Quick Take • AVAX trading at $13. 27 (down 3. 4% in 24h) • Granite upgrade launch failed to prevent price decline to 52-week lows • Testing critical support near $12. 57 with oversold technical readings • Following Bitcoin’s weakness amid broader risk-off sentiment in markets Market Events Driving Avalanche Price Movement The most significant development affecting AVAX price this week was the November 19 launch of the Granite upgrade, which paradoxically coincided with a 6% daily decline that pushed the token to its current 52-week low of $13. 27. The upgrade introduced dynamic blocktimes, FaceID-compatible authentication features, and optimized cross-chain messaging capabilities, yet failed to generate positive price momentum. This disconnect between fundamental development and price action reflects broader market headwinds that have overshadowed Avalanche’s technical progress. The monthly decline exceeding 25% demonstrates how macro factors are currently dominating crypto-specific catalysts. Contributing to the bearish sentiment, U. S. stock markets experienced their fourth consecutive day of losses on November 18, with the S&P 500 and Dow declining amid investor caution ahead of Nvidia’s earnings. This traditional market weakness has spilled over into cryptocurrencies, with AVAX price following the broader risk-off tone across digital assets. AVAX Technical Analysis: Oversold Conditions at Critical Support Price Action Context AVAX price currently trades significantly below all major moving averages, with the current $13. 27 level sitting 6% below the 7-day SMA at $14. 13 and a substantial 41% below the 200-day SMA at $22. 56. This positioning indicates a sustained downtrend that has accelerated in recent sessions. The Binance spot market data shows AVAX is trading near the lower Bollinger Band at $12. 86, with the %B position at 0. 0701 confirming proximity to this technical support level. Daily trading volume of $81. 8 million suggests adequate liquidity despite the declining price action. Key Technical Indicators The RSI reading of 26. 63 places Avalanche technical analysis firmly in oversold territory, typically indicating potential for a technical bounce. However, the MACD remains bearish with a -1. 7233 reading and negative histogram of -0. 0758, suggesting downward momentum persists despite oversold conditions. The Stochastic oscillator shows extreme oversold readings with %K at 11. 59 and %D at 9. 80, reinforcing the RSI signal. The Average True Range of $1. 30 indicates elevated volatility, providing both opportunity and risk for traders. Critical Price Levels for Avalanche Traders Immediate Levels (24-48 hours) • Resistance: $14. 13 (7-day moving average and previous support turned resistance) • Support: $12. 57 (24-hour low and critical technical floor) Breakout/Breakdown Scenarios A break below $12. 57 support could trigger accelerated selling toward the strong support zone at $8. 52, representing potential downside of approximately 35%. Conversely, reclaiming $14. 13 would signal initial stabilization, with the next meaningful resistance at $15. 80 (20-day SMA). AVAX Correlation Analysis Avalanche is currently exhibiting high correlation with Bitcoin’s weakness, as both assets face similar macro pressures from traditional market uncertainty. The broader cryptocurrency market’s decline has created sector-wide selling pressure that technical upgrades have been unable to offset. Traditional market correlation appears elevated, with AVAX price movements aligning with the S&P 500’s recent four-day decline. This suggests institutional and retail investors are treating crypto assets as risk assets during the current period of market caution. Trading Outlook: Avalanche Near-Term Prospects Bullish Case Oversold technical conditions could support a relief bounce if broader markets stabilize. Key catalyst would be reclaiming $14. 13 resistance and breaking above the 7-day moving average. Volume expansion above current levels would confirm institutional re-engagement with AVAX price action. Bearish Case Failure to hold $12. 57 support in the next 24-48 hours could trigger algorithmic selling and stop-loss orders, potentially driving AVAX toward single digits. Continued traditional market weakness would likely exacerbate crypto selling pressure. Risk Management Conservative traders should consider $12. 00 as a stop-loss level, representing roughly 10% downside from current levels. Given the elevated ATR of $1. 30, position sizing should account for potential daily swings exceeding 10% in either direction.
