Price analysis 11/13: BTC, ETH, XRP, LINK, BCH, LTC, BNB, DOT, ADA, BSV

Information shows that Bitcoin's (BTC) current rally is supported by greater participation from retail and institutional investors. The CME Bitcoin futures open interest has moved closer to the previous all-fourth dimension high, a sign that institutional investors are becoming more interested in cryptocurrencies. Similarly, Bitcoin's spot volume has hit a new 52-week high, co-ordinate to data from Arcane research.

Notwithstanding, during strong uptrends, traders tend to get greedy and take on excessive leverage. Hence, big open interest on derivatives could human activity equally a double-edged sword considering even a small-scale decline in Bitcoin could force the highly leveraged traders to shut their positions. Such a move could have a cascading effect that could lead to long liquidation.

*Daily cryptocurrency market performance. Source:* *Coin360*

While traders should be cautious, in that location is no need to panic every bit yet because the current upwards-move in Bitcoin has happened without any euphoria or frenzy, especially among retail traders.

Moreover, several analysts take been skeptical of the rally, which is another positive sign. The top ordinarily forms when the last behave in the market turns bullish and there is no one left to purchase.

This does not mean that there will be no corrections forth the style. Pullbacks are necessary to periodically milk shake out the weak hands and this mostly improves the longevity of the tendency.

Let's analyze the top-x cryptocurrencies to ascertain whether the uptrend volition go on or is a correction around the corner.

BTC/USD

The bulls pushed Bitcoin (BTC) above the $16,000 overhead resistance on Nov. 12. This breakout started the next leg of the uptrend that may carry the toll to the critical overhead resistance at $17,200.

The upsloping moving averages and the relative force index in the overbought territory suggest that the bulls are in command. If the momentum tin can carry the price above $17,200, and so the bulls will have a articulate shot at the all-fourth dimension highs.

Still, traders can go cautious if the pair turns downwards from the electric current levels and drops beneath $16,000 once once more. This will suggest that the market participants have rejected higher levels.

If the price sustains below $16,000, the bears volition effort to sink the BTC/USD pair below the 20-24-hour interval exponential moving average ($14,596). Such a move will indicate that bulls are not ownership the dips equally the sentiment has turned negative.

ETH/USD

The bulls are finding it difficult to propel Ether (ETH) in a higher place the resistance line of the rise wedge pattern. Yet, the positive thing is that the bulls have non given upwards much footing.

The bulls will again endeavour to thrust the price higher up the wedge. If they can do that, the ETH/USD pair may ascent to $488.134. The bears may again endeavor to stall the up-motility at this resistance. If they succeed, a drop to the 20-twenty-four hour period EMA ($426) is possible.

Conversely, if the bulls tin push button the toll above $488.134, the next leg of the uptrend is likely to begin. The get-go target on the upside is $520 and then $550. The upsloping moving averages and the RSI above 67 suggest that bears are in control.

The beginning sign of weakness will be a interruption below the 20-mean solar day EMA. Such a motion could result in a drop to the support line of the wedge.

XRP/USD

XRP has been consolidating near the $0.26 overhead resistance for the by two days. This suggests that the bulls are non closing their positions in a hurry every bit they await the toll to break to a higher place the range.

The ascension moving averages and the RSI above 59 suggest that bulls are in control. A breakout and close above $0.26 could showtime the journey to $0.30. Above this level, the up-motion may achieve $0.326113.

Contrary to this assumption, if the bulls again fail to sustain the toll above $0.26, and so the bears will try to pull the price back below the moving averages. If they succeed, the XRP/USD pair may drop to $0.2295.

LINK/USD

The bulls failed to push and sustain Chainlink (LINK) above $13.28 on Nov. 11. This shows that the bears are aggressively defending this resistance. However, the positive affair is that the bulls have not given upwards much ground in the past two days.

The bulls are currently attempting to drive the price to a higher place $13.28. If they manage to do that, the LINK/USD pair will complete an inverse head and shoulders pattern that has a target objective of $nineteen.2731.

Both moving averages are sloping upward and the RSI has risen to a higher place 58. This suggests a pocket-size advantage to the bulls.

