Markets of major altcoins are teetering on the brink of a major collapse. Ripple for some time to serve as a refuge for kryptonsite.
XRP/USD
On the background of the next wave of sales of the cryptocurrency Aldon Ripple, obviously, became a refuge for the capital of a significant part of investors.
Due to the influx of new investment in the market a couple of XRP has firmly maintained its position above the level of the medium-term trend reversal. The November pivot on the daily chart XRP/USD has a value of $0,4792.
At the time of the review market Ripple to the United States dollar is trading at $0,5040. During afternoon trading the bears attempted to break through the price support at a key level and false breakout of pivot reached $0,4662.
However, the bulls once again confirmed the readiness to defend their positions, buying scriptactive on a local minimum rates in large volumes. So the quotes XRP/USD in a matter of hours back price of $0,5050.
The advantage of bulls is confirmed by the data of technical indicators. Moving average EMA200 supports the current Ripple price at $0,4990. The values of relative strength index is in the buying zone and from October 15 is not reduced below the 50 level on the chart RSI14.
Given the high probability of a larger global collapse of the stock market, suggest sales only Ripple on the breakdown of the first key support level of $0,3920.
Buy Ripple possible after the confirmation of breakout of the key resistance at $0,5666.
BCHABC/USDC
During the Asian trading period session, November 19, at the crypto currency exchange Poloniex quotes BCHABC has broken the support level reversal of the current trend. On the four-hour chart BCHABC/USDC pivot has a value of 260.40 USDC.
At the time of market analysis steam BCHABC/USDC USDC quoted 228,30. Session low price scriptactive recorded at the level of 218,50 USDC.
Currently, the bears are testing the support prices at the local level 222,40 USDC. In case of breaking the mentioned level, we should expect declines in cryptocurrencies until at least the first key support level of 117.00 USDC.
BCHSV/USDC
From the technical point of view the pair BCHSV/USDC is in a more vulnerable position than its direct competitor BCHABC/USDC.
At the time of market analysis BCHSV is trading below the first key level of support at $58,05 USDC, according to the stream of quotations of the exchange Poloniex.
Key level has a value on the price scale – 66,45 USDC, and currently for scriptactive it acts as a resistance level.
The local level of support prices BCHSV is around 50,40 USDC.
There is a high probability of break of the support at the above indicated level with a subsequent decrease in quotations to the level of prices 25,10 USDC, on the second key level of support.
LTC/USD
Session losses of litecoin made up 13.5% from the opening price of the day $42,56. During the current session, the price of Litecoin has recorded a new yearly low at $36,55.
At the time of the review of the market the pair LTC/USD is trading at $36,94. It is expected that after the retracement the price of litecoin will continue to decrease in the direction of the nearest bearish target $34,00, on a historical level of support.
Sale in a pair LTC/USD are recommended from the current value prices with order $35,70/$34,60/34,00.
Trading recommendations are not a reference to action. Following the recommendations, you assume all associated risk of loss.
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