DOGE and SHIB Face Early Pressure as Focus Shifts to US Inflation

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) enjoyed a bullish Wednesday session, with DOGE testing resistance at $0.11.
  • Bets of China easing lockdown measures and Fed Chair Powell delivered a NASDAQ breakout session, which provided DOGE and SHIB price support.
  • The technical indicators remain mixed, with the DOGE EMAs signaling further price gains.

On Wednesday, dogecoin (DOGE) rose by 5.13%. Following a 6.74% rally on Tuesday, DOGE ended the day at $0.1066. Notably, DOGE wrapped up the day at $0.10 for the second time since November 7.

A bullish start to the day saw DOGE rally to an early high of $0.1099. DOGE broke through the First Major Resistance Level (R1) at $0.1066 before sliding to a late afternoon low of $0.0995. However, steering clear of the First Major Support Level (S1) at $0.0949, DOGE broke back through R1 to revisit $0.1096 before easing back.

Shiba inu coin (SHIB) rose by 2.97% on Wednesday. After ending the Tuesday session flat, SHIB ended the day at $0.00000935.

Tracking DOGE, SHIB rose to an early high of $0.00000939. SHIB broke through the First Major Resistance Level (R1) at $0.00000926 before sliding back to a late afternoon low of $0.00000902. However, steering clear of the First Major Support Level (S1) at $0.00000894, SHIB broke back through R1 to revisit the day high of $0.00000939 before easing back.

Bullish sentiment spilled over from Tuesday to deliver a breakout start to the mid-week session. Hopes of the Chinese government easing lockdown measures in the wake of the countrywide protests drove crypto demand. Softer FTX contagion risk and hopes of a December Fed pivot also gave support.

Late in the day, a less hawkish Fed Chair Powell supported a second wave of buying to deliver solid gains for the session. Fed Chair Powell talked of slowing the pace of interest rate hikes, affirming market bets of a Fed pivot.

The less hawkish comments delivered a bullish session for the US equity markets, with the NASDAQ Composite Index and S&P500 seeing gains of 4.41% and 3.09%, respectively.

However, there were no updates on Twitter’s DOGE integration plans to support a return to $0.11.

Following the market reaction to Fed Chair Powell’s comments on Wednesday, US economic indicators will likely influence today. Inflation and personal spending figures will draw interest along with FOMC member chatter.

A spike in inflation and spending, together with hawkish FOMC member chatter, would test buyer demand. Investors will also need to track the news wires for Twitter updates on its crypto integration plans.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was down 1.69% to $0.1048. A mixed start to the day saw DOGE rise to an early high of $0.1079 before falling to a low of $0.1038.

DOGE under pressure.
DOGEUSD 011222 Daily Chart

Technical Indicators

DOGE needs to move through the $0.1053 pivot to target the First Major Resistance Level (R1) at $0.1112. A move through the Wednesday high of $0.1099 would signal a bullish afternoon session. However, the news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.1157 and $0.12. The Third Major Resistance Level (R3) sits at $0.1261.

Failure to move through the pivot ($0.1053) would leave the First Major Support Level (S1) at $0.1008 in play. Barring an extended sell-off, DOGE should avoid sub-$0.10 and the Second Major Support Level (S2) at $0.0949.

The Third Major Support Level (S3) sits at $0.0845.

DOGE support levels in play.
DOGEUSD 011222 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.0931. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The price signals were bullish.

A hold above S1 ($0.1008) and the 50-day EMA ($0.0953) would support a breakout from R1 ($0.1112) to target R2 ($0.1157) and $0.12. However, a fall through S1 ($0.1008) would give the bears a run at the 50-day EMA ($0.0953) and S2 ($0.0949).

EMAs bullish.
DOGEUSD 011222 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was down 1.39% to $0.00000922. A bearish start to the day saw SHIB fall from an early high of $0.00000937 to a low of $0.00000920.

SHIB on the back foot.
SHIBUSD 011222 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00000925 pivot to target the First Major Resistance Level (R1) at $0.00000949. A return to $0.00000940 would signal a bullish afternoon session. However, SHIB will likely take its cues from the broader crypto market and the NASDAQ Index.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000962. The Third Major Resistance Level (R3) sits at $0.00000999.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00000912 in play. Barring an extended sell-off, SHIB should avoid sub-$0.00000890 and the Second Major Support Level (S2) at $0.00000888. The Third Major Support Level (S3) sits at $0.00000851.

SHIB support levels in play.
SHIBUSD 011222 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 100-day EMA, currently at $0.00000929. This morning, the 50-day EMA narrowed on the 100-day EMA, while the 100-day EMA flattened on the 200-day EMA. The signals were mixed.

