Here Are This Week's Most Significant Digital Currency NewsScroll Down
This week's information shows that the current rally of Bitcoin is driven by more participation from retail and institutional investors. There's more interest, and its spot volume has reached a 52-week high. Traders are also getting greedy and taking on a lot of leverage. This could lead to them closing their positions, liquidating and forcing a drop in Bitcoin value. Here's how the top cryptocurrencies fared for the week.
Bitcoin Bitcoin reached the $16,000 resistance on November 12. The next resistance point is $17,200. Traders will get cautious if it trends down to $16,000 again. If it trends up, the bull run could continue.
Ether Bulls are having a tough time with Ether resistance. They tried to get it to $488, but couldn't. The lower moving average is $426, and the upper resistance point is $520. It has bear trend going for it.
XRP/USD XRP has centered around a resistance level of $0.26 for two days. The bulls aren't in a hurry to close. This suggests it will increase in value. It might move to $0.30. If it drops, it could go down to $0.2295.
LINK/USD Chainlink is stuck at $13.28. The bulls are holding steady. Its next target is $19.27.
BCH/USD Bulls bought BCH at $257. They couldn't sustain it and sold. Bears started buying around $247. The next support is $231.
LTC/USD LTC moved past the $64 resistance on November 13. The price could go to $68.90 if the bulls can keep up the trend. The lower support is around $57.85.
BNB/USD BNB is stuck between $27.30 and $28.97. The bulls might get it up to $30. The next upper resistance is $32.
DOT/USD DOT dropped from its high of $4.63, which it reached on November 11. It defended its value and did not drop to the lower support of $4.31. Data shows bulls have control. It could move between $4.50 and $4.95 over the coming week. The lowest price support the bears could push it to is around $3.80, but that will require bears to put in a lot of effort.