Ethereum

Crypto Price Analysis Nov-25, ETH, XRP and ADA, BNB and LTC

This week, we look closer at Ethereum, Ripple and Cardano, Binance Coin and Litecoin.

Ethereum (ETH)

Ethereum has failed to break the key resistance at $1,230 and has entered into a correction that appears to continue the bearish price action. ETH lost 0.8% in its valuation over the past seven days. However, sellers managed to hold the price steady.

Unfortunately for the bulls, they may have to defend ETH again at the $1,000 key support. This weakness could spell disaster for the cryptocurrency as falling to a three digit valuation will end all hope of a quick recovery from the current downtrend.

Looking ahead, Ethereum faces a challenging task as the sellers and buyers control the price action. The key support at $1,000 has to be defended since the alternative is a costly defeat. The volume continues to fall and remains firmly on the bearish side after 10 daily candles closed in red in the past 11 days.

ETHUSD_2022-11-25_13-03-09 — Chart by TradingView

Ripple (XRP)

XRP continues its strong performance despite market leaders like ETH and BTC struggling. It has increased 5.7% in the last seven days, which makes it stand out from other cryptocurrencies. After finding good support above $0. 30, it entered a sustained uptrend in the past three days.

The current resistance is located at $0. 45 and may put the bulls in a difficult position if they can’t break above. They continue to have momentum, but the volume is decreasing, and this could make it difficult for them to maintain their confidence in this rally. Bears can quickly profit from any weakness in the market, which remains volatile.

Looking ahead, XRP made a higher low last Wednesday, indicating a bullish trend. It is too early to celebrate until the price makes a higher high. Otherwise, the trend could quickly reverse. The bias for XRP is currently somewhat bullish, but it could change once the key resistance has been reached.

XRPUSDT_2022-11-25_13-15-57 — Chart by TradingView

Cardano (ADA)

Unfortunately, Cardano’s price action looks very grim with consistently lower lows over the past few months. ADA lost 4.2% in seven days because the downtrend was not stopped by bulls.

The current support levels are $0. 30 and $0. 28, while the resistance is at $0. 32 and $0.34. If ADA wants to stop the downtrend, it must break these resistance levels. Alternatives include a rapid fall to lower levels.

The main concern about Cardano is that altcoins could correct by over 90% from the all-time high during a bear market. Its price could plummet further if there is low confidence in a reversal. ADA’s bias remains bearish.

ADAUSDT_2022-11-25_13-21-37 — Chart by TradingView

Binance coin (BNB )

Binance Coin remains one of the strongest performers of this bear market, managing to maintain a price of around $300 despite repeated attempts to take it lower. Up by around 12% in the past seven days, BNB remains a leading performer.

The current support is found at $260, and the key resistance is at $300. The bulls tried to maintain the price above $300 in early November, but they could not sustain it.

Looking ahead, BNB appears to be moving in a tight range between $260 and $300. It is difficult to predict a major change in price action until one of these levels is broken. This makes the bias neutral.

BNBUSDT_2022-11-25_13-28-00 — Chart by TradingView

Litecoin (LTC)

The best performer on our list this week is Litecoin which surprised most of the market with an unexpected 22%. LTC also broke through its ascending triangle, making them one of few cryptocurrencies that actually made it higher in this bearish environment.

If the current support at $74 is successfully retested, then Litecoin could rally higher and aim to reach a three digits valuation (>$100). However, the resistance at just under $100 will be difficult to break, and the bulls may need the overall market to be in their favor if they are to be successful.

Litecoin has demonstrated that, as a proof-of-work coin that was released in 2011, it can still capture the attention of the market and outperform more recent cryptocurrencies such as Solana (est. 2020) or Tron (est. 2018), which are much more recent. The bias towards LTC is bullish and has a positive outlook for the future.

LTCUSDT_2022-11-25_13-37-13 — Chart by TradingView

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Disclaimer: Information found on CryptoPotato is those of writers quoted. This information does not reflect the views of CryptoPotato about whether to invest in, sell or hold investments. Before making any investment decision, you are strongly advised to do your own research. You are responsible for any use of the information. For more information, please refer to Disclaimer.

Cryptocurrency charts by TradingView.

Ethereum

Ethereum Price Analysis: ETH Gains 9% Weekly But The Road to $4K Has These Obstacles

Ethereum is showing strong bullish momentum, driven by an influx of buyers. However, as the price nears a significant resistance level at $4K, market participants should anticipate a period of consolidation with the potential for heightened volatility. Technical Analysis By Shayan The Weekly Chart Ethereum has experienced an impulsive uptrend…
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Ethereum

Selling ETH for BTC: Leading Chinese Gaming Firm Converts

Boyaa Interactive, a leading Chinese gaming firm on the Hong Kong Stock Exchange, has reallocated a significant portion of its crypto assets from Ethereum to Bitcoin.

As per a November 29 filing, the company reported converting 14,200 ETH into approximately 515 BTC in an open-market deal worth more than $49 million. The Ethereum had been acquired at an average cost of $2,777 per ETH, totaling $39.45 million.

Following the transaction, Boyaa now holds 3,183 BTC, with an average purchase price of $57,724 per coin.