A SHIB move through the 100-day EMA ($0.00000929) would support a run at R1 ($0.000000949) and $0.000000950. However, a fall through the 50-day EMA ($0.00000914) and S1 ($0.00000912) would bring S2 ($0.00000888) into view.

EMAs bearish,
SHIBUSD 011222 4 Hourly Chart

Crypto Market Daily Highlights – Powell and the NASDAQ Fuel a Breakout

Key Insights:

  • It was a bullish Wednesday session for the crypto top ten. MATIC led the way, with ETH revisiting $1,300.
  • Investor sentiment toward China’s zero-COVID policy, FTX contagion risk, and market reaction to Fed Chair Powell’s speech supported a breakout session.
  • The crypto market cap jumped by $31.4 billion to end the day at $820.9 billion.

It was a bullish Wednesday session for the crypto top ten. MATIC led the way, with DOGE and ETH also making bullish moves. BTC wrapped up the day at $17,000 for the first time in nineteen sessions.

Investor sentiment towards China’s zero-COVID policy and easing FTX contagion risk delivered early support.

However, Fed Chair Powell delivered a late rally. Following mixed US labor market numbers, the Fed Chair supported the market bets of a December Fed pivot. On Wednesday, the Fed Chair talked of moderating the pace of interest rate increases, reportedly saying,

“It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down. The time for moderating the pace of rate increases may come as soon as the December meeting.”

During the speech, investor reaction was evident, with the crypto market cap jumping by $16.5 billion. US economic indicators had delivered mixed reactions ahead of Powell’s speech.

The NASDAQ Composite Index also responded to the Powell speech, rallying 4.41% to end November on a high.

Later today, US inflation and personal spending figures will provide further direction along with FOMC member chatter. A spike in inflation and spending and hawkish Fed chatter would test buyer appetite.

NASDAQ correlation.
Total Market Cap – NASDAQ – 011222 5 Minute Chart

Crypto Market Returns to $800bn on China COVID Policy and Powell

On Wednesday, the crypto market cap rose from an early low of $787.2 billion to a late high of $827.6 billion. While hopes of China easing lockdown measures supported a bullish start to the day, Fed Chair Powell delivered the session high.

The $31.4 billion surge on Wednesday left the market cap down $151.1 billion to $820.9 billion for November.

Crypto market sees heavy November loss.
Total Market Cap 011222 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It was a bullish Wednesday session for the crypto top ten.

MATIC led the way, surging by 11.41%, with DOGE and ETH seeing gains of 5.13% and 6.49%, respectively.

However, ADA (+3.24%), BNB (+1.79%), BTC (+4.42%), and XRP (+2.43%) trailed the front runners.

From the CoinMarketCap top 100, it was a bullish session.

GMX (GMX) led the way, surging by 18.24%, with fantom (FTM) and polygon (MATIC) seeing gains of 12.52% and 11.41%, respectively.

However, huobi token (HT) led the way down, falling by 2.23%, with celo (CELO) ending the day with a 0.49% loss.

24-Hour Liquidations Inch Higher in a Powell-Fueled Breakout

Over 24 hours, total liquidations climbed as investors raised bets of China easing lockdown measures and reacted to Fed Chair Powell’s speech.

At the time of writing, 24-hour liquidations stood at $86.43 million, up from $73.29 million on Wednesday morning.

Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 25,085 versus 19,696 on Wednesday morning. However, liquidations were down over 12 and four hours and over one hour.

Crypto liquidations rise over 24-hours.
Total Crypto Liquidations 011222

According to Coinglass, 12-hour liquidations fell from $49.01 million to $32,75 million, with four-hour liquidations down from $37.42 million to $8.52 million. One-hour liquidations slid from $36.06 million to $2.13 million.

The chart below shows market conditions throughout the session.

Crypto market enjoyed a late breakout.
Total Market Cap 011222 Hourly Chart

DOGE Bulls Continue to Target $0.11 Ahead of Fed Chair Powell Speech

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) joined the broader market in a rebound session on Tuesday, with DOGE wrapping up the day at $0.1014.
  • Market risk appetite and Twitter plans to integrate DOGE onto the payment platform delivered price support.
  • The technical indicators remain mixed, with the DOGE EMAs signaling further price gains.

On Tuesday, dogecoin (DOGE) rallied by 6.74%. Reversing a 3.55% loss from Monday, DOGE ended the day at $0.1014. Notably, DOGE wrapped up the day at $0.10 for the first time since November 7.

A mixed start to the day saw DOGE fall to an early low of $0.0936. Steering clear of the First Major Support Level (S1) at $0.0906, DOGE rallied to a late morning high of $0.1053. DOGE broke through the First Major Resistance Level (R1) at $0.0995 and the Second Major Resistance Level (R2) at $0.1040.

However, a mixed afternoon saw DOGE fall back through R2 and R1 to end the day at $0.1014.

