“`html Cryptocurrency Price Analysis: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, MATIC
BlackRock’s registration of the iShares Ethereum Trust has raised hopes for an eventual Ether (ETH) spot exchange-traded fund. News of the possible spot Bitcoin ETF greenlight by the U.S. SEC in 2024 has market observers upbeat. Galaxy Digital’s founder predicts that the approval of these ETFs will boost institutional adoption in 2024.
Bitcoin Price Analysis
Bitcoin’s price surged above the ascending channel pattern, facing profit-booking at higher levels. The RSI in the overbought territory indicates maintained buying pressure. A potential rebound may push the price to $40,000 again. A dip back into the channel could indicate a rejection of higher levels, pulling the price down to the 20-day EMA ($34,240).
Ether Price Analysis
Ethereum broke the psychological resistance of $2,000, entering overbought territory. A move above $2,200 could lead to a rise to $2,950, while a dip below $2,000 could weaken the momentum.
BNB Price Analysis
BNB witnessed dip buying on Nov. 9, targeting the overhead resistance at $265. A breach could push the price to $285 and potentially to $310. The 20-day EMA ($235) remains a critical support level.
XRP Price Analysis
XRP turned down from $0.74 and broke below the $0.67 support, suggesting profit-booking. The rising 20-day EMA ($0.61) and positive RSI indicate bullish sentiment. A rebound could see a climb to $0.85, while a break below the 20-day EMA might lead to a correction to $0.56.
Solana Price Analysis
Solana nudged above the overhead resistance of $48, implying a possible uptrend to $60. However, the overbought RSI indicates a potential correction or consolidation.
Cardano Price Analysis
Cardano pierced the overhead resistance at $0.38, aiming for $0.42 and $0.46. A turnaround from $0.38 may lead to a slide to the 20-day EMA ($0.32).
Dogecoin Price Analysis
Dogecoin showed indecision with a long wick and tail on the candlestick. A hurdle at $0.08 could lead to a push to $0.10, while a breakdown below the 20-day EMA ($0.07) might mean consolidation within a range.
Toncoin Price Analysis
Toncoin closed above $2.59 but slipped back below it. The 20-day EMA ($2.29) serves as support, with a potential target of $4.03 if the bulls can break above the overhead resistance zone.
Chainlink Price Analysis
Chainlink could slide to the 50% Fibonacci retracement level of $13.24, rebounding off this level to push the price to $15. However, a drop below $13.24 might indicate a potential decline to the 20-day EMA ($11.94).
Polygon Price Analysis
Polygon’s rally faced selling near the overhead resistance at $0.89. A dip to the 38.2% Fibonacci retracement level of $0.76 could signify a potential rally above $0.89, completing a double bottom pattern with a target objective of $1.29.
This analysis does not offer investment advice, and readers should conduct their own research before making any decisions. For further details, visit Cointelegraph.
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