Price analysis 11/18: BTC, ETH, XRP, LINK, LTC, BCH, DOT, BNB, ADA, BSV

Within the terminal 24-hours, Bitcoin (BTC) toll hitting an intraday high of $xviii,466.xiv and this is only roughly 8% lower than the magical $20,000 figure existence watched by many traders.

Withal, investors in several countries such as Russia, Argentina, Brazil, and Mexico take already seen their Bitcoin holdings striking a new all-time loftier in their local currency. Even Bitcoin'southward market capitalization has hit a new record high, topping the high created in December 2017.

With institutional investors finally arriving in herds, it seems it is just a matter of time before Bitcoin finally overtakes $xx,000 and sets a new all-fourth dimension high.

Adding to the list of high contour billionaire's acquiring Bitcoin, Ricardo Salinas Pliego, Mexico's second-richest man, recently announced that he had invested in the digital asset. Accordion to Pliego, ten% of his liquid assets are held in Bitcoin.

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

Even existing investors have added to their holdings. Milky way Digital chairman and CEO Mike Novogratz recently said that he had purchased more Bitcoin at $15,800 as he expects a rally to $65,000. Novogratz believes that "the network effect has taken over" and with "tons of new buyers" coming in, the limited supply will not be plenty.

The steady institutional inflow has resulted in Grayscale Investments Bitcoin holdings surging to over 500,000 Bitcoin. An annual survey from the visitor revealed that about 38% of the respondents have bought Bitcoin in the past 4 months. 63% of these investors said that the coronavirus pandemic was the main cistron that influenced their decision to purchase Bitcoin.

After today'south spectacular rally, many investors are searching for hints on whether Bitcoin volition continue its uptrend or correct sharply from the current levels.

Allow's analyze the top-ten cryptocurrencies to see what the charts project.

BTC/USD

Bitcoin's (BTC) momentum was very strong in the by two days and while many investors believed that $17,200 would serve equally a major resistance, the price sliced correct through information technology with ease.

However, the cryptocurrency has been running hard since early October and it may soon tire out if information technology keeps proceeding at the current pace.

*BTC/USD daily chart. Source:* *TradingView*

If it takes a suspension to regroup and then resume the uptrend, this would exist a positive as it would all the current rally to have longer staying power. The price has currently formed a Doji candlestick and this shows there is indecision among the bulls and the bears.

If the price corrects to the 20-mean solar day exponential moving boilerplate ($xv,528), placed just to a higher place the 38.2% Fibonacci retracement level, it may be considered a good for you sign.

Even if the price does not correct, a range-bound activeness between $16,500 and $18,500 volition be positive.

Contrary to this assumption, if the momentum drives the BTC/USD pair to new highs without whatever pullback, then the possibility of the record highs sustaining will be lowered. At that time, a correction could be vicious as in that location is no major support until $12,500.

The relative strength alphabetize (RSI) has been trading between 70 and 84 for about a calendar month, which shows that the tendency is strong simply also overextended. Hence, at the risk of missing out on some office of the rally, traders should keep their greed in check and merchandise with suitable stop losses.

ETH/USD

Ether (ETH) inched above the overhead resistance at $488.134 today only the bulls could not sustain the breakout. This shows that the bears are defending the overhead resistance aggressively.

However, if the bulls do non permit the toll to dip below the 20-day EMA ($442), it volition suggest accumulation at lower levels. If the price consolidates nearly the overhead resistance, information technology volition increase the possibility of a pause above it.

If the ETH/USD pair sustains above $488.134, the rally could extend to $520 and and then to $550.

On the other hand, if the bears sink the price below the xx-mean solar day EMA, it will suggest that the momentum has weakened. A break below the 50-day simple moving average ($399) will tilt the advantage in favor of the bears.

XRP/USD

XRP reached its first target objective at $0.303746 on November. 17 and short-term traders seem to have booked profits at this level as seen from the sharp correction today. However, the bulls are trying to abort the decline at the fifty% Fibonacci retracement level of $0.278123.

If they succeed, and then another effort to push the toll above the $0.308176 resistance is likely. The side by side level where the bears may again launch a stiff resistance is $0.326113.

The upsloping moving averages and the RSI almost overbought territory propose that bulls have the upper mitt.

Opposite to this assumption, if the XRP/USD pair dips below $0.278123, a decline to the 20-twenty-four hours EMA ($0.264) is likely.

LINK/USD

Chainlink (LINK) broke in a higher place the $thirteen.28 overhead resistance on Nov. 17 merely the bulls are struggling to sustain the breakout. This suggests that the bears are attempting to sink the toll back below the breakout level.

