Any major changes in the market depend on the bulls and whether they decide to defend the strong support levels. Detailed analysis on each crypto helps to have an estimation of the next movements.
On Nov. 16, Bitcoin moved below EMA, $62,607. The buyers are defending SMA, $59,122. If the price falls below the 20-day EMA, the bears will push the BTC/USDT pair below $57,820. If they succeed, the pair’s net worth could drop below $52,500.
Ether fell below the ascending channel on Nov. 15. On Nov. 16, more selling occurred, bringing the price below the 20-day EMA of $4,439 for the first time.
The bulls are defending the 50-day SMA ($4,033). When the price falls from its current level, it indicates that traders are selling rallies. The ETH/USDT can drop to $3,600.
BNB fell below the 20-day EMA, $591, on Nov. 16 after turning down from the resistance at $669.30. On Nov. 17, the bears pushed the market near the 50% Fibonacci retracement level of $552.30.
If the price turns down from the 20-day EMA, then traders are selling on rallies. The pair could further fall to the 50-day SMA, $509.
On Nov. 16, SOL declined and fell below the 20-day EMA, indicating that the bulls are losing control. The buyers are attempting to hold the $216 breakout level. However, any bounce will almost certainly be met with selling at higher levels.
On Nov. 16, ADA broke below $1.87, but bulls did not allow further fall. The bulls are pushing the price back above $1.87. If the price falls below the 20-day EMA, the bears will sink the ADA/USDT pair below $1.75.
The bears were attempting to break through $1.24 resistance. On Nov. 16, the selling increased, and bears dragged the price down below the moving averages.
DOT failed to climb back above the 20-day EMA. The selling became intense, and the price fell below the 50-day SMA on Nov. 16, yet bulls continue to buy on dips. As a result, the pair could rise to the 20-day EMA.
Dogecoin made a significant move lower on Nov. 16 after trading between the moving averages for a few days. This means that supply is exceeding the demand level. The bulls are attempting to defend the support at $0.22. This pair can rise and hit $0.30.
On Nov. 14 and 15, the bulls tried to sustain SHIB above the 20-day EMA. The selling continued on Nov. 16 and pushed the price to below the 20-day EMA. This pair can rise above $0.000065 if the buyers can push and keep the price above the 20-day EMA.