The bulls have regained their lost positions as most of the top 10 cryptocurrencies are back in the green zone. Altcoin giants Cardano and Ripple continue to threaten the bulls with the sideways movements of November 15. According to analyst Denys Serhiichuk, the breach of the support lines extending from September and October may deepen the decline. We evaluate possible scenarios with the following technical levels.
Bitcoin (BTC) strongest support $60,000
Bitcoin (BTC) has dropped 2.55% in the past seven days. Moreover, despite today’s price hike, it failed to hold its bullish momentum after setting the new high around $68,500. In addition to this, the trading volume decreased. According to the analyst, this means that buyers are not as strong as they used to be. In a bearish scenario, Bitcoin’s strongest support is found at $60,000. The technical chart below can be followed for demand regions.
Ripple bulls will defend these levels to drive $1 away
Ripple (XRP) is down 5.64% compared to last week. On the daily, it remains stable at 0.86%. The analyst states that the XRP price continues to trade in a broad channel with no bearish or bullish signals. Also, the bulls falsely exited the resistance at $1.29, confirming buyer weakness. If the XRP bulls fail to seize the initiative now, the decline could continue towards the most liquid area around $1,10152.
Cardano (ADA) technical analysis
cryptocoin.com As we reported in our analysis, Cardano (ADA) remains stable in daily and weekly growth rates. It currently trades similarly to XRP as neither bulls nor bears dominate. In this case, possible price action continues to trade sideways in the range between the support at $1,832 and the liquidity zone around $2.10. Such a scenario could be valid until the end of next week. The analyst tracks these levels on the XRP chart:
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