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Market Analysis
The cryptocurrency market has been experiencing fluctuations over the past few days. Several coins have shown significant price movements, while others remain stable.
Notable Price Movements
- Dogecoin (DOGE) and Cardano’s ADA token both showed strong rebound off their 20-day moving averages on Nov. 26.
- Avalanche (AVAX) has been struggling to break above $45, but its upsloping 20-day EMA suggests a potential upside.
- Toncoin (TON) bounced off the 20-day EMA and is showing signs of buying on dips.
- Shiba Inu (SHIB) continues to trade between its 20-day moving average and overhead resistance.
Technical Analysis
The analysis highlights several key trends in the market:
- Dogecoin (DOGE): A strong rebound off the 20-day EMA suggests a positive sentiment. The bulls will try to push the price above $0.44, with potential targets at $0.50 and $0.59.
- Cardano’s ADA token: The recent pullback has found support at the 61.8% Fibonacci retracement level of $0.86. A break and close above $1.15 will initiate a new uptrend towards $1.25.
- Avalanche (AVAX): Although struggling to break above $45, the upsloping 20-day EMA suggests that the path of least resistance is upward. If buyers propel the price above $45, targets at $50 and $60 are possible.
- Toncoin (TON): The bounce off the 20-day EMA indicates a change in sentiment from selling on rallies to buying on dips. A break above $6.60 could lead to targets at $7 and $8.29.
- Shiba Inu (SHIB): The strong bounce off the 20-day EMA suggests that bulls continue to defend the level. A break and close above $0.000030 will complete an inverted head-and-shoulders pattern.
Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Here is a rewritten version of the text in a more concise format:
Market Analysis
The cryptocurrency market has been experiencing fluctuations over the past few days. Several coins have shown significant price movements, while others remain stable.
- Dogecoin (DOGE): Strong rebound off 20-day EMA, targets at $0.50 and $0.59.
- Cardano’s ADA token: Pullback found support at 61.8% Fibonacci retracement level of $0.86, break above $1.15 initiates new uptrend.
- Avalanche (AVAX): Struggling to break above $45, but upsloping 20-day EMA suggests potential upside.
- Toncoin (TON): Bounce off 20-day EMA indicates buying on dips, targets at $7 and $8.29.
- Shiba Inu (SHIB): Strong bounce off 20-day EMA suggests bulls continue to defend level, break above $0.000030 completes inverted head-and-shoulders pattern.
Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
