Price analysis 11/15: BTC, ETH, SOL, BNB, DOGE, XRP, ADA, SHIB, TON, AVAX

As a seasoned cryptocurrency investor with years of experience under my belt, I find myself constantly analyzing the market to identify potential opportunities for growth. Today, let’s delve into the current state of several popular altcoins and see if they’re worth adding to our investment portfolios.

On November 14th, Bitcoin (BTC) enthusiasts momentarily paused their buying spree, but they resumed on November 15th, driving the price close to $89,500. Michael Saylor, founder of MicroStrategy and a firm Bitcoin believer, told CNBC that he doubts Bitcoin will drop to $60,000 as some experts suggest. Instead, he anticipates Bitcoin reaching $100,000 before the year ends.

Matthew Sigel, head of digital assets research at VanEck, shared an optimistic outlook when he stated on CNBC that Bitcoin might achieve new peak values multiple times in the upcoming six months. His prediction suggests that Bitcoin could climb up to $180,000 by next year.

However, no bull market goes up in a straight line. Strong rallies are followed by sharp intermittent dips, which shake out the weak hands.

According to Jamie Coutts, the chief crypto analyst at Real Vision, a robust U.S. dollar isn’t beneficial for Bitcoin. Despite his optimistic outlook for the future, he advises caution in the immediate term.

Is it possible that Bitcoin might hit $100,000, or could a downturn occur instead? Are the alternative coins displaying any signs of slowing down? Let’s take a look at the graphs for the leading 10 cryptocurrencies to get some answers.

Bitcoin price analysis

On November 14th and 15th, Bitcoin showed a pattern known as an ‘inside day candlestick,’ which suggests that the market’s bulls and bears are undecided about its direction. This indicates a potential pause or indecision in the price movement.

In simpler terms, when the trend lines are rising and the Relative Strength Index (RSI) is in the overbought range, it’s a good sign for buyers. If the price exceeds $93,265 and closes above that point, it could mark the beginning of the next phase of upward movement towards the significant level of $100,000. The sellers might attempt to halt this growth at $100,000, but if the buyers remain strong, the price increase could potentially reach as high as $113,331.

If the price drops and falls below $85,000, there might be a significant sell-off for the BTC/USDT pair. This could potentially push the pair down to the 20-day exponential moving average, which is currently at $78,496.

Ether price analysis

The drop in Ether’s price has now reached approximately $3,028, a key level based on the 38.2% Fibonacci retracement, making it potentially enticing for purchasers.

Should the price increase from its current position, the bulls might try once more to overcome the resistance barrier set by the downward trendline. If successful, the Ethereum-to-Tether pair may potentially soar towards $3,800 and possibly even reach $4,084.

Contrarily, if the price falls below $3,028, it could indicate that sellers continue to exert their force. In such a case, the pair might slide down towards the 20-day Exponential Moving Average (EMA) at $2,887. This level may draw in potential buyers again.

Solana price analysis

Solana’s price continues to hold above the significant resistance point of approximately $210, suggesting that the buyers are attempting to change this level from a barrier to a foundation.

To trigger an upward trend, buyers might need to bid the price beyond $225 initially. The SOL/USDT pair may potentially surge towards $260, where it’s anticipated to present a significant challenge. For a potential rise to $304, buyers will have to successfully navigate past this barrier and clear the way for further growth.

Instead of expecting a continuation of the breakout, a decline in price and falling below the 20-day Exponential Moving Average (at approximately $192) might imply that the market is not accepting the initial surge. In this case, the pair could potentially drop towards the 50-day Simple Moving Average ($167).

BNB price analysis

As a researcher, I’m observing that the price of BNB seems to be stabilizing around its 20-day Exponential Moving Average (EMA) at approximately $604. This suggests that buyers are taking advantage of minor price drops, signaling potential bullish momentum.

To spark a fresh upward trend, the bulls need to push the price beyond the current resistance at around $667. If successful, the BNB/USDT pair might climb towards $722, but this level could act as a strong barrier again. However, if buyers manage to break through this level, the pair could potentially reach $810.

