Price analysis 11/29: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, SHIB

The crypto markets and the global disinterestedness markets staged a stiff recovery on November. 29 in spite of the dubiousness from the newly discovered Omicron variant of COVID-19.

Long-term investors seem to view the recent dip every bit a prime buying opportunity. A recent filing past MicroStrategy showed that the firm purchased 7,002 Bitcoin (BTC) at an average toll of $59,187. That boosted MicroStrategy's full stash to 121,044 Bitcoin, bought at an average price of about $29,534 per money.

*Daily cryptocurrency market place operation. Source:* *Coin360*

Still, analytics resource Material Scientist cited gild volume data to say that "a lot of Bitcoin liquidity has been taken" and warned that "stop hunters" may try to shake out the weak easily with a fall.

Is the current recovery a balderdash trap or is it the start of a sustained relief rally? Let's study the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

Bitcoin'southward relief rally is facing resistance at the 20-day exponential moving average (EMA) ($58,712). This suggests that sentiment remains negative and bears are attempting to sell on rallies to the overhead resistance level.

Although the 20-mean solar day EMA continues to slope downward, the RSI has risen to a higher place 46, suggesting that the surly momentum could be weakening.

The bulls will have to push and sustain the price higher up the l-day simple moving boilerplate (SMA) ($60,805) to signal that the corrective phase may be over. The rally could then challenge the overhead resistance zone at $67,000 to $69,000.

On the other hand, if the price turns down sharply from the 20-mean solar day EMA, the bears will try to suspension the stiff support at the 100-solar day SMA ($54,184). If that happens, the BTC/USDT pair could slump to the psychologically critical level at $50,000.

The bulls are expected to defend this level aggressively because a pause beneath it could consequence in panic selling. The pair could then slide to the next important support at $40,000.

ETH/USDT

Ether (ETH) rebounded off the neckline of the developing head and shoulders (H&S) pattern on Nov. 28, suggesting that bulls are defending the level with all their might. Sustained buying pushed the cost to a higher place the xx-day EMA ($4,316) on Nov. 29.

A break and close above the overhead resistance at $4,551 will indicate that the correction may exist over. The ETH/USDT pair could and then rally to the best loftier at $4,868. A break higher up this level volition invalidate the bearish setup and open the doors for a possible rally to $five,796.

Alternatively, if the toll turns down from the current level and breaks below the 50-24-hour interval SMA ($four,243), the bears will make ane more attempt to sink the pair beneath the neckline. A close below this level will complete the bearish setup and start a downward move.

The selling may accelerate below the 100-day SMA ($iii,794). The pair could so get-go its journey toward the blueprint target at $3,047.

BNB/USDT

The long tail on Binance Coin'southward (BNB) Nov. 28 candlestick indicates that bulls are buying the dips beneath the xx-day EMA ($595). The bulls volition now endeavour to push the cost to the overhead resistance zone at $669.30 to $691.80.

A break and close in a higher place $669.thirty volition complete an inverted H&S pattern. This bullish setup has a target objective at $828.60. The twenty-day EMA is trying to turn up and the RSI is at 56, suggesting that bulls are attempting to gain the upper manus.

The outset sign of weakness will be a break and close beneath the 20-day EMA. The bears will so try to sink and sustain the toll below the 50-24-hour interval SMA. Such a motion could result in a decline to the stiff back up at $510.

SOL/USDT

Solana (SOL) once once more dropped beneath the back up line of the symmetrical triangle on Nov. 28 merely the bears could not sustain the lower levels. This suggests aggressive ownership on dips.

The SOL/USDT pair broke to a higher place the 50-day SMA ($204) on Nov. 29 and the bulls volition now try to surmount the barrier at the 20-twenty-four hours EMA ($212). If they succeed, the pair could rally to the resistance line where the bears may pose a stiff challenge.

A pause and close higher up the resistance line will propose that the correction may exist over. The pair could and then rally to $240 and later to $259.90.

On the contrary, if the toll turns down from the twenty-twenty-four hour period EMA, the bears will again attempt to sink and sustain the pair below the support line. The selling could accelerate on a intermission and close below the 100-day SMA ($172).

ADA/USDT

Cardano (ADA) is in a downtrend. The price bounced off $1.41 on Nov. 28 but the bulls are struggling to sustain the higher levels.