https://bitcoinethereumnews.com/tech/avax-tests-52-week-lows-at-13-27-despite-granite-upgrade-launch/
Tag: quick
BNB Tests Lower Bollinger Band at $943 as Bearish Momentum Builds Despite Long-Term Uptrend
**Binance Coin (BNB) Price Analysis: Testing Support as Bearish Momentum Builds**
**Quick Take**
– **Price**: $942.86 (down 1.3% in 24h)
– **Technical**: Testing lower Bollinger Band support with bearish signals
– **RSI**: 33.68, suggesting oversold conditions
– **Market Context**: Reflects broader crypto weakness as Bitcoin declines
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### Market Events Driving Binance Coin Price Movement
Binance Coin is currently trading lower, with no major news events directly impacting BNB in the past 48 hours. The price decline mainly follows the broader cryptocurrency market’s downturn, led by weakness in Bitcoin. This is in line with typical correlations during periods of technical consolidation, where altcoins often follow Bitcoin’s direction.
Despite the recent pullback, Binance spot market volume remains robust at $893.7 million. This indicates sustained institutional interest and suggests the current drop is likely a temporary correction rather than a shift in long-term sentiment.
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### Binance Coin Technical Analysis: Oversold Bounce Setup
#### Price Action Context
BNB price is trading well below all short and medium-term moving averages:
– **7-day SMA**: $1,031.26
– **20-day SMA**: $1,078.10
– **50-day SMA**: $1,092.16
However, BNB remains above the **critical 200-day moving average** at $815.31—preserving its long-term bullish structure. The current price has slipped outside the lower Bollinger Band (-0.1087 %B reading), historically a sign that a short-term bounce may be forming.
#### Key Technical Indicators
– **RSI (33.68)**: In neutral-to-oversold territory, approaching levels that have marked local bottoms in the past.
– **MACD Histogram (-21.57)**: Confirms ongoing bearish momentum, but such an extreme reading suggests possible exhaustion ahead.
– **Stochastic Oscillator (%K: 20.54, %D: 18.03)**: Deep in oversold territory, often associated with imminent reversal attempts when combined with support level tests.
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### Critical Price Levels for Binance Coin Traders
**Immediate Levels (24–48 hours):**
– **Resistance:** $967.02 (Lower Bollinger Band, now acting as resistance)
– **Support:** $880.80 (24-hour low and key support zone)
**Breakout/Breakdown Scenarios**
– A break **below $880.80 support** could trigger further selling, with the next strong support at $860.11 testing buyers’ commitment.
– Conversely, reclaiming the **$967** lower Bollinger Band level would signal the start of a mean reversion move, potentially targeting the 20-day MA near $1,078.
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### BNB Correlation Analysis
– **Bitcoin**: BNB is closely tracking Bitcoin, with a 0.8–0.9 correlation during risk-off periods.
– **Traditional Markets**: Little direct correlation to S&P 500 movements in the current session.
– **Sector Peers**: BNB is underperforming compared to some exchange tokens, mainly due to BNB-specific technical pressures.
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### Trading Outlook: Binance Coin Near-Term Prospects
**Bullish Case**
– If BNB holds the $880.80 support and shows RSI divergence, a relief rally toward the $1,000–$1,030 resistance area is plausible.
– Historical behavior after closing outside the lower Bollinger Band often results in mean reversion over 3–7 days.
**Bearish Case**
– Failure to hold the $880.80 support could open downside risk toward $860.11, and perhaps even the 200-day MA at $815 if crypto market weakness intensifies.
– Negative MACD momentum suggests limited buying interest at current levels.
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### Risk Management
– **Stop-loss recommendation:** Below $860 for long positions.
– **Position sizing:** Recommended at 2–3% due to the elevated ATR ($70.42) and ongoing volatility. This helps manage risk during uncertain technical conditions.
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*Image source: Shutterstock.*
https://Blockchain.News/news/20251105-bnb-tests-lower-bollinger-band-at-943-as-bearish-momentum
Polkadot System Chains Upgrade Passes as DOT Tests Lower Bollinger Band Support at $2.88
**Polkadot (DOT) Price Analysis and Market Update**
**Quick Take**
– DOT trading at $2.88, down 2.7% in the last 24 hours
– Unanimous system chains upgrade referendum signals strong community backing
– Price currently testing lower Bollinger Band support at $2.83
– Follows Bitcoin’s weakness amid broader risk-off market sentiment
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### Market Events Driving Polkadot Price Movement
This week’s most significant development for Polkadot was the unanimous passage of a referendum to upgrade all system chains and schedule the Asset Hub Migration. This technical advancement highlights robust community consensus and positions the network for enhanced functionality. Despite the current price weakness, this provides a positive fundamental backdrop for DOT.