If the LINK/USD pair breaks and sustains below the 20-day EMA ($12.26), it will invalidate the bullish inverse caput and shoulders pattern.

Conversely, if the bulls manage to sustain the toll in a higher place the breakout level of $xiii.28, the pair could start its journey towards the target objective of $xix.2731. The upsloping moving averages and the RSI in a higher place 59 propose that bulls are in command.

LTC/USD

Litecoin (LTC) is currently witnessing a pullback in an uptrend but the long tail on the candlestick shows stiff buying at the breakout level of $68.9008. This suggests that the bulls accept managed to flip $68.9008 as support. This level may at present act as a floor during future declines.

The ascent moving averages and the RSI in the positive zone suggest that the bulls are in control. They volition now effort to push the price above the $77.xx resistance and resume the uptrend. If they succeed, the LTC/USD pair could rally to $100.

On the reverse, if the bears sink the toll beneath the immediate support at $68.9008, it will advise that the momentum has weakened. A break beneath the 20-day EMA ($62.92) could signal that the bears have made a strong improvement.

BCH/USD

Bitcoin Cash (BCH) continues to face stiff resistance at the xx-day EMA ($255). This is a negative sign equally it suggests that the bulls are not able to absorb the selling by the bears and push the cost higher.

The price has cleaved below the moving averages and the bears will at present endeavor to sink the BCH/USD pair beneath the immediate back up at $242. If they succeed, the pair could drop to the $231 support.

A pause below $231 volition increase the likelihood of a fall to $200 but if the pair rebounds off $231, the range-bound activity may proceed for a few more days. The flat moving averages and the RSI in the negative territory propose a pocket-size advantage to the bears.

DOT/USD

Polkadot (DOT) bounced off the 20-day EMA ($iv.41) on November. sixteen and reached the overhead resistance at $four.95 on Nov. 17. The bears are currently trying to defend the resistance and keep the altcoin range-spring for a few more days.

Notwithstanding, the gradually upsloping 20-day EMA and the RSI in positive territory suggest that bulls have the upper hand.

If the price rebounds off the xx-24-hour interval EMA, the buyers may once again attempt to clear the hurdle at $4.95. If they can practice that, the DOT/USD pair could movement up to $5.5899.

Contrary to this supposition, if the pair breaks below the moving averages, the range-spring activeness between $three.80 and $4.95 could continue for a few more than days.

BNB/USD

The bulls failed to propel Binance Money (BNB) above the $27.xxx to $28.97 range today as the price turned down from the overhead resistance. This suggests that buying dries up at higher levels.

Nevertheless, this tight range trading is unlikely to go along for long. Before long, the BNB/USD pair will either break above or below the range. Information technology is hard to predict the direction of the breakout considering the indicators are suggesting a balance between supply and demand.

Therefore, information technology is improve to await for the price to escape the range before placing large bets. If the bulls push the price to a higher place the range, a rally to $32 is possible. Conversely, if the bears sink the cost beneath $27.30, the pair could retest the critical support at $25.6652.

ADA/USD

The bulls pushed Cardano (ADA) above the downtrend line on Nov. 17 but they take not been able to articulate the hurdle at $0.1142241. This suggests that the bears are defending this overhead resistance.

However, if the ADA/USD pair does non dip back below the downtrend line, the bulls will once again endeavor to propel the price above the overhead resistance. If they manage to do that, the pair will complete a double bottom design that has a target objective of $0.1391.

If the RSI breaks and sustains higher up 60, it could signal a possible option upwardly in momentum that could result in a break above $0.1142241. This bullish view will be invalidated if the pair breaks beneath the $0.098822 support.

BSV/USD

Bitcoin SV (BSV) rallied to a higher place the downtrend line on November. 17 only the bulls take not been able to sustain the momentum. This suggests that traders are closing their positions fifty-fifty on minor rallies.

The bears are currently trying to sink the BSV/USD pair back below the downtrend line, while the bulls are attempting to achieve a shut above information technology. The apartment moving averages and the RSI close to the midpoint does not give a articulate advantage either to the bulls or the bears.

A shut above the downtrend line could increase the possibility of a rally to $181 while a close below the line may result in a driblet to $146. The side by side trending move could start after the pair breaks in a higher place or below the $181 to $146 range.

The views and opinions expressed here are solely those of the author and exercise not necessarily reverberate the views of Cointelegraph. Every investment and trading movement involves risk. You lot should carry your own enquiry when making a decision.

Market data is provided by HitBTC exchange.