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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.

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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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Cryptocurrency charts by TradingView.

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Ethereum

Arthur Hayes Says Cardano Is A ‘Shitcoin’ – Here’s Why

Cardano (ADA) is a “shitcoin” without purpose that has no distinct advantage over competitors, according to BitMEX co-founder Arthur Hayes.

“Who gives a fuck? Zero?” said Hayes when asked “What about Cardano?” in an interview with Coin Bureau published on Sunday.

Cardano Is A Shitcoin, Says Hayes

Continuing to describe the cryptocurrency – a top ten digital asset by market cap – Hayes did not mince words: “The first wannabe Ethereum, and probably the first one to go to be irrelevant,” he said.

Typically, the popular crypto essayist and trader is well known as one of the loudest long-term Bitcoin (BTC) and Ethereum (ETH) bulls, and often expresses interest in small-cap cryptos for short-term trading.

During the same interview, Hayes even expressed interest in the memecoin “dogwifhat” calling it the “best dog money of this bull cycle.

“I love Rare Pepe’s… I think we’re going to see a resurgence of NFT trading volumes,” he added.

The writer’s unique callout of Cardano ruffled some feathers online – especially with the network’s founder, Charles Hoskinson. On Tuesday, Hoskinson asked Hayes why he was “throwing shade” at Cardano.

“Cause your coin is a piece of shit man,” Hayes replied. “Just buy some ETH and chill.”

What Makes Cardano Unique?

Much like Ethereum, Cardano is a smart contract platform for developing decentralized applications. It also popularized as one of the first well-developed proof-of-stake cryptocurrencies, which use crypto rather than energy to secure its network.

However, many popular blockchains today now use the same mechanism, with Ethereum undergoing a massive upgrade in 2022 to adopt proof of stake. In terms of both market size and DeFi TVL, Cardano is still outsized by competitors like Ethereum, Solana, and Binance Smart Chain (BSC).

On Tuesday, Hayes published a list of the world’s most popular Dapps, and asked which of them had originated or grown most popular on the Cardano blockchain.

“From my very limited knowledge, it looks like none of them do,” he said. “That’s why ADA is dog shit.”

On Bitcoin, however, Hayes remains a bull, expecting strong money printing from the Federal Reserve to drive the asset’s price up soon.

“When printing money happens and you debase the value of time and human labor, we rejoice and say great, fuck you, we’re gonna take Bitcoin to a million,” he told Coin Bureau.

Late last year, Hayes predicted that Bitcoin would reach between $750,000 and $1 million by the end of 2026.

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Ethereum

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