Analysis of prices for BTC, ETH, XRP (11/17/21)

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BTC/USD

Yesterday morning, the bitcoin price consolidated in a sideways range, the upper border of which was the POC line (61193.02 USD), and the lower one was the psychological level of 60,000.00 USD.

During the day, the bears managed to pierce this psychological support and the pair fell out of the range, marking the November low at 58563.00 USD.

In the afternoon, buyers tried to bring the pair back to the sideways range and test its upper border, but tonight the BTC price again rolled back to the monthly low zone. As you can see, the psychological support level was unable to stop the fall in the market and now the third wave of a pullback awaits us.

After some recovery, one could hope for strong support of 58000.00 USD. However, given the high volatility of prices and the dominance of bears, most likely in the second half of this week, sellers will be able to continue to decline to the 78.6% fibo level (55287.64 USD).

ETH / USD

Sellers were able to pierce the 4300.00 USD support several times yesterday morning, and each time they tried to update the monthly low. In the afternoon, the Ethereum price broke through the support of 4200.00 USD, marking a minimum around the 4106.00 USD mark.

In the afternoon, buyers tried to restore the price above the support of 4300.00 USD, but tonight bearish pressure intensified and in the morning the November low was renewed to the level of 4065.00 USD.

We believe that during the day the pair will test the psychological support of 4000.00 USD. A small bounce is possible here. However, at the end of the week, we can expect a decline to the support of 3800.00 USD.

XRP/USD

Yesterday in the morning the XRP price dipped to the level of 1.100 USD, however, our hopes for this support did not materialize and the bears broke through it, setting the daily low at 1.041 USD.

In the second half of the day, the pair tried to recover, but the level of 1.100 USD was already acting as a powerful resistance, which buyers could not overcome.

On the daily time frame, the Stoch RSI indicator lines have just entered the oversold zone. There is still room for the downside potential for Ripple. We believe that by the end of this week the pair will drop below the psychological level of 1.00 USD.

* All prices are based on BitStamp data

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