Bitcoin and other cryptocurrencies had been falling throughout the previous week. The price of cryptocurrencies has fallen this week. As cryptocurrency prices approach the oversold area of the market, their respective current supports have been shattered. The current decrease has the benefit of attracting purchasers to lower price points.
BTC/USD Major Trend: Bearish
Bitcoin’s (BTC) price is falling as it maintains a sideways movement beneath the moving average lines. The 21-day line SMA has rejected the price of the cryptocurrency. Below the $16,545 high, Bitcoin’s upward movement has been constrained. Before this, the price of Bitcoin was restricted to a small range between $15,588 and $17,000. Today, sellers drove the price of BTC down to as low as $16,430. On the downside, the bearish momentum will increase if the present support level at $16,000 is broken, taking prices as low as $15,588.
When the bears break through the important support level at $15,588, the second decline will begin again. Prices often fall to the lows of $14,100 and $12,200, where sellers succeed in breaking through the critical support. On the other hand, if buyers hold the key support level at $15,588, the BTC price would increase. A price recovery will propel Bitcoin above the $17,200 and $18,000 barrier levels. The upward trend will continue to a peak of $20,000.
SAND/USD Major Trend: Bearish
The Sandbox (SAND) has started drifting sideways again beneath the moving average lines. The price movement has not changed since November 9.
The altcoin has been ranging between $0.55 and $0.70 price levels. When these levels are broken, the sideways trend will come to an end. During the bearish trend on November 9, SAND made an upward corrective, and a candle body tested the 78.6% Fibonacci retracement line. According to the correction, SAND will drop but then rise to level 1.272 Fibonacci extension, or $0.45. The daily Stochastic is showing bearish momentum when it is below level 50.
MANA/USD Major Trend: Bearish
Decentraland (MANA) has hit bearish fatigue and is currently declining.
The oversold area has been reached by the cryptocurrency. There’s unlikely to be more selling pressure. On November 9, MANA tested the 78.6% Fibonacci retracement level using a candle body. According to the correction, MANA will decline but will reverse course at the level of the 1.272 Fibonacci extension, or $0.38. The Fibonacci extension is where MANA has reversed.
APE /USD Major Trend: Bullish
Apecoin (APE) price is in the positive trend zone as the price breaks above the moving average lines. Buyers are attempting to keep prices above the moving average lines.
If APE maintains a position above the 2 1-day line moving average lines, it will increase to a high of $5.00. APE will fall below the moving average lines if the buyers are unable to maintain the bullish momentum. The coin is at level 58 on the Relative Strength Index for period 14. It is in the uptrend zone and has room to grow even higher.
ENJ /USD Major Trend: Bearish
The price of Enjin Coin (ENJ) is falling as it breaches the existing support. The cryptocurrency has broken below the present support, moving into the oversold area of the market.
The alternative currency has retraced upward from the oversold area. On the downward trend of November 9, ENJ made an upward correction, and a candle body tested the 78.6% Fibonacci retracement. According to the correction, ENJ will drop to the $0.27 level of the 1.272 Fibonacci extension. ENJ is on a positive momentum above the daily Stochastic threshold of 40.
The price of the aforementioned cryptos has dropped significantly as they go closer to the oversold territory. Other coins have no possibility of recovering because selling pressure is still strong. You may maximize your profits by using a new coin called Dash 2 Trade (D2T), which provides trading recommendations and social analytics on-chain data. The FTX crisis emphasizes the need for a cutting-edge, sophisticated platform that can recognize disasters like FTX/FTT and enable traders to locate reliable trading signals for healthy returns. The platform’s presale has started, and its name is Dash 2 Trade (D2T). During the presale, about $7.5 million was generated. The D2T affiliate program is open to everyone. To make money, use the Dash 2 Trade referral network!
Dash 2 Trade – High Potential Presale
- Active Presale Live Now – dash2trade.com
- Native Token of Crypto Signals Ecosystem
- KYC Verified & Audited