23rd Nov - Crypto Technical & Market Watch
Bitcoin has broken below the critical support at $7,337.78, is a bearish sign as it resumes the downtrend. If the bears can sink the price below the support line, a drop to $5,533.90 is possible. We suggest traders to wait before taking any trades.
Ether plummeted below the $161.056 to $151.829 support zone. This triggered our suggested stop loss on the long positions. A break below $151.829 is a bearish sign because it resumes the downtrend in the ETH/USD pair. The next stop is likely to be $120.We expect the recovery attempt to hit a wall at the previous support turned resistance zone of $151.829 to $161.056.
XRP has declined close to the critical support at $0.22.If the next downturn breaks below $0.22, a drop to $0.18 is possible. The XRP/USD pair might remain range-bound for a few more days. We will wait for signs of buying to emerge before recommending a trade.
The bears are attempting to defend the support at $203.36.If this support breaks down, the next support at $166.98.As the sentiment is to sell the rallies, we will wait before recommending any trade.
Disclosure: The author holds no cryptocurrency at the time of writing.
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