Polkadot is also set to participate in Hong Kong Fintech Week from November 3-7. This event adds a further layer of institutional exposure, showcasing the network’s interoperability solutions to a global audience, which may prove beneficial for Polkadot’s medium-term outlook.
Conversely, the failure of the Staking Dashboard funding referendum reflects some community friction over resource allocation. However, this had minimal impact on the market.
In the absence of significant breaking news catalysts, DOT’s price action is primarily influenced by technical factors and broader cryptocurrency market sentiment. The token currently faces selling pressure, tracking Bitcoin and other major cryptocurrencies as risk-off sentiment dominates trading decisions.
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### DOT Technical Analysis: Testing Critical Support Zone
**Price Action Context**
DOT price currently sits below all major moving averages, trading at $2.88 compared to the 20-day SMA at $3.01 and the 50-day SMA at $3.59. This positioning signals sustained bearish pressure, with the token down approximately 26% from its 52-week high of $5.31.
The price movement indicates that Polkadot is closely following Bitcoin’s weakness rather than exhibiting independent strength. Trading volume on Binance’s spot market reached $14.4 million over 24 hours, reflecting moderate institutional interest but lacking the momentum needed to trigger a sustained reversal.
**Key Technical Indicators**
– The Relative Strength Index (RSI) stands at 38.18, in neutral territory but approaching oversold conditions, which could signal potential for a technical bounce.
– The MACD histogram shows a slight bullish divergence at 0.0218, suggesting weakening selling pressure despite the overall negative MACD value of -0.1722.
– Most importantly, the %B indicator at 0.1532 shows DOT price near the lower Bollinger Band at $2.83, a level that has historically provided support in previous corrections.
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### Critical Price Levels for Polkadot Traders
**Immediate Levels (Next 24-48 Hours):**
– **Resistance:** $3.01 (20-day moving average and psychological resistance)
– **Support:** $2.83 (lower Bollinger Band and recent 24-hour low)
**Potential Breakout/Breakdown Scenarios:**
– A break below the $2.83 support level could trigger further selling pressure, pushing the price toward the next major support zone at $2.77. Note that the 52-week low at $2.87 was recently breached.
– Conversely, a successful defense at $2.83 and a move above the $3.01 resistance could open the door for a rally toward the immediate resistance at $3.34.
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### DOT Correlation Analysis
– **Bitcoin:** DOT’s price movements are closely correlated with Bitcoin’s bearish momentum, with both assets experiencing similar percentage declines in recent sessions.
– **Traditional Markets:** Risk-off sentiment spilling over from equity markets appears to be weighing on cryptocurrencies broadly.
– **Sector Peers:** Polkadot is currently underperforming some layer-1 competitors, indicating there may be specific selling pressure beyond the general market weakness.
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### Trading Outlook: Polkadot Near-Term Prospects
**Bullish Case:**
If DOT can successfully defend the $2.83 lower Bollinger Band support, combined with positive momentum stemming from exposure during Hong Kong Fintech Week, a technical bounce toward $3.01 resistance is possible. Additionally, the unanimous referendum passage provides a supportive fundamental outlook for the medium-term.
**Bearish Case:**
Failure to hold current support levels amid continued Bitcoin weakness could see further declines toward the strong support zone around $2.77. Broader cryptocurrency market sentiment remains fragile, increasing the risk of additional downside.
**Risk Management:**
Traders are advised to consider tight stop-losses below $2.80, given the proximity to critical support. The daily Average True Range (ATR) of $0.23 suggests that position sizing should account for potential daily price swings of approximately 8% in either direction.
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*Stay updated with the latest developments as Polkadot navigates a challenging market environment supported by strong community fundamentals.*
https://bitcoinethereumnews.com/tech/polkadot-system-chains-upgrade-passes-as-dot-tests-lower-bollinger-band-support-at-2-88/?utm_source=rss&utm_medium=rss&utm_campaign=polkadot-system-chains-upgrade-passes-as-dot-tests-lower-bollinger-band-support-at-2-88