Weekly trading signals for Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash SV (BCHSV), EOS, Stellar (XLM), Litecoin (LTC), Cardano (ADA), Monero (XMR), TRON (TRX): November 26

Trading Analysis

With over $63 billion loss in seven days in the crypto market, the bears may hold sway may continue in the new week ahead with bitcoin leading the pack.

BTC/USD

Trading Analysis
Dominant trend: Bearish
Supply zone: $6400, $7200, $8000
Demand zone: $3000, $2000, $1000

The bears had continued to take the cryptocurrency on a nice ride to the downside since the break down from the bearish pennant pattern on 14th November that saw the coin down to $5432 Confirmation to downtrend continuation occurred with the formation of an inverted hammer on 18th and subsequent drop to the weekly low at $3819.40 in the demand area on 24th November was BTC/USD around this demand area on 26th September 2017
With the stochastic oscillator in the oversold region at 6% and its signal points down, it implies a further downward movement in price as the bearish pressure becomes much stronger. The bears’ target is at $3377 in the demand area by measured move denoted by the blue arrow.

ETH/USD

Trading Analysis

Dominant trend: Bearish
Supply zones: $250, $300, $350
Demand zones: $70, $50, $10

After the bullish pullback from the hammer on 12th September to the 61.8 fib level at $255.00 in the supply area on 22nd September, the bulls lost momentum, and this had opened the gate for the anticipated massive drop in cryptocurrency price. This finally came when the 0-fib level was breaking on 19th November, and ETH/USD dropped to $147.22 in the demand area. Increased bearish momentum broke the 161.8 fib level at $125.00 on 22nd November

The retest of the broken fib level on 24th November as closed the week with a lower low at $111.15 was further confirmation to the downtrend continuation. The 261.8 fib level at $53.93 in the demand area maybe tested in the long-term

XMR/USD

Trading Analysis

Dominant trend: Bearish
Supply zone: $120.00, $140.00, $160.00
Demand zone: $20.00, $10.00, $05.00

XMR outlook shows a unique bearish trend continuation. The break of critical demand area at $85.25 with a large bearish marubozu candle on 19th November signalled the second level downtrend continuation as the cryptocurrency dropped to $72.12. Increased bears pressure led to another lower low at $59.00 in the demand area as the trading week ended on 24th November.By the same measured move from BREAK A to BREAK B with a pip drop of 6,526. Another drop may occur with the cryptocurrency making a retest at $20.29 in the demand area in the long-term price is below the 50 and 10-EMAs crossover, and they have fanned apart which implies strength in the context of the trend and in this case the downtrend.

XRP/USD

 Trading Analysis

Dominant trend: Bearish
Supply zone: $0.5000, $0.5500, $0.6000
Demand zone: $0.2500, $0.2000, $0.1500

XRP/USD resumes its downtrend in line with all other cryptos on 20th November after a large bearish candle broke the 50-EMA pushed XRP/USD price down to $0.4118 in the demand area. After that, the bears had continued to take the cryptocurrency on the journey down south.
Breaking the critical demand area as the trading week ended on 24th November with a lower low at $0.3687 and subsequent retest was a milestone and confirmation to the downtrend continuation, the structure of the cryptocurrency is an M. the right leg is developing, currently at $0.3290. A retest of $0.2633 in the demand area is most probable as the bears’ pressure becomes much stronger.

ADA/USD

Trading Analysis

Dominant trend: Bearish
Supply zone: $0.0600, $0.0800, $0.1000
Demand zone: $0.0100, $0.0080, $0.0060

The sharp bearish pressure broke the key level at $0.06300 and closed below it on 16th November with ADA/USD down to $0.05990 and after that dropped to $0.04157 in the demand area after retesting. The week ended as ADA made an unprecedented drop to $0.03494 in the demand area on 24th November. The new week opening price at $0.04041 was lower than last week $0.06400 an indication of more sellers in the market to continue the downward push of the cryptocurrency price. With the price below the two EMAs and the stochastic oscillator in the oversold region at and its signal points down suggesting further downward momentum in price.

XLM/USD

Trading Analysis

Dominant trend: Bearish
Supply zone: $0.2400, $0.2600, $0.2800
Demand zone: $0.1000, $0.0800, $0.0600

A bounce to the upside occurred each touch of the XLM price at the $0.18300 critical demand level. The 4th touch as a matter of necessity must break the demand area. The breakdown occurred on 23rd November as the cryptocurrency made a lower low at $0.1538 with a large bearish candle as the trading week ended.The stochastic oscillator is in the oversold region at 7%, and it signal points down an indication of downward momentum in price on a long-term. The Price is below the two EMAs an indication of strong bear pressure. As more candles opened and closed below the EMAs at $0.1200 in the demand area may be attained.

EOS/USD

Trading Analysis

Dominant trend: Bearish
Supply zone: $5.000 $6.000, $7.000
Demand zone: $2.500, $2.0000, $01.500

EOS/USD remains in a bearish trend in its long-term outlook. The break of the critical demand area on 19th November signal resumption of the downtrend after series of a bullish pullback. The large bearish candle at $4.65 pushed price to $4.04 in the demand area $3.19 in the demand area was the low of the week as the day ended with another large bearish candle The signal of the stochastic oscillator points down which implies downward price movement of the cryptocurrency.The Price is below the 50 and 10 EMAs, and the EMAs are fanned apart which indicate strength in the trend and in this case the downtrend.

 BCHSV/USD

Trading Analysis

Dominant trend: Bullish
Supply zones: $100, $120, $140
Demand zones: $40, $30, $20

The double bottom formation $38.11 in the demand area returned the bulls. Confirmation to the bull’s takeover occurred with the bullish candle at $56.40 that broke out from the two EMAs. BCHSV/USD shoot up to $56.40 in the supply area.
The bullish pressure was sustained at the opening of this week trading session at as price was pushed further up at $83.70 in the supply area. The stochastic oscillator is in the oversold, and it’s signal points which imply upward price movement.
The bullish pressure may continue as the price is above the EMAs crossover with an initial target at $100.00 in the supply area. 

TRX/USD

Trading Analysis

Dominant trend: Bearish
Supply zone: $0.0200 $0.0250, $0.0300
Demand zone: $0.100, $0.0800, $0.0600

The cryptocurrency is in a bearish trend. The downward trend was started on 7th November with the formation of a bearish railroad at $0.02508 in the supply area. Confirmation to the bear take occurred on 9th with the close of the candle below the two EMAs as TRXUSD dropped to $0.02508 in the demand area. The momentum down south increased after each breakdown from the consolidation. The first consolidation denoted by CON1 dropped TRX/USD to $0.01257 in the demand area while the second CON2 is ongoing. The price fell to $0.01110 in the demand area earlier today. The EMAs are fanned apart which suggest strength in the context of the trend which a is the downtrend.

LTC/USD

Trading Analysis

Dominant trend: Bearish
Supply zone: $50.00 $60.00, $70.00
Demand zone: $20.00, $15.00, $10.00

LTCUSD is in a downtrend in the long-term outlook with the bears in charge of the market. The bearish engulfing candle of 19th November sustained the bears’ pressure which led to LTC/USD price down to in the demand area as the week ended with a new low at $29.04 in the demand area. A bullish pullback to the first or second line may occur, but the bears’ return may further drop the cryptocurrency price down in the demand area the stochastic oscillator supports this in the oversold region at 8%, and its signal points down which implies downward price movement.

By Azeez Mustapha

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