it started to rise.On Monday, Litecoin saw a massive surge that allowed the coin to break $ 64 and rise to $ 74. Yesterday, Litecoin continued to break $ 76 and hit resistance at $ 81.38. Buyers feel that there will be a bit more bullish today as we approach the 2020 high of $ 84.22.
Looking ahead, if the bulls can break the 2020 high, the initial resistance level lies at $ 85.88. Above this, resistance can be found at $ 87.77, $ 90, $ 91.31 and $ 95.13. This is followed by resistance at the $ 100 level.
On the other hand, the initial support level is $ 80. Below that, support is located at $ 76, $ 71.20, $ 68.97 and $ 67.35.
Polkadot Price Analysis
Polkadot saw a small 22.9% price increase this week, but still managed to outperform Bitcoin. The DOT has been trading within an ascending price channel since mid-October and has jumped higher than the lower bound of this channel this week.
The cryptocurrency has surged today to as high as $ 5.61. Since then, it has fallen to trade near the upper limit of the price channel at $ 5.41.
Looking ahead, if the bulls move higher, the first resistance level is at the upper end of the price channel. Above this, resistance is located at $ 5.61, $ 5.86, $ 6.10 and $ 6.18.
On the other hand, the initial support level is located at $ 5.22. Below that, support is at $ 5.00, $ 4.92, $ 4.70 and $ 4.50.
ADA Price Analysis
ADA dropped to $ 0.08 on September 23 and has been moving in the bullish channel ever since. The upward momentum seems to have disappeared. The price failed to clear a local resistance as it approached $ 0.11. However, technical information and measurements on the chain show that the price may have gained support again and is now ready to continue to recover.
On a daily chart, a group of ADA / USD broke above the EMAs including 50, 100 and 200 EMAs. This is a positive signal, meaning the price could bounce off the support created by the 100 EMA from $ 0.104. The next hurdle has been created by the EMA200, which has served as the backstop for cryptocurrency since the end of April. It currently sits at $ 0.09.
Initial local resistance is located at the $ 0.11 level. This area has been price tested multiple times since the end of October. The upside is likely to gain interest with the next focus on the key hurdle approaching $ 0.124.
Monero Price Analysis
The price of Monero rose more than 7 percent last week and is currently trading at $ 121.2. The privacy-focused cryptocurrency currently has a market cap of $ 2.1 billion and appears to be based on a -1.2 percent correction in the last 24 hours.
At the time of writing, cryptocurrency support is close to testing at $ 118, and if the bullish momentum continues, it may soon be on its way to try and break the $ 126 resistance.
After falling below the cryptocurrency’s current transaction price, EMA lanes are likely to offer support if Monero faces downward pressure. The MACD indicator has shown a bearish trend and points to the possibility of a correction to continue.
BAT Price Analysis
BAT is currently trading at $ 0.197 with a key resistance level of $ 0.206.
BAT is currently testing support at $ 0.195 and spent the past week consolidating its price between these two levels.
Both the RSI and the MACD indicator, the former, is entering the oversold zone. The second is showing a downward trend.
ATOM Price Analysis
Cosmos’ fate is actually very similar to that of XRP. In the past 7 days, the price of Cosmos has increased by more than 3 percent and is currently trading at $ 5.2.
However, the sideways movement of cryptocurrencies has increased in the last few days. At the time of writing, Cosmos is facing significant resistance at the $ 5.4 price level and seeing support at $ 4.8.
Bollinger Bands significantly narrowed and crypto show very low volatility for money. On the other hand, the RSI looks promising as it is now entering the overbought territory.
VET Price Analysis
VeChain is currently ranked 31st on the CoinMarketCap list and is trading at $ 0.011. VET recorded a trading volume of $ 91 million. The token can then cope with the $ 0.012 resistance level.If the price of the cryptocurrency falls, there is a support level of $ 0.010.
The RSI indicator is now moving away from the neutral zone and is now heading towards the overbought zone. However, looking at the MACD indicator shows that the bearish trend is taking place.