Shiba inu coin (SHIB) ended the Tuesday flat. Following a 2.05% loss from Monday, SHIB ended the day at $0.00000908.

Tracking DOGE, SHIB fell to an early low of $0.00000899. Steering clear of the First Major Support Level (S1) at $0.00000878, SHIB rose to a mid-morning high of $0.00000931. However, falling short of the First Major Resistance Level (R1) at $0.00000937, SHIB fell back to an afternoon low of $0.00000900 before wrapping up the day at $0.00000908.

After the China protests on Monday, hopes of the Chinese government easing COVID lockdown measures drove demand for riskier assets through the Tuesday morning session.

Easing fear of FTX contagion also provided support as investors brushed aside the news of BlockFi filing for bankruptcy.

For DOGE investors, Twitter integration plans continued to deliver price support.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 4.93% to $0.1064. A bullish start to the day saw DOGE rally from an early low of $0.1009 to a high of $0.1099.

DOGE broke through the First Major Resistance Level (R1) at $0.1066 before easing back.

DOGE on the move.
DOGEUSD 301122 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.1001 pivot to retarget the First Major Resistance Level (R1) at $0.1066 and the morning high of $0.1099. A return to $0.1075 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.1118 and $0.1150. The Third Major Resistance Level (R3) sits at $0.1235.

A fall through the pivot ($0.1001) would bring the First Major Support Level (S1) at $0.0949 into play. Barring an extended sell-off, DOGE should avoid sub-$0.0900 and the Second Major Support Level (S2) at $0.0884. However, further signs of FTX contagion would bring sub-$0.0800 into view.

The Third Major Support Level (S3) sits at $0.0767.

DOGE resistance levels in play.
DOGEUSD 301122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.0931. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The price signals were bullish.

A hold above S1 ($0.0949) and the 50-day EMA ($0.0931) would support a breakout from R1 ($0.1066) to target R2 ($0.1118). However, a fall through S1 ($0.0949) and the EMAs would bring S2 ($0.0884) into view.

EMAs bullish.
DOGEUSD 301122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 2.20% to $0.00000928. A bullish start to the day saw SHIB rise from an early low of $0.00000906 to a high of $0.00000939.

SHIB broke through the First Major Resistance Level (R1) at $0.00000926.

SHIB finds morning support.
SHIBUSD 301122 Daily Chart

Technical Indicators

SHIB needs to hold above R1 and the $0.00000913 pivot to target the Second Major Resistance Level (R2) at $0.00000945. A return to $0.00000940 would signal a bullish afternoon session. However, SHIB will likely take its cues from the broader crypto market today.

In the case of an extended rally, SHIB would likely test resistance at $0.00000950. The Third Major Resistance Level (R3) sits at $0.00000977.

A fall through R1 and the pivot would bring the First Major Support Level (S1) at $0.00000894 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000890 and the Second Major Support Level (S2) at $0.00000881. The Third Major Support Level (S3) sits at $0.00000849.

SHIB resistance levels in play.
SHIBUSD 301122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 100-day EMA, currently at $0.00000930. This morning, the 50-day EMA narrowed on the 100-day EMA, while the 100-day EMA slipped back from the 200-day EMA. The signals were mixed.

A SHIB move through the 100-day EMA ($0.00000930) would support a run at R2 ($0.000000945) and $0.000000950. However, a fall through the 50-day EMA ($0.00000912) would bring S1 ($0.00000894) into view.

EMAs remain bearish.
DOGEUSD 301122 4 Hourly Chart

Crypto Market Daily Highlights – DOGE and ETH Lead the Top Ten

Key Insights:

  • It was a bullish Tuesday session for the crypto top ten. DOGE led the way, with ETH returning to $1,200.
  • Investor sentiment toward China eased, supporting a broad-based crypto rebound.
  • The crypto market cap rose by $13.3 billion to end the day at $789.4 billion.

It was a bullish Tuesday session for the crypto top ten. DOGE led the way, with ETH also making a move. Despite the bullish sentiment, BTC fell short of $17,000 for a thirteenth consecutive session while avoiding sub-$16,000 for a seventh successive session.

US economic indicators failed to curtail the Tuesday rebound despite consumer confidence deteriorating. In November, the CB Consumer Confidence Index fell from 102.2 to 100.2.

However, while the crypto market enjoyed a bullish session, the NASDAQ Composite Index ended the day with a 0.59% loss. Apprehension ahead of today’s Fed Chair Powell speech weighed.

Easing jitters over China’s zero-COVID policy, supported by the Hang Seng and the CSI300, delivered the Tuesday crypto rebound. Easing FTX contagion risk also contributed, however.

NASDAQ decoupling.
Total Market Cap – NASDAQ – 301122 Daily Chart

Crypto Market Bounces Back as China Risk Aversion Abated

On Tuesday, the crypto market cap slid to an early low of $770.2 billion before rising to a late morning high of $800.1 billion.

