The crypto market is still not showing good development, incurring negative impact of Bitcoin Price (BTC) since posting the highest value of all time (ATH), $ 68,789 on November 10.
Analysts account for crypto market movements for currency: BTC, Avalanche (AVAX), Polygon (Matic), Elrond (EGDD), Decentraland (which) throughout the week.
Btc
Bitcoin recorded a weekly lowest level, $ 55,661 on November 19 and faced with the 50-day Simple Moving Average (SMA) resistance at $ 60,187.
There is a bearish signal based on the Moving Averages and Relative Strength Indicator (RSI) indicators.
If the BTC price continues to decline from the current level, there is a potential price correction up to below $ 55,600. This means that the support zone will be at $ 52,500 and $ 50,000.
If on the contrary, BTC may record new ATH at $ 69,000.
During writing, BTC was traded at $ 57,358 with a bearish price of almost 3% in 24 hours.
Avax
Positive sentiment pushed the AVAX price to surpass the 200% Fibonacci level at $ 147 last night.
The 20-day Exponential Moving Average (EMA) increase is still a bullish signal, but RSI around 80 levels may cause correction in a few days.
If AVAX recorded a depreciation, then the $ 110 and EMA 20-day price level will be support. On the contrary, it happens if Avax Terbus EMA is 20 days, it is not impossible for this asset to slop up to $ 110 and $ 80.
During writing, AVAX was traded at $ 136 with a price drop nearly 1% in 24 hours.
EGld
EGD witnessed an increase in asset purchases to push its price to rise to $ 370, surpassing the resistance of $ 338.70.
The EGDD surge also caused RSI to be at the lowest level, indicating there was potential for price correction.
If it happens as the above expectations, the first support is at $ 338.70 and EMA 20-day, $ 325.
If EGD continues the uptrend pattern, the next record is at a $ 500 price level. But this expectation can be ignored if the EGDD penetrates $ 303.
When writing, AVAX was traded at $ 447 with a price increase of almost 5% in 24 hours.
