This week, Bitcoin and most major altcoins have spent time below resistance levels, with whales continuing to sell in rallies. Ki Young Ju, CEO of CryptoQuant, says whales are piling Bitcoin on exchanges and exchange reserves are at their lowest level since mid-2018. At analytics firm Glassnode, he said long-term investors can “reduce spending” and are therefore more likely to add. For key levels, we take a look at analyst Rakesh Upadhyay’s technical analysis for DOGE, AVAX, BTC and 7 altcoins.
BTC, ETH, BNB, SOL, ADA technical analysis
- BTC bulls stopped the decline around $55,000 before the latest recovery. If the price drops below $55,317, selling could intensify and BTC could slide back into the $52,500 to $50,000 support zone. On the upside, the bulls’ first target is $60,084.
- Ethereum (ETH) rallied near the neckline of the head and shoulders formation that developed on November 22. If the price drops below $4,169, the bears may seek the pattern target of $3,047. Key resistances on the upside are located at $4,451 and $4,772 and $4,868.
- Binance Coin (BNB) fell from $605.20 on Nov. 21 to below $584. Important resistance levels are at $669.20 and $691.80.
- Solana (SOL) fell below $219 on November 22. Critical supports are $153 and $140. The first target on the upside is $259.90.
- ADA bulls are trying to protect the $1.50 support. According to the analyst, the uptrend can start after $1.90.
XRP, DOT, DOGE, AVAX technical analysis
- Cryptocoin. com The XRP price, whose analysis we shared, recovered the psychological support from $1 on November 23, but the bulls could not push the price to $1.10. Critical support is $1 and $0.85. On the upside, $1.12 and $1.24 await.
- Polkadot (DOT) recovered from the uptrend on November 23 but failed to continue. If $37.53 is broken to the analyst, the price could drop to $26. The critical resistance level is $43.56.
- Critical supports at Doge are $0.21, $0.19 and $0.15. It is targeting $0.24 on the upside.
- AVAX found resistance at $147 ATH. Critical support is $112.63. On the upside, bulls may aim for ATH.
- Crypto. com Coin (CRO) has been in a strong uptrend for the past few days. The first major support is $0.73, then $0.59. If the price exceeds 0.93, the bulls can resume the uptrend.