Price Analysis 11/27 of SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, LINK - Difference between Web 1.0 2.0 3.0 and Crypto Money Laundering
Price analysis 11/27: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, LINK

The beginning of the week has seen Bitcoin (BTC) on a bearish note. Despite bulls’ efforts, the $38,000 resistance has not been broken and held, giving the bears a chance to reclaim their power. Consequently, the price has dropped below $37,000 on Nov. 27.

Nevertheless, the bulls are likely to take advantage of the lower levels, hoping to keep the momentum going into December. On the other hand, the bears will attempt to extend the correction. This could result in increased volatility in the last days of November, as both the bulls and the bears compete for a monthly closing in their favor.

On Nov. 26, Robert Kiyosaki, the author of Rich Dad Poor Dad, shared his long-term bullish view on Bitcoin, gold and silver in a X (formerly Twitter) post. He also warned investors to get out of fiat money, calling it a “FAKE money system.”

Will Bitcoin and altcoins bounce off their respective strong support levels, or will the bears prevail? Let’s analyze the charts to find out.

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S&P 500 Index price analysis

The S&P 500 Index (SPX) has surged past the downtrend line, indicating strong demand at higher levels. This has caused the relative strength index (RSI) to enter the overbought zone, suggesting a minor correction or consolidation could be in the near future.

The 20-day exponential moving average (4,448) is the key level to watch. If the crypto money laundering index turns up from this level, it will suggest that traders view dips as a buying opportunity, increasing the likelihood of a break above 4,650.

Conversely, if the crypto money index falls below the 20-day EMA, it will show that the bulls are losing their grip and the crypto money index may dip to the 50-day simple moving average (4,346).

U.S. Dollar Index price analysis

The U.S. Dollar Index (DXY) attempted a recovery from the 50% Fibonacci retracement level of 103.46 on Nov. 21, but the bears were not willing to give in.

Sellers hindered the rebound at 104.21 on Nov. 22 and are trying to push the price down to the 61.8% Fibonacci retracement level of 102.55. The downward-sloping 20-day EMA (104.54) and the RSI near the oversold zone show that bears are in control.

The first sign of strength will be a break and close above the 20-day EMA. Such a move will indicate that the correction may be over. The index could then attempt to rally towards the strong resistance at 106.

Bitcoin price analysis

The formation of Bitcoin’s price action over the past few days is creating an ascending triangle pattern, which will be finalized if it breaks and closes above $38,000.

The uptrending moving averages and the RSI in positive region are suggesting that the easier path is to the upside. If the $38,000 resistance is overcome, the BTC/USDT pair could surge to $40,000. This level may again act as a hindrance, but if it is surpassed, the pair could reach the triangle’s target of $41,160.

The bears will have to push the price below the uptrend line to invalidate the bullish setup. That could open the doors for it to fall to $34,800. If the price rebounds from this level, it will indicate a range-bound movement between $34,800 and $38,000. The bears will have the upper hand if there is a break and close below $34,800.

Ether price analysis

Ether (ETH) attempted to breach the overhead resistance of $2,137 on Nov. 24, but the bulls failed to push it past this point. This caused a sell-off, as indicated by the long wick on the day’s candlestick.

The bears are currently trying to drag the price below the 20-day EMA ($1,998). If they succeed, the ETH/USDT pair could drop to $1,904. A break below this support level will form a double-top pattern, which could lead to a further correction towards the 50-day SMA ($1,834).

Alternatively, if the price rebounds from the 20-day EMA, it will suggest that buyers are still present at lower levels. The pair may then climb to the overhead resistance zone between $2,137 and $2,200. In order to complete a large ascending triangle pattern, buyers must overcome this area.

BNB price analysis

The failure of BNB (BNB) to break the 20-day EMA ($237) on Nov. 23 suggests that the bears are attempting to turn the level into resistance.

The bears have kept up their selling pressure and have pushed the price below the 50-day SMA ($229). The BNB/USDT pair could then slip to the strong support at $223 and even further to $219. Buyers are likely to firmly defend this zone.

On the upside, the bulls will need to lift and maintain the price above $240 to indicate that the selling pressure is decreasing. This could initiate a rally to $255 and later to the major resistance at $265.

XRP price analysis

XRP (XRP) has bounced off the 50-day SMA ($0.58) on Nov. 22, but the crypto money laundering has failed to break above the 20-day EMA ($0.61). This suggests that the bears are trying to flip the 20-day EMA into resistance.

Sellers will try to sink the price below the 50-day SMA and challenge the vital support at $0.56. If this level is breached, it will suggest that bears are back in command and the XRP/USDT pair may then gradually collapse to $0.46.

On the contrary, if the crypto sol turns up from the current level or $0.56 and rises above the 20-day EMA, it will indicate that the pair may continue to oscillate inside the large range between $0.56 and $0.74.

Solana price analysis

Solana (SOL) declined from the resistance at $59 on Nov. 26, indicating that the bears are attempting to impede the relief rallies at this level.

The bears could attempt to strengthen their position by pushing the price beneath the 20-day EMA ($53). If the SOL/USDT pair breaks below the neckline at $51, it could form a head-and-shoulders pattern, leading to a sharp correction to the 50-day SMA ($40) and then to the pattern target of $34.

The bulls are likely to have other plans. They may attempt to stop the decline near $51. If the bounce off this level surpasses $59, it would indicate that bulls are back in control. The pair may then retest the local high at $68.

Cardano price analysis

Cardano (ADA) failed to break the $0.40 resistance level in the past three days, which may have prompted crypto money laundering traders to take profits.

The ADA/USDT pair could slide to the 20-day EMA ($0.37), which is likely to attract buyers. If the price bounces off this level with vigor, it could show that the trend remains positive and crypto money traders are buying on dips. The bulls may then make one more attempt to overcome the $0.40 obstacle. If successful, the pair may surge to $0.46.

Conversely, if the 20-day EMA cracks, the pair could drop to $0.34. Buyers are expected to guard this level as if it gives way, the pair may reach the 50-day SMA ($0.32).

Dogecoin price analysis

The bears attempted to push Dogecoin (DOGE) below the 20-day EMA ($0.08) on Nov. 26, yet crypto money laundering buyers bought the dip, as evidenced by the long tail on the candlestick.

The bulls then drove the price above the $0.08 resistance on Nov. 27, yet the long wick on the candlestick displays strong selling at higher levels. If the price dips below the 20-day EMA, the DOGE/USDT pair could fall to the 50-day SMA ($0.07).

Conversely, if the price rebounds off the 20-day EMA again, it will show demand at lower levels. The bulls will then try to push and maintain the price above $0.08. If they succeed, the pair could gain momentum and surge toward $0.10.

Chainlink price analysis

On Nov. 26, Chainlink (LINK) managed to break above the downtrend line, but the bulls were unable to capitalize on the momentum, which likely resulted in selling pressure that pushed the price below the downtrend line on Nov. 27.

The 20-day EMA ($14) is the key support to watch out for in the near term. A decline below this level and a sustained stay there would indicate that the bears are attempting to make a comeback. This could cause the LINK/USDT pair to drop to the 61.8% Fibonacci retracement level of $12.83.

On the other hand, if the price rebounds off the 20-day EMA, it would suggest that sentiment remains positive and traders are buying on dips. This would increase the chances of a rally to the overhead resistance of $16.60.

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