The following are key points.
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Bitcoin will reverse its direction if the price closes under $107,000.
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Many altcoins broke below their immediate levels of support, opening the door for more downside.
Bitcoin has recovered from its October performance.BTC) has failed to change course. BTC began the new month on a downward trend, dropping below the key support of $107,000. The bears appear to be trying to gain control.
It is important to note that the word “you” means “you”. demand from institutional investors has slowed downFarside Investors reported that BTC ETFs lost $799 million last week.
Charles Edwards, founder of Capriole Investments, said on X in a blog post that institutional buying had dipped For the first time since seven months the supply of daily ore was below what could be mined. This is not good news.
BTC’s record of bulls has been a minor source of optimism. average gain of 42.34% in NovemberAccording to CoinGlass,. The traders must not solely rely on the historical data, because BTC’s November has been in red four times since 2018. The markets are therefore susceptible to any swing.
BTC could extend its fall, causing altcoins to drop. Find out what the chart of top ten cryptocurrencies says.
S&P 500 Index price prediction
The S&P 500 Index (SPX) remains in an uptrend; however, the negative divergence on the relative strength index (RSI) suggests that the bullish momentum may be weakening.
To signal strength, sellers will need to lower the price of the index below the simple 50-day moving average (6647). The index may then begin a more severe correction, bringing it down to 6,400 and 6,550.
The buyers are more likely to be thinking about other things. The buyers will attempt to push the index over 6,920 and defend the 20 day exponential moving average. The index may rally up to 7,000 if that occurs.
US Dollar Index price prediction
The US Dollar Index DXY bounced Wednesday off its 20-day EMA (989.92), signalling a positive outlook.
Index may rally up to 100.50. The bears should mount a solid defense. The likelihood that the index will rally towards the 102 resistance is increased if buyers don’t allow it to fall below the 20 day EMA.
First, a breach and a closing below the 20 day EMA will indicate weakness. The bears may be active in higher levels. It could drop to the SMA 50 days (98.24).
Bitcoin price prediction
BTC plunged sharply below $107,000 on Monday, after a steep decline from the 20 day EMA.
If the pair closes below the level of $107,000, a double-top will be completed and the correction phase begins. BTC/USDT may then drop down to the $100,000 psychologically significant price level. The $100,000 mark is expected to be defended with all the force of the buyers, since a breach below this level could signal a new downward trend.
Bulls must push price higher than the moving averages in order to signal that bears have lost their hold. Buyers pushing the Bitcoin rate above $118,000 could give it a boost.
Prediction of Ether prices
EtherETH) turned down from the 20-day EMA ($3,937) and broke below the support line of the descending channel pattern on Monday.
Bears gain an edge when the moving averages descend and the RSI falls below 37. The ETH/USDT could fall to the support area of $3,435-3,350 if the price falls below the line.
In the short term, this negative outlook will be nullified if Ether prices rise sharply and break above moving averages. This suggests that the market has rejected the breaking below the channel. This pair may then move up to the channel resistance line.
XRP price prediction
Buyers try to push XRPXRP) above the 20-day EMA ($2.52), but the sellers held their ground.
Bears are likely to try to push the pair XRP/USDT to $2.20. This is an important level for short-term trading. The XRP could drop to $2, then $1.80 if the $2.20 level is broken.
A recovery effort is likely to be met with selling near the SMA of 50 days and at the 20 day EMA. To indicate that a trend may be changing, the bulls need to push the price over the downtrendline.
BNB price prediction
BNBBNBOn Sunday, the price of ) fell below its 50-day SMA (1 092) and on Monday the sale intensified.
The moving averages will soon complete a crossover in a negative direction, while the RSI has entered the negative zone, signaling the control of the bears. This $1,021 level has been broken, allowing a plunge to $860 and then to $932, the intraday low for Oct. 10. A move like this suggests that BNB/USDT has reached its top in the near-term.
Bulls, time is shortening. To signal their strength, they will need to push BNB back up above the 20 day EMA.
Solana price prediction
Solana (SOLOn Monday, the price of () fell and the pattern broke down below the upward trend line. This indicated that uncertainty was resolved to the benefit of the bears.
SOL/USDT may fall towards the support level of $155 as a strong resistance. A rebound from the $155 mark is likely to be met with selling near the 20-day EMA (190). The Solana market price could drop as low as $137 if the 20-day EMA ($190) is reached.
If the price increases from its current level of $155, this indicates that demand is at lower levels. The bulls would then push the price over the 20 day EMA. The pair may rise above the resistance line if they are successful.
Related: Here’s what happened in crypto today
Dogecoin price prediction
DogecoinDOGE( ) has been stuck in a wide range of $0.14 to $0.29 over the last few days.
This pair of DOGE/USDT is predicted to drop to $0.14. The solid support is expected to draw buyers. Price rebounding off $0.14 and rising above moving averages suggests range-bound trading may continue.
The sellers will likely have different plans. The sellers will try to lower the Dogecoin value below the support of $0.14 and continue the downward trend. They could take the price down to $0.10.
Cardano price prediction
Cardano buyers attempted to maintain CardanoADA(above the $0.59 mark, but on Monday the bears resumed their sales.
Bears are attempting to bring the ADA/USDT to the critical support level of $0.50. It is likely that buyers will defend this level with vigor, because a move below would lead to a drop to $0.40.
Bulls need to push the Cardano Price above the 20 day EMA ($0.64) in order to get stronger. After the breakout level, the pair may rally towards $0.75. This is where the bears will likely step in.
Hyperliquid price prediction
Hyperliquid (HYPE), a stock that trades on the NYSE, fell Sunday below its 20-day EMA of $42.73, a sign the bears have not let up.
The HYPE/USDT currency pair is now at the neckline. It could further decline towards the strong support of $35.50. The $35.50 support level is expected to be aggressively protected by buyers, since a breach below this could speed up the selling. Hyperliquid’s price may then fall to $30.50, and eventually to $28.
If the price rises sharply and the 20-day EMA is broken, this signals a demand for lower prices. It could swing from $35.50 up to $52 over a period of a few weeks.
The article is not intended to provide investment advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.
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Source: cointelegraph.com
