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Saturday

05 December 2020

Price analysis 11/20: BTC, ETH, XRP, LINK, LTC, BCH, DOT, BNB, ADA, BSV

Price analysis 11/20: BTC, ETH, XRP, LINK, LTC, BCH, DOT, BNB, ADA, BSV


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In an interview with Cointelegraph, Nugget’s News CEO Alex Saunders said that Bitcoin’s price could rally to “$100,000 in the next five years” and if it becomes the global reserve currency, then it could reach $1 million by 2035.

If the bulls can propel the price above $20,000 in the current leg of the uptrend, the momentum could further pick up and make a blow-off top.

If they succeed, the XRP/USD pair could rally to $0.40.

If they can sink the price below $11.80, it will suggest that the current breakout was a bull trap.

The rising moving averages and the RSI above 66 suggest that the bulls are in command.

If the price sustains above $85, the rally may extend to $100.

The trend in the LTC/USD pair could turn negative if the bears pull the price back below the breakout level of $68.9008.

The overhead zone may act as a stiff hurdle but if the bulls can push the price above it, the BCH/USD pair could rally to $326.30 and then to $337.90.

If the buyers can propel the price above $5.5899, the DOT/USD pair may rally to $6.25 and then to the highs at $6.8619.

If they manage to do that, the pair could consolidate between $4.95 and $5.5899 for a few days.

On the other hand, if the bulls can thrust the price above the resistance zone, the pair could retest the all-time highs at $39.5941.

In that case, the bears will try to pull the price below the $27.30 support and if they succeed, the pair could drop to $25.6652.

If the bulls can drive the price above $0.1142241, the ADA/USD pair could start a new uptrend that can rally to $0.1280 and then to $0.1445.

The upsloping moving averages and the RSI in the positive zone suggest that bulls have the upper hand.

Traders can watch the RSI because a break above 60 could suggest that the rally may pick up momentum.

This shows that the bulls are accumulating at lower levels and they have pushed the price back above the moving averages today.

However, if the bulls can drive the price above $181, the pair could start a new uptrend that has a target objective of $216.

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cointelegraph.com
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