Cryptocurrency Weekly Analysis

Weekly Technical Analysis of Digital Currencies November 5 (November 6)


Technical analysis of the price of Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Cardano, Binance Coin, Polkadot, Bitcoin Easy and China. Read the link for today (November 6) below:

Weekly technical analysis of bitcoin prices

Over the past few days, the bear market has not even managed to lower the price of Bitcoin to the 20-day moving average (EMA 20 – blue line in the picture) at $ 13,057. This shows that buyers are not in a hurry to close their positions. It may also be the reason for attracting another group of buyers and directing the price to its new record in 2020 in today’s candles.

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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The upward slope of the moving averages and the placement of the relative strength index in the buy saturation zone continue to indicate the superiority of buyers. With the price stabilizing yesterday above the level of $ 14,102, we can say that the next uptrend has begun. The next key price resistance is at $ 16,200.

However, the Relative Strength Index (RSI) is still showing a negative divergence. This factor is usually a valid sign of a slowdown. However, in a strong uptrend, such as what we see in the current state of Bitcoin, this signal will be delayed until the price drops enough down.

The bullish view of the price will be eliminated by turning it from the current levels and falling below the 20-day moving average (EMA 20 – blue line in the picture). Such a move would demonstrate the sellers’ efforts to return to the market. With the price moving below $ 12,460, the group will gain strength again.

  • Resistances: 16,200
  • Supports: 14,102 – 13,057 – 12,460

Weekly technical analysis of Ethereum prices

Buyers entered the market on November 3 as Ethereum prices fell to the uptrend line. Following this move, the price went above the downtrend line and resistance at $ 395 yesterday. This indicates that the short-term price correction is over.

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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The 20-day moving average (EMA 20 – blue line in the image) is high at the beginning of the spin. The Relative Strength Index (RSI) has also jumped to its positive territory. With these interpretations, there will be superiority with buyers. If the price moves above $ 420, it will be possible for the price to continue to rise to $ 450 and then to $ 488,134.

The uptrend will be eliminated by turning it from current levels or resistance above and falling below the simple 50-day moving average (SMA 50 – red line in the picture) at $ 372.

  • Resistance: 420 – 450 – 488.134
  • Support: 372

Ripple Price Weekly Technical Analysis

Buyers re-entered the market with the Ripple price falling on November 3 to support at $ 0.2295, but still failed to push the price above the moving averages. These factors indicate the strong defense of bears from this level.

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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The bearish slope of the 20-day moving average (EMA 20 – blue line in the picture) and the relative strength index (RSI) in the negative area warn of the dominance of sellers. If these people manage to lower the price below $ 0.2295, there is a possibility that the decline will continue up to $ 0.21712. Violation of this support will mean the continuation of the downtrend and the first support in this direction will be at $ 0.19.

On the other hand, if the price jumps from the current levels and moves above the moving average at $ 0.244, there will be a possibility of limited price fluctuations for a few days.

  • Resistances: 0.244
  • Supports: 0.2295 – 0.2171212 – 0.19

Weekly technical analysis of bitcoin cache price

The price of Bitcoin Cash has dropped to $ 231.93 on November 3. However, considering the high wicks of the price candle in the daily timeframe, it can be said that the buyers have entered the market with this price drop. In the last two days, buyers have entered this level again with the price falling again.

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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This strong jump in prices shows that the cows are defending this level with strength. However, the bearish slope of the 20-day moving average (EMA 20 – blue line in the picture) and the relative strength index (RSI) below 42, indicate the superiority of sellers. Buyers are likely to enter the price recovery up to this moving average of $ 255. If the price moves above or above the resistance level and moves below the $ 231.93 level, it will continue to fall to $ 210 and below $ 200.

This bearish view will be eliminated by increasing the price acceleration and moving above the 20-day moving average. In this case, there is a possibility of further price growth to $ 272 and $ 280.

  • Resistances: 255 – 272 – 280
  • Supports: 231.93-210-200

Weekly Technical Analysis of China Link Price

The price of China Link has gone below the uptrend line in the last two days, but buyers have entered the market up to the support of $ 9.7665. In the current situation, the bears will try to delay the pullback (price return) up to the 20-day moving average at $ 11 and above it up to $ 11.199.