Bullish sentiment throughout the morning session supported the market recovery of Monday’s losses.

However, a mixed afternoon session saw the market cap fall back to $785 before finding support. A bullish end to the session left the market cap up by $13.3 billion to $789.4 billion on the day.

Crypto market on the move
Total Market Cap 301122 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It was a bullish Tuesday session for the crypto top ten.

DOGE led the way, rising by 6.74%, with ETH gaining 4.17%.

However, ADA (+0.98%), BNB (+0.65%), BTC (+1.48%), MATIC (+2.00%), and XRP (+2.36%) trailed the front runners.

From the CoinMarketCap top 100, it was a mixed session.

Huobi token (HT) led the way, rallying by 8.1%, with ETH and DOGE among the front runners.

However, binaryX (BNX) led the way down, falling by 2.92%, with kucoin token (KCS) and nexo (NEXO) seeing losses of 1.95% and 2.50%, respectively.

24-Hour Liquidations Eased on a Bullish Tuesday and Wednesday Morning

Over 24 hours, total liquidations slipped below normal levels. Sentiment towards China and FTX contagion delivered crypto market support, leading to the fall in liquidations.

At the time of writing, 24-hour liquidations stood at $73.29 million, down from $91.98 million on Tuesday morning.

Liquidated traders over the last 24 hours also decreased. At the time of writing, liquidated traders stood at 19,696 versus 34,626 on Tuesday morning. However, Liquidations were up over 12 and four hours and over one hour.

Crypto liquidations spike over the last hour.
Total Crypto Liquidations 301122

According to Coinglass, 12-hour liquidations rose from $30.63 million to $49.01 million, with four-hour liquidations up from $1.53 million to $37.42 million. One-hour liquidations jumped from $0.275 million $36.06 million.

The chart below shows market conditions throughout the session.

Crypto market spikes in first hour of the morning.
Total Market Cap 301122 Hourly Chart

Some Demand Stabilisation in Crypto

Market Picture

Bitcoin declined on Monday along with stock indices, testing six-day lows near $16K, following a decline in demand for risky assets due to unrest in China. Near this round level, the first cryptocurrency saw a demand, and in early trading on Tuesday, cryptocurrencies rose more actively than traditional markets, bringing the price of Bitcoin back to $16.5K.

Bitcoin 1 hour chart

According to CoinMarketCap, total capitalisation rose 2.2% overnight to $835bn, while the top coins add between 2% (Cardano) and 9% (Dogecoin), and Ethereum is again hovering around $1200.

The cryptocurrency market is showing signs of buying on the downturn and has been performing better than stocks for the past 24 hours, bolstering buyers’ hopes.

Major players continue to go bust, adding the BlockFi platform to the list, and Hong Kong exchange AAX is having problems. The market seems to be taking this news as part of the sector’s recovery process, with weaker projects leaving.

News Background

Santiment notes that wallets with large balances (100-10,000 BTC), after three weeks of net sales of 1.36% of total volume, have accumulated 0.24% in the last five days. It looks like the whales may be about to stop selling.

Meanwhile, Glassnode claims smaller players are increasingly buying bitcoin on the dips. Investors with less than 1 BTC balance have added 96,200 BTC to their total holdings since the FTX crash.

According to CoinShares, investments in crypto funds fell by $23 million last week, with the outflow of funds the highest in 11 weeks. Bitcoin investments decreased by $10m, and Ethereum by $6m. Investments in funds allowing shorts on bitcoin increased by $9m. Negative market sentiment persists after the FTX collapse, CoinShares noted.

Regulators could take years to catch up and successfully control the cryptocurrency industry, so the industry needs to learn how to do it independently, says billionaire Bill Eckman.

by FxPro’s Senior Market Analyst Alex Kuptsikevich

DOGE Bulls Target $0.11 as Investor Focus Returns to Twitter Plans

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) joined the broader market in the red on Monday, with DOGE seeing red for the second time in four sessions.
  • Sentiment towards DOGE integration onto the Twitter payment platform took a backseat, with riskier assets hitting reverse after the US Thanksgiving Holidays.
  • The technical indicators are mixed, with the DOGE EMAs signaling further price gains.

On Monday, dogecoin (DOGE) slid by 3.55%. Partially reversing a 10.67% rally from Sunday, DOGE ended the day at $0.0950. Notably, DOGE avoided sub-$0.0900 for the fourth consecutive session.

A mixed start to the day saw DOGE rise to an early high of $0.0996. Coming up short of the First Major Resistance Level (R1) at $0.01080, DOGE slid to a late afternoon low of $0.0907. However, steering clear of the First Major Support Level (S1) at $0.0888, DOGE found support to end the day at $0.0950.