If the price keeps falling and drops beneath its moving averages, this could imply a weakening of the bullish trend. In such a case, the pair might decline towards the uptrend line.

Dogecoin price analysis

Dogecoin’s (DOGE) pullback is finding support near the 38.2% Fibonacci retracement level of $0.32.

A modest retreat in the price indicates that investors are not rushing to sell, as they believe the upward trend will persist. If purchasers manage to push the price above $0.44, the Dogecoin/Tether pair might ascend to $0.50 and potentially reach $0.59 thereafter.

If sellers aim to limit gains, they’ll need to push the price below $0.35. This could trigger a drop to $0.32, followed by a fall to approximately $0.29 – the 50% retracement level. Such a shift might imply that the pair has reached a temporary peak at $0.44 in the short term.

XRP price analysis

On November 14th, XRP (XRP) surpassed its previous $0.41 to $0.74 price range, suggesting the commencement of an upward trend.

The sharp rally has pushed the RSI deep into the overbought territory, indicating that the XRP/USD pair is at risk of a short-term correction or consolidation. The breakout level of $0.74 remains the key short-term level to keep an eye on. If buyers flip the level into support, the pair may surge to $1.07.

Instead, if the price dips and falls below $0.74, it could indicate that the market has chosen not to accept the breakout. In this case, the pair might drop down to the strong support level at $0.64.

Cardano price analysis

Cardano (ADA) turned up from $0.52 on Nov. 13, indicating aggressive buying on every minor dip.

On November 15, the bulls managed to drive the price beyond the $0.66 barrier, but they’re finding it tough to sustain these elevated levels. This indicates that the bears haven’t completely surrendered and are still selling during uptrends. If the price fails to close above $0.66, it might dip down to around $0.60.

Conversely, a move slightly above $0.66 might indicate a return to the upward trend. The ADA/USDT pair may then surge towards $0.77, a point where traders anticipate the bulls will face significant resistance from the bears once more.

Shiba Inu price analysis

The price of Shiba Inu (SHIB) has dropped to a crucial point, the 20-day Exponential Moving Average ($0.000021). This is a significant area to keep an eye on.

Should the price bounce back from its 20-day Exponential Moving Average, the bulls will make another effort to push the SHIB/USDT pair above the level of $0.000029. If they are successful in doing so, this would complete a significant bullish inverse head-and-shoulders pattern. Subsequently, the pair could potentially increase towards $0.000039 and then reach its projected target of around $0.000047.

If the price keeps dropping and falls significantly beneath its moving averages, this optimistic outlook may prove incorrect in the short run.

Toncoin price analysis

Toncoin (TON) has been successfully maintained above its average values by the bulls, however, they’ve yet to initiate a significant comeback.

If the cost increases beyond its current point and exceeds $5, it suggests that the bulls are attempting a resurgence. The TON/USDT pair might then climb towards $6, which is an important level to keep tabs on. Overcoming this hurdle could potentially propel the pair up to $7.

If the price falls beneath the moving averages, this could suggest that the bears are continuing to exert pressure. The bulls must then brace themselves and put up a strong fight at the $4.44 level, as a breach below it would confirm a bearish Head and Shoulders pattern. This could potentially trigger a decline towards $3.50.

Avalanche price analysis

As I, the researcher, observe, the value of Avalanche (AVAX) appears to be gradually descending towards its 20-day Exponential Moving Average (EMA) at approximately $29.31. This suggests that the price movement might stay confined within the ascending channel for a while, potentially offering limited opportunities for significant upside in the short term.

As a crypto investor, if I observe a strong rebound from the 20-day Exponential Moving Average (EMA) for the AVAX/USDT pair, it could potentially pave the way for another attempt to reach the resistance line. A breakthrough and closing above the current channel would suggest the initiation of a new upward trend, pushing prices towards $42 initially, and potentially even towards $50 later on.

If the price keeps falling and drops beneath its moving averages, this could indicate that the bears are gaining control. As a result, the pair might trend downward towards the lower boundary (support line) of the channel.

2024-11-15 21:56