The 20-day EMA ($one.78) continues to slope down and the RSI is near the oversold zone, indicating that bears are in command. If the price turns downwardly from the current level, the bears will attempt to sink the ADA/USDT pair below $1.40.

If they succeed, the downtrend could resume with the adjacent target objective at $1.20. The bulls volition accept to push and sustain the price above the twenty-day EMA to negate the bearish view. The pair could then rise to the potent resistance at $ane.87.

XRP/USDT

The long tail on Ripple's (XRP) Nov. 28 candlestick shows aggressive buying near the strong support at $0.85. The toll has reached the psychological level at $ane, which may now act as a resistance.

If the price turns downward from the current level, it will advise that the bears have flipped the $1 level into resistance. The XRP/USDT pair could then drop to $0.85. A break and shut below this level will signal the showtime of a deeper correction to $0.70.

Alternatively, if the price rises above $one, the pair could rally to the 20-solar day EMA ($1.05). This level could again human activity equally a stiff resistance but if bulls overcome this hurdle, the pair could rally to the 50-24-hour interval SMA ($1.10).

DOT/USDT

Polkadot (DOT) bounced off $32.21 on Nov. 28, indicating that bulls are attempting to defend the potent support at $32. The recovery is facing selling at the 100-day SMA ($37.16) suggesting that bears are selling on relief rallies.

If the price turns down from the electric current level or the breakdown level at $38.seventy, the bears will attempt to extend the turn down. A break and close below $32 could get-go the side by side leg of the downwards move that may accomplish $26.

The 20-day EMA ($twoscore.41) continues to slope down and the RSI is in the negative zone, suggesting that bears have the upper hand. The bulls will have to push and sustain the DOT/USDT pair in a higher place the breakdown level at $38.70 to invalidate the bearish view.

Related: Binance resumes DOGE withdrawals days after Elon Musk's comments

DOGE/USDT

Dogecoin (DOGE) bounced off the $0.19 back up on November. 28, suggesting that bulls are accumulating at lower levels. The buyers pushed the toll above the $0.21 overhead resistance on Nov. 29 but could not clear the hurdle at the 20-day EMA ($0.22).

The long wick on Nov. 29'south candlestick indicates that sentiment remains negative and traders are selling on rallies. If the cost sustains below $0.21, the bears volition make one more than endeavour to pull the price below $0.xix. If they practice that, the DOGE/USDT pair could plummet to the support at $0.xv.

Opposite to this assumption, if bulls push and sustain the price above the 20-day EMA, it volition betoken a change in the curt-term trend. The pair could then rise to the 100-day SMA ($0.24) and pick upwards momentum if this resistance is crossed.

AVAX/USDT

Avalanche (AVAX) bounced off the 20-day EMA ($106) on Nov. 27 and again on Nov. 28 but the bulls are struggling to sustain the rebound. This indicates that demand dries up at college levels.

The shallow rebound increases the possibility of a break below the 20-day EMA. If bears sink the price beneath the xx-day EMA and the $100 support zone, the selling could intensify. The AVAX/USDT pair could then drop to the 61.8% Fibonacci retracement level at $91.39.

Conversely, if the toll rebounds off the back up zone, the bulls will once again endeavor a recovery. If buyers propel the price above $120, the pair could rise to $130. A break and shut above this resistance could open up the doors for a retest of the all-fourth dimension high at $147.

SHIB/USDT

SHIBA INU (SHIB) has been trading below $0.000040 for the past iii days but the bears have not been able to capitalize on this weakness and pull the toll to the 100-day SMA ($0.000027). This indicates a lack of sellers at lower levels.

If bulls drive and sustain the price in a higher place $0.000040, the SHIB/USDT pair could rise to the 20-twenty-four hours EMA ($0.000044). This level is again likely to act as a potent resistance. If the price turns down from this level, it volition indicate that sentiment remains negative and traders are selling on rallies.

The bears volition then brand i more endeavor to sink the price beneath $0.000035 and resume the downtrend. This negative view will invalidate in the short term if bulls push and sustain the price to a higher place the l-day SMA ($0.000046). The pair could then rally to $0.000052.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You lot should comport your own research when making a determination.

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