Shiba inu coin (SHIB) fell by 2.05% on Monday. Partially reversing a 2.89% gain from Sunday, SHIB ended the day at $0.00000908.

Tracking DOGE, SHIB rose to an early high of $0.00000936. Falling short of the First Major Resistance Level (R1) at $0.00000960, SHIB slid to an early low of $0.00000877. SHIB briefly slipped through the First Major Support Level (S1) at $0.00000897 before wrapping up the day at $0.00000908.

Bearish sentiment stemming from protests across China weighed on riskier assets on Monday. The NASDAQ Composite Index sent DOGE and SHIB into the deep red. Despite news of BlockFi filing for bankruptcy, the pair found late support to limit the losses from the session.

This morning, investor focus returned to Twitter and the hope of Twitter integrating DOGE onto the payment platform.

On Sunday, Elon Musk delivered a DOGE breakout session that provided SHIB with much-needed price support. Musk posted a set of slides from a recent Twitter company talk on Sunday. A fourth slide, titled Payments, did not reveal which form of payments Twitter 2.0 will accept. However, investors took this as a cue for DOGE incorporation.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 6.32% to $0.1010. A bullish start to the day saw DOGE rally from an early low of $0.0936 to a high of $0.1032.

DOGE broke through the First Major Resistance Level (R1) at $0.0995.

DOGE on the move.
DOGEUSD 291122 Daily Chart

Technical Indicators

DOGE needs to hold above R1 and the $0.0951 pivot to retarget the Second Major Resistance Level (R2) at $0.1040 and last week’s high of $0.1079. A return to $0.1050 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at $0.11 and the Third Major Resistance Level (R3) at $0.1129.

A fall through R1 and the pivot ($0.0951) would bring the First Major Support Level (S1) at $0.0906 into play. Barring an extended sell-off, DOGE should avoid sub-$0.0900 and the Second Major Support Level (S2) at $0.0862. However, further signs of FTX contagion would bring sub-$0.0800 into view.

The Third Major Support Level (S3) sits at $0.0773.

DOGE resistance levels in play.
DOGEUSD 291122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.0902. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The price signals were bullish.

A hold above S1 ($0.0906) and the 50-day EMA ($0.0902) would support a breakout from R2 ($0.1040) to target $0.11. However, a fall through S1 ($0.0906) and the EMAs would bring S2 ($0.0862) into view.

DOGE EMAs bullish.
DOGEUSD 291122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 0.99% to $0.00000917. A mixed start to the day saw SHIB fall to an early low of $0.00000899 before rising to a high of $0.00000927.

SHIB finds support.
SHIBUSD 291122 Daily Chart

Technical Indicators

SHIB needs to avoid the $0.00000907 pivot to target the First Major Resistance Level (R1) at $0.00000937. A return to $0.00000930 would signal a bullish afternoon session. However, SHIB will likely take its cues from the broader crypto market today.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000966. The Third Major Resistance Level (R3) sits at $0.00001025.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00000878 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000850 and the Second Major Support Level (S2) at $0.00000848. The Third Major Support Level (S3) sits at $0.00000789.

SHIB resistance levels in play.
SHIBUSD 291122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 100-day EMA, currently at $0.00000932. This morning, the 50-day EMA flattened on the 100-day EMA, while the 100-day EMA fell back from the 200-day EMA. The signals were mixed.

A hold above the 50-day EMA ($0.00000911) would support a breakout from the 100-day EMA ($0.00000932) and R1 ($0.00000937) to target R2 ($0.00000966). However, a fall through the 50-day EMA ($0.00000911) would bring S1 ($0.00000878) into view.

EMAs bearish.
SHIBUSD 291122 4 Hourly Chart

Crypto Market Daily Highlights – BNB Led a NASDAQ Fueled Pullback

Key Insights:

  • It was a bearish Monday session for the crypto top ten. Binance coin (BNB) led the way down for a second consecutive session.
  • Risk aversion stemming from China protests sent the crypto market into the red, with news of BlockFi filing for bankruptcy adding to the negative sentiment.
  • The crypto market cap fell by $13.6 billion to end the day at $776.2 billion.

It was a bearish Monday session for the crypto top ten. BNB led the way down for a second day. Despite the bearish sentiment, BTC avoided sub-$16,000 for a sixth consecutive session.

Trading volumes rose on Monday as investors returned from the US Thanksgiving holidays. However, there was no post holiday cheer to support the crypto market, with news of protests across China weighing on investor appetite.

The NASDAQ Composite Index ended the day with a 1.58% loss.

News of BlockFi filing for bankruptcy added to the bearish mood. While attributing the bankruptcy filing to the demise of FTX, BlockFi stated,

“BlockFi has $256.9 million in cash on hand, which is expected to provide sufficient liquidity to support certain operations during the restructuring process.”

