Price analysis 11/27: BTC, ETH, XRP, BCH, LINK, LTC, ADA, DOT, XLM, BNB
The bulls defended the 38.2% Fibonacci retracement level of $16,049.61 on Nov. 26 but they are struggling to sustain the price above the 20-day EMA. The failure of the LTC/USD pair to rebound off the 38.2% Fibonacci retracement level of $75.943, or the 20-day EMA ($73) shows that the bulls are not buying on dips.
Although the pair rebounded off the 61.8% Fibonacci retracement level of $64.8317 on Nov. 26, the bulls could not push the price above the 20-day EMA. Aggressive selling by the bears and liquidation by the bulls on Nov. 26 pulled the price down to $26.35, just above the critical support at $25.6652.