opinion | Biz Builder Mike

Litecoin Price Prediction: LTC/USD Faces Rejection at $76 as Bulls and Bears Contemplate the Next Move

November 18, 2020 by bizbuildermike

Litecoin (LTC) Price Prediction – November 18, 2020

LTC/USD breaks $68 overhead resistance as price reaches the previous high at $76. The upward move has been impeded as the price reaches a high of $76. Presently, LTC is fluctuating between $70 and $76 as bulls and bears wait for the next move. The LTC/BTC has resumed downward move after rejection at Ƀ0.004500.

LTC/USD Market
Key Levels:
Resistance Levels: $80, $100, $120
Support Levels: $50, $40, $20

Litecoin is trading at $73 after retesting the previous high at $76. LTC is consolidating above $70 as they fail to break above the $76 resistance. Presently, BTC is fluctuating between $70 and $76. On the upside, if the price breaks the $76 resistance, the upward move will resume. LTC will rise and possibly reach the February price level of $80. The bears take advantage to break the support at $70 if the bulls fail to break into previous highs. Conversely, the bears will attempt to push LTC below the $68 support by breaking the $70 support. Subsequently, the price will fall to a low at $64. Meanwhile, LTC is trading at $73 at the time of writing.

Litecoin Indicator Analysis
The crypto price is at level 69 of the Relative Strength Index period 14. The coin was earlier in the overbought region but has fallen to the uptrend zone. It indicates it is capable of rising. The price bars are well above the SMAs which indicates a possible rise of the coin.

On the LTC/BTC chart, November 16 uptrend was terminated at level Ƀ0.004500. The retraced green candle tested the 50% Fibonacci retracement level. It indicates that the market will fall to level 2.0 Fibonacci extension or Ƀ0.003743. The coin is below the 25% range of the daily stochastic which indicates that it is in a bearish momentum.

Litecoin Price Prediction: LTC/USD Faces Rejection at $76 as Bulls and Bears Contemplate the Next Move

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Bitcoin Price Prediction: BTC/USD Trades Above $17,800 Level; What Next?

November 17, 2020 by bizbuildermike

Bitcoin (BTC) Price Prediction – November 17

BTC/USD is up by more than 5.19% as the price struck a sudden and bullish price spike above the $17,800 resistance level.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $18,600, $18,800, $19,000

Support Levels: $16,000, $15,800, $15,600

The daily chart reveals that BTC/USD is flexing muscles above the critical resistance level. The coin moves above $17,700 to touch the daily high of $17,880 but now trading at $17,595 at the time of writing. The first digital asset is moving with strong bullish momentum above the 9-day and 21-day moving averages after a sustainable break above an important technical level.

What to Expect from Bitcoin (BTC)

As the Bitcoin breaks above the upper boundary of the channel, the return above $17,800 could set the framework for gains towards $18,200. Meanwhile, the technical analysis shows that the bulls are ready for another action especially when the up-trending RSI (14) is considered. Any further bullish movement above the daily high could pave the way for gains above $18,500. Other resistance levels may be located at $18,600, $18,800, and 19,000.

On the other hand, if the price falls back below the $17,000 level, breaking below the moving averages may cause the bears to wrestle out the control over the situation very quickly. This may likely serve as a major blow for the market sentiments as traders could interpret it as a sign of underlying weakness. The next important support may come at $16,500 while other supports may be located at $16,000, $15,800, and $15,600.

BTC/USD Medium – Term Trend: Bullish (4H Chart)

Looking at the 4-hour chart, the price of Bitcoin (BTC) is currently trading around $17,698 above the 9-day and 21-day moving averages. However, the 4-hour chart shows that the bullish supply is still very strong in the market while the bears are also trying to bring the price down.

Meanwhile, if the buyers could put more pressure, they can further push the price above the $18,000 resistance level. Therefore, breaking the mentioned resistance could allow the bulls to hit another resistance at $18,300 and above. In other words, the RSI (14) is currently moving within the overbought region, leaving this zone could push the market price to the support level of $17,200 and below.

Bitcoin Price Prediction: BTC/USD Trades Above $17,800 Level; What Next?

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Ripple Price Prediction: Despite Touching $0.277 High, XRP/USD Faces Rejection at the Important Level

November 15, 2020 by bizbuildermike

XRP Price Analysis – November 15

The Ripple price is currently facing selling pressure below the $0.270 resistance level.

XRP/USD Market

Key Levels:

Resistance levels: $0.285, $0.290, $0.295

Support levels: $0.250, $0.245, $0.240

XRP/USD is slowly declining below key the support of $0.270 after touching the daily high of $0.277 in the early trading session of today. The Ripple price might revisit the $0.260 support before it could start another increase. After struggling to stay above $0.270, Ripple started a slow and steady decline as the coin trades below the key $0.268 support level to move into a short term bearish zone.

Would Ripple (XRP) Go Up or Down?

XRP/USD is currently changing hands at $0.264 and any attempt to make it cross below the 9-day moving average may open the doors for more downsides and the price could spike below the $0.255 support level. However, any bullish movement may likely cross above the upper boundary of the channel at $0.260 before creating a new bullish trend at the resistance levels of $0.285, $0.290, and $0.295.

Moreover, the market may experience a quick buy once the trade reaches the support at $0.260. And should the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunity for traders, which might cause the price to drop to $0.250, $0.245, and $0.240 support levels respectively. The RSI (14) is likely to cross below the 60-level. Should in case the price faces the downtrend, Ripple (XRP) may fall further.

Against Bitcoin, XRP is currently trading at the 1677 SAT and it is now trading above the 9-day moving average. If the above-mentioned level could serve as market support, the price can be pushed up above the channel and move towards the resistance levels of the 1900 SAT and above.

However, if the bulls fail to push the price to the nearest resistance, the market may begin another downtrend and the pair could probably record further declines at the 1600 SAT. Breaking this level could push the market to the nearest support levels, at 1400 SAT and below. Meanwhile, the RSI (14) is facing the north to give bullish signals.

Ripple Price Prediction: Despite Touching $0.277 High, XRP/USD Faces Rejection at the Important Level

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