However, the Company did note that while the Company will focus on recovering all obligations owed, there will be delays in recoveries from FTX.

For the day ahead, US economic indicators, Fed chatter, and the NASDAQ Index will continue to provide direction. Investors will also need to monitor the crypto news for further updates on FTX-related news, including the BlockFi bankruptcy filing.

NASDAQ correlation.
Total Market Cap – NASDAQ – 291122 5 Minute Chart

Crypto Market Falls on NASDAQ Composite Pullback and BlockFi

On Monday, the crypto market rose to an early high of $793.8 billion before sliding to a late afternoon low of $763.7 billion. Late in the day, the crypto market cap briefly revisited $783 billion before sliding back to sub-$800 billion.

The bearish end to the day left the market cap down by $13.6 billion to $776.2 billion.

Crypto market sees more red.
Total Market Cap 291122 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It was a bearish Monday session for the crypto top ten.

BNB led the way down, sliding by 4.59%, with DOGE falling by 3.55%.

However, ADA (-2.24%), BTC (-1.36%), ETH (-2.18%), MATIC (-2.51%), and XRP (-1.91%) also struggled.

From the CoinMarketCap top 100, it was a mixed session.

Fantom (FTM) led the way, rallying by 10.13%, with apecoin (APE) and chainlink (LINK) seeing gains of 5.47% and 4.45%, respectively.

However, celo (CELO) led the way down, sliding by 13.23%, with UNUS SED LEO (LEO) and huobi token (HT) seeing losses of 9.90% and 8.92%, respectively.

24-Hour Liquidations Jump on Rising Volumes and Risk Aversion

Over 24 hours, total liquidations returned to normal levels alongside increased trading volumes. Risk aversion stemming from the China protests sent liquidations higher, with BlockFi’s bankruptcy filing contributing.

At the time of writing, 24-hour liquidations stood at $91.98 million, up from $39.52 million on Monday morning.

Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 34,626 versus 15,088 on Monday morning. Liquidations were up over 12 hours while down over four hours and one hour.

Crypto liquidations.
Total Crypto Liquidations 291122

According to Coinglass, 12-hour liquidations rose from $16.93 million to $30.63 million. Four-hour liquidations fell from $10.98 million to $1.53 million, with one-hour liquidations down from $9.67 million to $0.275 million.

The chart below shows market conditions throughout the session.

Crypto market steadied late in the session.
Total Market Cap 291122 Hourly Chart

Bitcoin’s Never-ending Search for a Bottom

Market Picture

Bitcoin closed last week with a new formal decline, losing $100 to $16490. At the start of trading on Monday, it loses another $360 to $16150. The week starts with a subdued risk appetite on global markets due to China unrest. Ethereum is performing better, adding 3.3% over the week to $1170. Other leading altcoins in the top 10 are changing from -2.5% (Polkadot) to 22.2% (Dogecoin).

Bitcoin daily chart

Total crypto market capitalisation, according to CoinMarketCap, was up 2% for the week, to $817bn. The cryptocurrency Fear & Greed Index rose to 28 by Monday, moving into “fear” versus “extreme fear” at 21 a week earlier.

Bitcoin has updated two-year lows below $15,500 in the past week on news of the possible bankruptcy of cryptocurrency lending service Genesis Global Capital. Bitcoin is under pressure from institutionalists whose risk appetite is firmly tied to stock markets. Bitcoin continues to look for a bottom from which it can push back, but the negative external backdrop is not yet conducive to buying.

News Background

According to Barron’s, Genesis Global Capital has been the subject of an investigation by US regulators over the suspension of withdrawals and the company’s liquidity crisis. It is unclear whether US federal regulators are involved, but at the very least, Alabama state supervisory agencies are investigating.

The DeFi-project Ardana team from the Cardano blockchain ecosystem has said it has suspended its development due to “uncertainty over funding and the timing of the project”.

Bloomberg, a news agency, reports that Cryptocurrency lender Matrixport is seeking funding for $100 million. And while the company says the moves have nothing to do with a lack of liquidity, investors are little reassured.

Analysis of Bitcoin transactions helped British police arrest over 100 people in the biggest anti-fraud operation in UK history, led by Scotland Yard. The iSpoof website was taken down, and phone fraud suspects were caught.

by FxPro’s Senior Market Analyst Alex Kuptsikevich

DOGE and SHIB Slide as Sentiment Turns Bearish on China News

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) bucked the broader market trend on Saturday, with DOGE revisiting $0.10 in a breakout session.
  • Elon Musk was behind the DOGE breakout, with Musk raising hopes of DOGE inclusion for Twitter 2.0 payments.
  • The technical indicators are mixed, with the DOGE EMAs signaling further price gains.

