Price Analysis 11/19: BTC, ETH, BNB, XRP, ADA.

The prices of most assets, especially BTC, were stagnant over the last six days. It’s safe to say the crypto market is back to the little volatility era. The timeframe for this situation is unknown as the sideways trend may last longer.

This also reflected in the global cryptocurrency market cap. It opened at $825 billion and dipped to a low 0f $802 billion. Following this dip, it recovered and peaked at $854 billion. It mostly ranged between $822 billion and $840B.

On the part of fundamentals, there were several positive stories. El Salvador takes its BTC stacking to the next level. It vowed to purchase at least one daily. Binance CEO said his firm would’ve sold its FTT bag a long time ago.

There is also further evidence implicating FTX CEO. The latest was that he took $300 million from an investment round. With a brief overview of the market, let’s see how some coins in the top 10 performed.

BTC/USD

Bitcoin was trading sideways for most of the week. It failed to record any notable changes throughout the last five days. For example, on Monday BTC had its longest candle for the week. It flipped $17k as it peaked at $17,130.

However, it had very little impact on prices as the coin failed to record any notable gains or losses. The low volatility continued into the next day as we noticed a smaller candle but also a green.

Bitcoin also gained a little stability above $17k but failed to register any significant increase or losses. The first red candle of the week came on Wednesday as the coin lost a few percent.

The next three days were marked with minimal movement. We may conclude that the top coin has never experienced this level of inactivity since it became a tradeable asset. In total, it barely register any increase as many may draw similarities between it and a stablecoin.

On average, BTC moved by 0.30% during the timeframe under consideration. A look at the weekly chart showed that the apex coin may end the present intraweek session with no notable losses or gains.

A look at the indicators shed more light on the present situation of the market. One such is the Moving Average Convergence Divergence. As a result of the most recent market conditions, the 12-day EMA and 26-day EMA are seeing a steady downtrend.

The same phenomenon appears in the Moving Averages. The Relative Strength Index was also stable. It trended between 35 and 37. A look at the chart showed a straight line, representing the last three days.

ETH/USD

Ethereum was not exempted from the low volatility ravaging the market. It made its biggest moves during the first three days of the week. However, it failed to record any notable increases or decreases in price.

Like BTC, it had its longest candle on Monday as it peaked at $1,288. Nonetheless, it dropped to a low of $1,172. A closer look at the candlestick shows a very small body compared to some of the largest last week.

The next day was better as the asset held on to a fraction of its gain. However, it was insignificant but a green. Like most assets, Wednesday was marked with a small downtrend that saw the largest altcoin decrease in worth.

As with other days, it failed to register any gains or losses. However, the drop in volatility reached an unprecedented amount as the last three days were filled with minimal price movements. On average, it gained or lost less than 1%.

On the weekly scale, the low volatility also reflected. We noticed one of the smallest candles over the last three months. Nonetheless, many attribute the most recent state of the market to the rush for self-custody after the fall of FTX.

We see the effect of the decrease in trading volume on Indicators. The first on the list is MACD. Previously, we observed the massive downtrend in the metric as both the 12-day and 26-day EMA reduced their descents.

The 50-day MA and 200-day MA are also seeing the effect of the most recent state of the market. The sideways trend also shows on RSI. We observed that the indicator was trended between — and — during this period.

A look at the pivot point standard showed that ETH is still holding to the first pivot support.

BNB/USD

Binance coin also experienced a low trading volume across the market. A clear indication of this is the weekly chart. We observed a Doji representing the previous week’s price performance. Let’s go through a breakdown of what happened.

On Monday, it peaked at $291 but retraced to a low of $267. It closed at $278 after it opened trading at $278. Both price marks showed that the coin failed to record any notable increases during the intraday session.

We observed a similar movement as the asset under consideration returned to its previous high. Its advance slowly ground to a halt as it faced strong resistance at $282. The next was a repeat of this event.

Like BTC, the altcoin enjoyed more price stability during the first three days of the week compared to the rest. For example, the last three days were the most volatile of the period under consideration.

On Friday, the asset had its biggest hike of the week. It peaked at $274 after opening the intraday session at $267. It recorded gains of almost 3%. It lost momentum the next day as it retraced to the previous opening price.

With regard to indicators, we noticed slight movements. A look at the Relative Strength Index showed that it ranged between 45 and 38. Nonetheless, we observed that it’s on a downtrend, and the metric is gradually approaching 30.

The Moving Average Convergence Divergence is another metric on the downtrend. We noticed that both the 12-day EMA and 26-day EMA are gradually approaching their previous lows. We also noticed the same trajectory in the Moving Averages.

XRP/USD

Ripple had a measure of volatility compared to most assets in the top 100. It saw most of the price movement during the first three days of the week. On Monday, it surged from a low of $0.32. It peaked at $0.37  and closed with gains of more than 10%.

The increases continued into the next day as it made further progress. It tried testing the $0.40 resistance but failed after a strong rejection at $0.39. Nonetheless, it gained almost 3% in the end. However, like BTC, its first red candle was on Wednesday.

It dropped from $0.39 to a low of $0.36. It ended the intraday session with losses of more than 3%. The next three days were marked with little or no significant impact on prices. As a result, the asset failed to record any notable increases or decreases.

This changed on Sunday as the altcoin had its biggest price drop. It opened the intraday session at $0.38. It saw a little uptrend that saw it attempt flipping $0.40. Like the previous attempts, it failed.

It closed at $0.36 with losses of more than 6%. This loss erased a large chunk of XRP’s accumulated gains. Nonetheless, it ended the week with a price change of more than 5%. This makes it one of the top gainers in the top 10.

A look at the indicators may offer more insight into how prices performed over the last seven days. MACD saw more movements. The 12-day EMA surged close to the 26-day EMA. This is an indication of an impending bullish divergence.

The Relative Strength Index trended between 41 and 39. The asset under consideration attempted testing the 200-day Moving Average for the first time since losing it two weeks ago.

ADA/USD

Cardano is another asset that experienced low volatility over the last seven days. Starting on Monday, it retraced to a low of $0.31 but recovered. It peaked at $0.34 but closed with no significant gains or losses.

The bulls built on the lead as it gained more stability above $0.34. However, it dipped and failed to record any notable price changes. Like most cryptocurrencies, it had its first of the week on Wednesday.

It had a repeat of what transpired the previous day. This time, it was a red candle as the asset dipped by a few percent. It had a deeper low as it retraced to a low of $0.32. Further dip the next day as it lost the $0.32 support.

The next two days were marked by consistent low trading volume. As a result, it failed to record any notable price increases or decreases during the period under consideration. This changed on Sunday as it experienced massive retracement.

It dipped to a low of $0.30. This was the largest candle on the chart and the altcoin biggest move of the week as it lost more than 4%. On the weekly scale, it lost more than 5% of its value.

The Moving Average Convergence Divergence continued its downtrend with no change in trajectory over the last seven days. We also saw the same sentiment on RSI as trended around 38.

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  • bitcoinBitcoin (BTC) $ 16,409.03 1.51%
  • ethereumEthereum (ETH) $ 1,210.80 3.82%
  • bnbBNB (BNB) $ 298.93 1.67%
  • xrpXRP (XRP) $ 0.391853 2.58%
  • solanaSolana (SOL) $ 13.40 0.74%
  • terra-luna-2Terra (LUNA) $ 1.58 2.93%