Bitcoin (BTC) has returned to support levels after briefly surpassing $17,000 following November 15’s US PPI data. Meanwhile, most altcoins were following the market momentum. In this article, let’s examine the Binance-listed altcoins that are preparing for a trend change in the midst of sideways movements.
HBAR identifies next uptrend on Binance board
The HBAR price has lost 33% of its market value since the beginning of November. The sharp downward trend swept away the liquidity levels until 2020. Near new lows at $0.042, the Volume Index started to increase in trading. On November 14, after producing a higher low (HL), the bulls produced a strong driving rally with a larger volume increase than the previous drop.
HBAR is currently trading at $0.04804. The bulls are trying to use the recently lost 8-day EMA as support before recovering. If successful, the next level to target will be $0.056, which coincides with the 21-day SMA. This means a 15% gain.
The bearish thesis will be further valid with the break of $0.043. If this point is breached, a downtrend move to the $0.038 region targeting 2020 liquidity levels could occur. Such a move would result in a 24% drop from the current HBAR price. Analyst Tony Montpeirous summarizes his HBAR analysis as follows:
The invalidation of the bullish thesis will occur with the breach of $0.043. After that, there is the $0.038 zone, which targets 2020 liquidity levels.
Luna Classic price approaching a breakout
Luna Classic price has been falling since the first days of November, touching the descending trend resistance line. He recorded a number of LL levels throughout the process. Technically speaking, the RSI data is producing higher lows (HL) for these periods, showing that the momentum is picking up. This mismatch is called bullish bias. Usually, in this case the Luna Classic price is resolved by a rise for the underlying asset available.
Another FTXStreet analyst, Akash Girimath, says that LUNC price could visit critical supports around $0.000220 in this case. This move will represent a 22% increase. A local top for LUNC may form here, while said resistance reversal will show bulls hungry for more. According to the analyst, such a development would increase the momentum to $0.000277, bringing the total gain to 50%.
On the upswing for LUNC, a break of the $0.000161 support level will create a lower low. So he will suggest that the ascension thesis is invalid. This move will allow traders to regroup in the three-day demand zone stretching from 000115 to $0.000140. This means an additional 12% reduction.
Chiliz rises amid Binance and football partnerships
The price of Chiliz has been expected to rise for some time now thanks to the arrival of the FIFA World Cup. The football tournament will begin on November 20. As the date approaches, the CHZ price has rallied over 5% on the 24-hour timeframes. This is because CHZ is a football-related token that contains fund tokens.
On the technical side, CHZ price found a solid support base at $0.2334 which has now turned into resistance. If the price breaches this zone, there will be a new opportunity for the bulls to take the stage. A bounce from $0.2334 will lead the bulls to the next resistances after $0.2619. Turning this place into support prepares CHZ for a few months break. CHZ is supported by necessary conditions as the price is currently turning the 30-, 50- and 100-day SMAs into support levels. Maintaining this position will be crucial for recovery.
Analyst Aaryamann Shrivastava advises to be careful before taking a long position. If Chiliz price fails to turn the $0.2334 support and declines again, it will consolidate above $0.1976. A daily close below this level will trigger an 8% drop towards $0.181, invalidating the rise. This causes CHZ to drop to a three-month low of $0.1503. cryptocoin.comAs you follow, Binance is currently working with Cristiano Ronaldo.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.