The company emphasized that the move is in line with its strategy to expand its Bitcoin reserves, considering the market outlook for both Ethereum and Bitcoin. According to the board, converting existing Ether holdings into is a timely decision.

In March, Boyaa announced the approval of a $100 million initiative to allocate $45 million of corporate funds to Bitcoin, $45 million to Ethereum, and $10 million to stablecoins such as Tether’s USDT and Circle’s USDC.

The Hong Kong Stock Exchange-listed firm disclosed a $1 million investment in the UTXO Management Bitcoin Ecosystem Fund in July. UTXO, interestingly, is the asset management partner of BTC Inc., a key player in the Bitcoin ecosystem that owns Bitcoin Magazine and hosts the Bitcoin Conference.

The latest development as Bitcoin gains traction in corporate investment portfolios, with Rumble, the renowned online streaming platform, revealing its decision to diversify its cash reserves by investing in Bitcoin.

The company’s Board of Directors has authorized an allocation of up to $20 million in BTC, allowing for flexible purchasing. Similarly, Jiva Technologies, a wellness and plant-based e-commerce company, has also committed to Bitcoin, securing approval for a strategy involving investments of up to $1 million.

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Ethereum

Huge Bitcoin Volatility, Ethereum Picks Up Speed, Ripple Bull Run Goes On: This Week’s Crypto Recap

It was a crazy week in the cryptocurrency industry, filled with a lot of volatility, a resurgance that the entire community was debating about, as well as the story of the underdog coming back at it. Let’s dive in.

First, we have Bitcoin. Its price tried to breach $100K last weekend on numerous occasions, but it turned out that the sell wall there was just too big for the bulls to overcome. That ultimately took its toll, and the price crashed, reaching almost $90K during the week. That’s when things started to get funny. The sentiment was completely from less than a week ago when BTC breached $90K for the first time.

Nevertheless, the price didn’t spend much time at these lows as the bulls were quick to regroup and started pushing forward. At the time of this writing, BTC is trading at around $97K and many are already calling for $100K to be breached this time around.

Another interesting turn is Ethereum’s performance throughout the past seven days. Now, you have to understand that many in the community have been making fun of ETH for being the slow runner throughout this bull run and failing to keep up. This week, however, it’s up by more than 8% and it appears that it’s looking at it’s next target at $3.7K.

But the best performer of them all throughout the past seven days was Ripple’s XRP. The cryptocurrency has been on an absolute tear throughout the past month, and it has even managed to flip BNB for the spot of the 5th largest coin by means of total market capitalization, albeit marginally as of yet.

It’s interesting to see how things will turn in the next couple of weeks, but it appears that the market remains as heated as ever.

Market Data

Market Cap: $3.53T | 24H Vol: $212B | BTC Dominance: 54.5%

BTC: $97,240 (-1.7%) | ETH: $3,582 ( +8.1% ) | XRP: $1.70 (+14.5%)

This Week’s Crypto Headlines You Can’t Miss

MicroStrategy Breaks its Own Record: Another Massive Purchase for 55,500 BTC (Worth $5.4B). The business intelligence company has increased its Bitcoin holdings to 386,700 BTC, following a record-breaking purchase of 55,500 BTC worth $5.4 billion at an average price of $97,862. The company’s total crypto stash, acquired for nearly $22 billion, is now valued at around $37.6 billion, yielding over $15 billion in paper profit.

WisdomTree Files for Ripple (XRP) in Delaware. The entity has filed initial paperwork in Delaware to launch an XRP exchange-traded fund (ETF), marking the first step toward regulatory approval, with an S-1 registration required to proceed. While the filing reflects growing interest in altcoin ETFs, significant regulatory challenges could delay approvals.

Solana’s Pump.fun Halts Livestream Function After Disturbing Content Sparks Outrage. The Solana-based meme coin generator, has suspended its livestream functionality indefinitely to address inappropriate content and enhance moderation systems. The decision follows incidents of disturbing behavior on its platform, prompting the team to prioritize user safety and transparency while improving content control measures

TORN Surges 400% as Court Rules Against US Treasury Sanctions on Tornado Cash. The federal appeals court ruled that Tornado Cash’s smart contracts cannot be sanctioned as “property,” overturning the Treasury Department’s 2022 ruling against the crypto mixer. This decision was followed by a massive price resurgence for the underlying cryptocurrency.

MARA Boosts BTC Holdings to $3.3 Billion Through $1B Convertible Note Offering. MARA, formerly known as Marathon Digital, has expanded its Bitcoin holdings to 34,797 BTC (valued at $3.3 billion) after purchasing 6,474 BTC in November using proceeds from a $1 billion convertible note offering. The mining company plans to issue an additional $700 million in convertible notes for further Bitcoin acquisitions and corporate purposes, mirroring MicroStrategy’s debt-fueled BTC buying strategy.

Global Stablecoin Supply Hits New All-Time High. The total market capitalization of the stablecoin sector has reached a record $191.6 billion, with Tether (USDT) dominating 69% of the market and USD Coin (USDC) accounting for 21%. The figure represents a 50% increase since January 2024, driven by growing demand and bullish sentiment in the broader crypto market.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.