Price Predictions 11/26: BTC, ETH, XRP, BNB, SOL, DOGE, ADA

DOGE is gearing up for another significant uptick following the previous day’s recovery. However, it is not off to a strong start.

The asset is experiencing slight volatility in the first half of Wednesday. As a result, DOGE has yet to register any notable price change.

Nonetheless, the global cryptocurrency market was seeing the same trend amid reduced trading volume. The current market state may suggest investors were biding their time in anticipation of data releases in the coming hours.

However, the 1-day chart shows that market sentiment remains strong. The sector’s value tested Tuesday’s high but retraced and is trading at its opening price. For the first time in four weeks, the global cryptocurrency market remains positive on the 1-week scale on the third day.

The market is reverting to its previous trend of a significant pump on Wednesday and retracements the next day. If this is the case, several cryptocurrencies will experience notable increases in the coming hours.

However, the negative PCE and initial jobless claims came in positive, and prices are surging as a result. It remains to be seen how this data will affect prices in the coming days. Nonetheless, let’s examine how some assets in the top 10 may perform.

BTC/USD

BTC prints another red candle following the previous day’s performance. Although it prints a doji, it raises concerns about the next price action. If prices remain unchanged on Wednesday, it may signal dwindling buying pressure as the asset edges toward its second day without significant increases.

However, the 4-hour chart shows that the ongoing price action could lead to a breakout. A closer look at the chart indicates that the apex coin has not registered any notable volatility since the day started. As a result, indicators are flipping bearish.

The bollinger bands are at their narrowest in weeks due to low volatility. BTC is also trading at the SMA, indicating an impending breakout but no clear direction.

However, the moving average convergence divergence is printing bearish signals at the time of writing. The 12 EMA and 26 EMA are close to a negative crossover if the current trend persists.

Since Monday, Bitcoin has traded above the 23% fib level. Recent price action suggests consolidation around this mark, but the risk of further slip remains high. Losing this mark may result in retesting $83k. Conversely, a surge will see the asset break above $92k.

ETH/USD

Ethereum continues to grapple with reduced buying pressure on Wednesday after retesting its five-day high. Tuesday was no different: the asset retraced to a low of $2,854, then rebounded and ended the day at its opening price. ETH is edging closer to a similar close as it prints a doji.

The 4-hour chart depicts negative signals that may play out in the coming days. It is worth noting that the altcoin broke out of the bollinger bands on Monday. It has since been rangebound, trending between the upper and middle bands.

Ethereum tested the SMA again a few hours ago, but rebounded. MACD suggests that the stay above the mark may not last long. The asset will slip below $2,800.

XRP/USD

XRP is trading $2.23 at the time of writing, recovering from a previous plummet to $2.14. The asset has yet to register any significant price change on Wednesday, as it grapples with conditions similar to those of the previous day. 

Like DOGE, it had no notable price change on Tuesday, ending its two-day surge. However, indicators are flipping negative following trading action over the last 48 hours. 

On the 4-hour chart, the altcoin bounced off the middle band during the previous session and is currently up by almost 3%. Nonetheless, MACD recently had a bearish crossover, hinting at an impending correction. On the other hand, XRP may retest $2.30 before resuming its decline.

BNB/USD

BNB is experiencing its biggest surge in the last three weeks. It opened the day at $862 and peaked at $894. A closer look at the candle representing current trading action shows no wick extending above the top, suggesting the uptick is ongoing.

The 4-hour chart indicates that most of the increases occurred in the session starting at 16:00 UTC. It experienced reduced volatility during the first half of Wednesday, like DOGE. However, the latest increase raises several concerns.

It is worth noting that the asset broke above the bollinger bands a few hours ago. A significant decline may follow such a breakout.

SOL/USD

Similar to DOGE, Solana failed to register any significant increase during the first half of Wednesday. Nonetheless, upward momentum picked up a few hours ago. The current candle on the 4-hour chart shows that the asset gained a whopping 5% in the last 3 hours.

The asset is edging closer to its third day of consistent green. Up by almost 4%, the altcoin recovered from its decline to $135 and currently trades at $143.

However, the bollinger bands blare warnings amid the recent increase. SOL bounced off the middle band a few hours ago and broke above the upper band. Aside from the BB, RSI is fast approaching 70.

DOGE/USD

A close at the current price will mark DOGE’s fifth consecutive day of gains. It recovered from an earlier plummet to $0.148 but trades at $0.158 at the time of writing. The asset is experiencing stronger buying pressure than on Tuesday.

However, the current price indicates that it is trading above its bollinger bands. This is a sign of an impending trend reversal, given that Dogecoin has been on an uptrend since Saturday.

Nonetheless, previous price movements point to a slim chance that the upward trend may continue. If that happens, its next target will be $0.160.

ADA/USD

Cardano recently tested Monday’s but is facing slight selling pressure. Its recent surge follows its recovery from a decline to $0.41. Nonetheless,  a close at the current price will see the asset register a 3% increase.

However, the bollinger bands blare warnings amid the recent increase. SOL bounced off the middle band a few hours ago and broke above the upper band. In the event of correction, the asset will retest $0.40.

Previous price movement also increases the likelihood of a decline, given significant selling congestion at $0.44. Nonetheless, flipping the mark may send ADA as high as $.48.

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