On Sunday, dogecoin (DOGE) jumped by 10.67%. Reversing a 0.34% loss from Saturday, DOGE ended the week up 28.09% to $0.0985. Notably, DOGE revisited $0.10 for the first time since November 8.

A bullish morning saw DOGE rally from an early low of $0.0887 to a late morning high of $0.1079. DOGE broke through the First Major Resistance Level (R1) at $0.0939 and the Second Major Resistance Level (R2) at $0.0989. However, coming up against the Third Major Resistance Level (R3) at $0.1079, DOGE fell back to end the day at sub-$0.100.

Shiba inu coin (SHIB) rose by 2.89% on Sunday. Reversing a 1.85% loss from Saturday, SHIB ended the week up 5.58% to $0.00000927.

Tracking DOGE, SHIB rose from an early low of $0.00000899 to a late morning high of $0.00000962. SHIB broke through the First Major Resistance Level (R1) at $0.00000928 and the Second Major Resistance Level (R2) at $0.00000956. However, a bearish end to the day saw SHIB fall back through the Resistance Levels to end the day at $0.00000927.

Elon Musk delivered a DOGE breakout session that provided SHIB with much-needed price support.

Musk posted a set of slides from a recent Twitter company talk on Sunday. A fourth slide, titled Payments, did not reveal which form of payments Twitter 2.0 will accept. However, investors took this as a cue for DOGE incorporation.

The latest tweet followed reports of Elon Musk planning to upgrade DOGE with the help of Vitalik Buterin.

However, the pair were on the defensive this morning. News of protests in China over COVID-19 lockdown measures weighed on riskier assets.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was down 5.08% to $0.0935. A bearish start to the week saw DOGE rise to an early high of $0.0996 before sliding to a low of $0.0918.

DOGE on the slide.
DOGEUSD 281122 Daily Chart

Technical Indicators

DOGE needs to move through the $0.0984 pivot to target the First Major Resistance Level (R1) at $0.1080. A return to $0.10 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at $0.11 and the Second Major Resistance Level (R2) at $0.1176. The Third Major Resistance Level (R3) sits at $0.1368.

Failure to move through the pivot ($0.0984) would leave the First Major Support Level (S1) at $0.0888 in play. Barring an extended sell-off, DOGE should avoid sub-$0.0850 and the Second Major Support Level (S2) at $0.0792.

The Third Major Support Level (S3) sits at $0.0600.

DOGE support levels in play.
DOGEUSD 281122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.0881. The 50-day EMA crossed through the 100-day EMA, with the 100-day EMA pulling away from the 200-day EMA. The price signals were bullish.

A hold above S1 ($0.0888) and the 50-day EMA ($0.0881) would support a run at R1 ($0.1080). However, a fall through S1 ($0.0888) and the EMAs would bring sub-$0.0800 and S2 ($0.0792) into view.

EMAs bullish.
DOGEUSD 281122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was down 4.75% to $0.00000883. A mixed start to the day saw SHIB rise to an early high of $0.00000936 before sliding to a low of $0.00000877.

SHIB fell through the First Major Support Level (S1) at $0.00000897.

SHIB in the red.
SHIBUSD 281122 Daily Chart

Technical Indicators

SHIB needs to move through S1 and the $0.00000929 pivot to target the First Major Resistance Level (R1) at $0.00000960 and the Sunday high of $0.00000962. A return to $0.00000950 would signal a bullish afternoon session. However, SHIB will likely take its cues from the broader crypto market today.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000992 and resistance at $0.0000100. The Third Major Resistance Level (R3) sits at $0.00001055.

Failure to move through S1 and the pivot would bring the Second Major Support Level (S2) at $0.00000866 into play. Barring an extended sell-off, SHIB should avoid sub-$0.00000850 and the Third Major Support Level (S3) at $0.00000803.

SHIB support levels in play.
SHIBUSD 281122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 50-day EMA, currently at $0.00000911. This morning, the 50-day EMA fell back from the 100-day EMA, with the 100-day EMA easing back from the 200-day EMA. The signals were bearish.

A move through S1 ($0.00000888) and the 50-day EMA ($0.00000911) would support a breakout from the 100-day EMA ($0.00000935) to target R1 ($0.00000960). However, failure to move through S1 and the 50-day EMA ($0.00000911) would leave S2 ($0.00000866) in view.

EMAs bearish.
SHIBUSD 281122 4 Hourly Chart

Crypto Market Daily Highlights – DOGE Bucked a Bearish Top Ten Session

Key Insights:

  • It was a mixed Sunday session for the crypto top ten. DOGE led the way, while BNB gave up some of Saturday’s gains.
  • A final-hour pullback left BTC in the red and the broader crypto market flat for the session, with the NASDAQ Mini opening the week in the red.
  • The crypto market cap fell by $1.0 to end the day at $789.8 billion.

