Bitcoin Price Analysis, Ethereum, Ripple on 26.11.2020

Tonight, a strong bearish impulse broke through the nearest support level and marked a weekly low.Will the bulls be able to stop the fall?

BTC / USD

Yesterday morning the hourly EMA55 supported the Bitcoin priceand buyers restored the pair to the annual high zone. The recovery was not supported by volumes, and barely the price had time to update its annual high at 19490.00 USD when the bears began to increase pressure. 

By the end of the day they returned the pair to the average areaprices, and at night the pressure intensified and the price broke through the hourly moving average EMA55. In the morning, sellers formed a powerful bearish impulse, which broke through the support of 17600.00 USD and marked a weekly low around 17250.00 USD. 

After a rebound to 18000.00 USD, trading volumes began to decline and price volatility decreased. Most likely, after a sobering fall, some consolidation in the side corridor with support at 17600.00 USD is possible. If the price manages to stabilize, then the bulls will be able to return the pair to the average price area. 

If, after a short sideways move, the bears increase their pressure and break through the purple support level, then the price will roll back to the 78.6% fib level (16125.65 USD). 

ETH / USD

Yesterday morning, buyers were unable to continue their growth.Above the 600.00 USD mark, buying volumes decreased and sellers began to increase pressure. Until the end of the day, the price of ether could not stay above 580.00 USD, and tonight the bears broke through the support of 550.00 USD and tested the lower boundary of the green ascending channel. 

Until the morning, the pair managed to stay above the psychological level of 500.00 USD and if the bulls can stop the decline, then today they will try to restore the pair to the level of 550.00 USD. 

If market participants are pessimistic, the pair will leave the ascending channel and test the level of 475.00 USD. 

XRP / USD

Yesterday, in the first half of the day, buyers triedrestore the price of Ripple after a rollback to the area of ​​0.600 USD, but in the evening the selling pressure became more noticeable, and by the end of the day the price returned to the level of average prices. 

After midnight, trading was quite nervous, and the bears pushed through the hourly EMA55, and in the morning the bearish impulse marked a local minimum at 0.525 USD. 

At the moment, there is still a possibility of a re-test of the psychological mark of 0.500 USD, but if buyers are able to seize the initiative, they will try to restore the pair to the area of ​​average prices. 

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

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