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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The slope of both moving averages is upward and the relative strength index is below 44. Therefore, it can be said that sellers have the upper hand. If these people manage to lower the price below $ 9.7665, it will be possible to continue the fall to $ 8.3817 and below it to $ 6.90.

The price downtrend will be eliminated with the intensification of buyers entering the current jump and driving the price above $ 11.199. Such a move would increase the probability of price growth to $ 13.28.

  • Resistances: 11.199 – 13.28
  • Supports: 9.7665 – 8.3817 – 6.90

Weekly Technical Analysis of Binance coin Price

Binance coin closed below $ 28.43 on November 2. The move has activated the twin roof pattern with a target price of $ 24.86. In the current situation, buyers are trying to defend the support of $ 25,6652.

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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However, the bearish slope of the 20-day moving average (EMA 20 – blue line in the picture) and the relative strength index (RSI) below 37, warns that the downtrend will continue. If the bear moves below $ 25,6652, the downtrend will continue until the key support of $ 22.

The downside view of the price will be eliminated with the entry of buyers in the current fall and price movement above $ 28.43. With such a move, the price is likely to rise to $ 32.

  • Resistances: 28.43-32
  • Supports: 25.6652 – 22

Weekly technical analysis of LightQueen prices

Buyers entered the market on November 3 with a strong drop in the price of Litecoin to $ 51,2027. These people also supported the fall in prices today and entered buying positions. This can be seen from the long wicks of daily candles. Overall, the cows are defending the $ 51- $ 52.36 support area.

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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If buyers manage to stabilize the price above the 20-day moving average (EMA 20 – blue line in the picture) at $ 53, the price is likely to rise to $ 56.50. However, the horizontal slope of the 20-day moving average and the relative relative strength index (RSI) slightly above the mid-range indicate a balance between supply and demand.

If the price moves above the current levels, sellers will try again to lower the price below the support area. If such a move occurs, the selling pressure will increase and there is a possibility that the price will fall to the next price support at $ 46.

  • Resistances: 53 – 56.50
  • Supports: 52.36 – 51-46

Weekly technical analysis of Polkadot prices

The bears are trying to bring the price of Polkadot below $ 3.80. With such a move, there is a possibility that the price will fall to the key support of $ 3.5321. Falling prices under this support will lead to the beginning of a new downtrend.

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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The slope of both moving averages is downward and the relative strength index is fluctuating in the negative area. These factors lead to the superiority of sellers. With the price moving below $ 3.5321, there is a possibility that the price will continue to fall to $ 2.60 and below it to $ 2.00.

The bearish trend will be eliminated with the support of buyers in the support area of ​​$ 3.5321 to $ 3.80 and the move of the price above the moving average at $ 4.18 to $ 4.28. Such a move will lead to cross-price fluctuations in a few days.

  • Resistances: 4.18 – 4.28
  • Supports: 3.80 – 3.5321 – 2.60 – 2.00

Weekly Technical Analysis of Cardano Price

Cardano’s high-price wicks in the daily timeframe on November 3 show the downside of cows buying up to $ 0.0893. But yesterday’s price movements indicate that the price has not stabilized at higher levels

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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The bearish slope of the 20-day moving average and the relative strength index (RSI) in the negative area indicate the dominance of bears in the market. Therefore, there is a possibility that these people will enter the 20-day moving average with a pullback (price return). If the price moves below $ 0.08993, it is likely to continue to fall to $ 0.0755701.

The bearish view of the price will be eliminated by moving above the moving average at $ 0.0990. Under such circumstances, a price increase of up to $ 0.104044 and above $ 0.1142241 would be possible.

  • Resistors: 0.0990 – 0.104044 – 0.1142241
  • Supports: 0.08993 – 0.0755701

Weekly technical analysis of bitcoin price

The price of Bitcoin Swee jumped higher on November 3, and buyers are trying to jump the price again today from $ 146.12. These factors indicate the price accumulation trend in falling to the support area of ​​$ 135 to $ 146.20.

Weekly Technical Analysis of Digital Currencies November 5 (November 6)
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However, if buyers do not succeed in pushing the price above the downtrend line and the moving average at $ 164 in the next few days, sellers will try again to lower the price below the support area. In this case, there is a possibility of starting a new downtrend with a target of $ 100. The downward slope of the 10-day moving average and the relative strength of the relative strength index indicate the dominance of the downtrend over the uptrend.

  • Resistance: 164
  • Supports: 146.20 – 135-100

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