Reverse to this assumption, if the pair turns downwardly from $xiii.28 once again, the bears volition endeavour to pull the toll downwardly to $9.7665. A break below this back up will invalidate the bullish pattern.

BCH/USD

The bulls purchased the dip below the 20-twenty-four hour period EMA ($257) on Nov. 12 merely could not sustain the college levels. This has attracted selling by the bears and Bitcoin Greenbacks (BCH) has broken below the 20-mean solar day EMA.

If the bears sink the price below the 50-solar day elementary moving average ($247), the BCH/USD pair could drop to the next support at $231. The bulls take defended this support on ii previous occasions, hence, a pause beneath information technology may intensify selling and drag the toll to $200.

However, the twenty-twenty-four hour period EMA is flat and the RSI is close to the midpoint, which suggests a few more days of range-bound activity. The momentum could pick up if the bulls push the price above $280 or the bears sink the price below $231.

LTC/USD

Litecoin (LTC) has surged to a higher place the $64 resistance today, which shows that the bulls take overpowered the bears. The buyers will now effort to sustain the momentum and drive the price higher up $68.9008.

If they succeed, the next leg of the uptrend could brainstorm. The adjacent target is $80 and so a rally to $100 is possible. The upsloping moving averages and the RSI above 67 suggest bulls are in charge.

Contrary to this assumption, if the price over again turns downward from the current levels and plummets below $64, it volition suggest a lack of buyers at higher levels. Such a movement could attract turn a profit booking that may effect in a drop to the 20-day EMA ($57.86).

BNB/USD

Binance Coin (BNB) is currently stuck in a tight range betwixt $28.97 and $27.30. The altcoin bounced off the back up of this range on Nov. 12 and the bulls will now try to push the toll to a higher place the moving averages.

If they succeed, the BNB/USD pair could ascension to $30 and a break to a higher place this resistance may open the gates for a rally to $32.

However, the downsloping twenty-day EMA and the RSI just below the midpoint suggest a small advantage to the bears.

If the price turns downwards from the current levels and breaks below $27.30, the pair may drop to $25.6652. A intermission beneath this support will bespeak weakness.

DOT/USD

Polkadot (DOT) turned down from $4.63 on Nov. 11 and the bears attempted to sink the price below the 20-day EMA ($4.31) on Nov. 12 but failed. This shows that bulls are defending the moving averages.

The twenty-day EMA is rising gradually and the RSI is above 55, which suggests that bulls take the upper hand. However, the buyers will accept to sustain the price above the immediate resistance at $four.50 to increase the possibility of a move to $4.95.

Contrary to this assumption, if the DOT/USD pair over again turns down from $four.fifty or $four.63, the bears will try to sink the toll below the moving averages. If they succeed, the pair could driblet to the $three.80 support.

ADA/USD

After the bulls failed to push Cardano (ADA) higher on Nov. 10 and xi, the bears tried to sink the toll below the moving averages on Nov. 12 just could not. The altcoin has currently rebounded off the xx-day EMA ($0.102) and the bulls are attempting to push the toll to $0.1142241.

The moving averages are rising and the RSI is in the positive zone, suggesting an advantage to the bulls. The ADA/USD pair could option upwardly momentum after the bulls push the price above $0.1142241.

Yet, if the pair turns down from the current levels and plunges beneath the moving averages, the bears will endeavor to pull the price down to the $0.0893 back up.

The side by side trending motility may start later the bulls button the toll above $0.1142241 or the bears sink the price below $0.0893.

BSV/USD

The bulls accept failed to propel Bitcoin SV (BSV) to a higher place the 20-solar day EMA ($162) in the by three days. This suggests a lack of urgency among the bulls to buy at the current levels.

The 20-day EMA has started to plough down and the RSI is just below the midpoint, which suggests a small-scale reward to the bears.

If the sellers can sink the price below the immediate support at $154.66, the BSV/USD pair could drop to the $146 support.

This negative view will be invalidated if the bulls tin can button the price in a higher place the moving averages and the downtrend line. Such a motility will increase the possibility of a rally to $181.

The views and opinions expressed here are solely those of the author and practice not necessarily reflect the views of Cointelegraph. Every investment and trading motion involves run a risk. You should conduct your ain enquiry when making a decision.

Market data is provided past HitBTC exchange.