Bitcoin Price Analysis, Ethereum, Ripple on 28.11.2020

Yesterday the rapid decline in prices stopped and the market stabilized in a sideways range.

BTC / USD

Yesterday, sales volumes still exceeded the average level, but sellers failed to roll back the price below the weekly low, which was recorded on Thursday near the 78.6% fibonacci level. 

By the end of the day, trading volumes decreased, andthe pair has stabilized around 16900.00 USD. This week, the price of Bitcoin has fallen by more than 16%, and the capitalization of the cryptocurrency flagship has decreased by $ 37 billion.

At the moment the pair is still tradingbelow average prices. Buyers tried to continue the recovery, but it is not yet possible to test the resistance of the hourly EMA55. If the bulls find support in the area of ​​17000.00 USD, then the price may recover to the resistance of 17600.00 USD. 

We believe that on the weekend the activity of market participants will be low and the price will move, mainly in a sideways direction, trying to consolidate in the area of ​​the moving average EMA55.

ETH / USD

Yesterday the lower limit of the green ascendingкоридора сдерживала натиск продавцов. Вечером медведям удалось проколоть поддержку зелёной трендовой линии, но до завершения дня цена эфира восстановилась в восходящий канал. 

If the bears push through the support of the trend line over the weekend, the pair will roll back to the area of ​​450.00 USD, and if purchase volumes begin to grow, then a recovery is possible to the area of ​​550.00 USD.  

XRP / USD

Yesterday, the psychological level of 0.500 USD limited the pressure of sellers and the price of Ripple recovered to the area of ​​average prices by the end of the day. 

Tonight trading volumes decreased and the priceconsolidated in a narrow sideways corridor in the area of ​​the hourly moving average EMA55. If buyers begin to increase volumes, the recovery will continue to the level of 0.600 USD. 

* All price values ​​are based on data from the BitStamp exchange

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