Red Monday opens retesting of support coming this week

27.11.2023

Dear traders,

The crypto market is pushing back from strong resistance, with a strong possibility of retesting support lines.

Jake
TOP Trader

BTC pushed back from resistance at 38k and is now falling under 37k, with a significant possibility of retesting support at 35k$. It is still in danger of a bigger fall if support doesn’t hold.

Ethereum (ETH) could break 2100$, and now it’s pushing back to the support of 2000$, which needs to hold for a bigger bullish push-up.

Ripple (XRP) is losing momentum and pushing back under the $0.62 channel. It needs a robust push with buying volume to drive the price up. However, $0.62 shows strong resistance, and a break above it will indicate a bullish continuation.

Chainlink (LINK) is testing the $14 support and needs to hold it for a bullish continuation. A significant, strong push is still needed to break strong resistance.

Solana (SOL) is pushing back to the $55 support, with a big possibility of a big push back to the $47 support for a retest.

EOS is just holding above the $0.662 support and needs to do so for a bigger push-up on the daily chart.

Litecoin (LTC) is still fighting with the $70 resistance and needs to hold above it for a bigger push-up. It is still in danger of a downtrend and a more substantial push-down.

The US dollar didn’t hold above 103.5, and there is a big possibility of a pushback.

Crypto/stock daily news:

THIS DAO IS VOTING TO SUE ITS FOUNDERS

This is one of the craziest stories I’ve seen in crypto. And that’s saying something…

Here’s what happened:

• Aragon is a crypto project that builds infrastructure for Decentralized Autonomous Organizations (DAOs). The project also has its own DAO to help make decisions. Call it DAO-inception.

• Earlier this month, the Aragon team announced it was shutting down the project. They also decided to wind down Aragon’s governance token (ANT).

• The problem: the decision was made without any input from the DAO. No heads up. No proposal. No voting. Nothing.

• Now the DAO is voting on whether to sue the founding team. Members of the DAO estimate that the founders would pocket ~$50M by shutting down the project and are putting that money into a “new secretive company.”

Never a dull moment in crypto.

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