Fibonacci

Cryptocurrency markets have been under selling pressure since November 6. Altcoins have been falling and as a result have returned to their previous lows.

Ethereum (ETH) price, fluctuating within a small range, is in a downtrend.

Bitcoin (BTC) is in a downtrend as it retested the area of support twice. Since November 9, the bitcoin price has fluctuated only within a small range between $15,500 and $18,150.

Chainlink (LINK) is in a downtrend due to its recent collapse on November 9. The altcoin fell to a low of $5.77, but the bulls bought the dips. The cryptocurrency corrected upward to a high of $7.50 on November 10.

Polkadot (DOT) is in a downtrend as it falls below the moving average lines. The cryptocurrency's price dropped to a low of $5.34 before it started to fluctuate back above the existing support.

The price of Ethereum (ETH) is in a downtrend after falling to a low of $1,073 on November 9. The largest altcoin is likely to fall further while it is corrected upward.

Compared to other altcoins, PAX Gold has performed very well. PAXG has risen to a new high of $1734.34 and has maintained this level. Buyers have continued the uptrend. With the resumption of the bear market, TON, OKB, LTC and MKR are bumping back to their overarching resistance levels.

The price of Bitcoin (BTC) has fallen below the moving average lines, entering the bearish trend zone. Below the critical support at $17,605, the downward momentum intensified. On November 8, the BTC price crashed from a high of $21,473 to a low of $16,330.

Ripple (XRP) is in a downtrend as sellers broke through $0.41 support. The altcoin fell to a low of $0.31. Due to the current decline, XRP has entered the oversold zone. It can be assumed that XRP will soon resume an uptrend if there are buyers in the oversold area.