It was a mixed Sunday session for the crypto top ten. DOGE led the way while BNB gave up some of Saturday’s gains. However, BTC had another range-bound session, moving within a $193 range. Notably, BTC avoided sub-$16,000 for a fifth consecutive session.

Trading volumes remained on the lower side at the end of the Thanksgiving holidays, leaving the broader crypto market to move sideways for a fifth consecutive session.

There were no updates on FTX to provide direction, though FTX contagion risk continued to subside. However, regulator risk remains a crypto market headwind, with uncertainty over the impact of the FTX collapse on the regulatory landscape likely to linger.

Following the Thanksgiving holidays, the NASDAQ Composite Index and FTX updates will provide direction today. This morning, the NASDAQ Mini was down 46.75 points, supporting the final-hour pullback.

However, with no US economic indicators for investors to consider, FOMC member chatter will need monitoring.

NASDAQ correlation.
Total Market Cap – NASDAQ – 281122 Daily Chart

Crypto Market Falls for the Second Time in Six Sessions

It is a relatively mixed Sunday session. The crypto market rose to a late high of $805.0 billion before sliding to a final-hour low of $785.5 billion.

Risk aversion stemming from China’s latest COVID-19 lockdown measures and reports of protests in response to the crackdown weighed on riskier assets.

The final-hour reversal left the crypto market at $$789.8 billion, down $1.04 billion for the day.

Crypto market sees red.
Total Market Cap 281122 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It was a mixed Sunday session for the crypto top ten.

DOGE jumped by 10.67% to lead the way, with XRP (+0.13%) finding support.

However, BNB led the way down, falling by 1.19%, with ADA (-0.32%), BTC (-0.15%), ETH (-0.95%), and MATIC (-0.23%) seeing modest losses.

From the CoinMarketCap top 100, it was a mixed session.

Celo (CELO) led the way, surging by 36.08%. Dogecoin (DOGE) and apecoin (APE) were among the front-runners. APE ended the day up by 10.56%.

However, chainlink (LINK) led the way down, falling by 3.50%, with curve DAO token (CRV) and nexo (NEXO) seeing losses of 2.55% and 3.31%, respectively.

24-Hour Liquidations Fell Further Despite Modest Rise in Volumes

Over 24 hours, total liquidations fell further from normal levels amid light trading volumes. At the time of writing, 24-hour liquidations stood at $39.52 million versus $41.75 million on Sunday morning.

Liquidated traders over the last 24 hours held steady. At the time of writing, liquidated traders stood at 15,088 versus 15,290 on Sunday morning. However, liquidations were up over four hours and one hour while down over 12 hours.

Crypto liquidations slide.
Total Crypto Liquidations 281122

According to Coinglass, 12-hour liquidations fell from $23.67 million to $16.93 million. Four-hour liquidations rose from $6.96 million to $10.98 million, with one-hour liquidations up from $0.632 million to $9.67 million, reflecting the final-hour pullback.

The chart below shows market conditions throughout the session.

Crypto market sees final hour reversal.
Total Market Cap 281122 Hourly Chart

Crypto Market Daily Highlights – BNB Led a Top Ten Mixed Session

Key Insights:

  • It was a mixed Saturday session for the crypto top ten. BNB led the way, while XRP gave up some of Friday’s gains.
  • Trading volumes continued the downward trend during the US Thanksgiving holidays, leaving investors with little direction.
  • The crypto market cap rose by a modest $1.9 billion to end the day at $790.8 billion.

It was a mixed Saturday session for the crypto top ten. XRP led the way down while BNB enjoyed a breakout session. However, BTC had another range-bound session, moving within a $308 range. Notably, BTC avoided sub-$16,000 for a fourth consecutive session.

Trading volumes fall.
CMC Trading Volumes 271122

Trading volumes continued to fall over the Thanksgiving holidays, leaving the broader crypto market to move sideways. Adding to the lower volumes was likely investor wait-and-see sentiment before FTX updates hit the news on Monday.

In another quiet crypto session, there were no updates on FTX to provide direction nor cues from the NASDAQ Composite Index. However, uncertainty over the extent of the fallout from the FTX collapse continued to leave investors on the sidelines.

The crypto market remains at risk of another sharp decline in the event of an FTX-fueled crypto exchange collapse. However, FTX assets, including the $1.24 billion cash reserve, will cushion the blow, which has delivered BTC price support at $16,000.

After three quiet sessions, with the downward trend in trading volumes, the NASDAQ mini could reignite interest in the final hour of today’s session. The crypto market has recoupled with the NASDAQ Composite Index after the FTX-forced decoupling earlier in the month.

NASDAQ correlation.
Total Market Cap – NASDAQ – 271122 Daily Chart

Crypto Market Moves Sideways Over Thanksgiving Holidays

It is a relatively choppy Saturday session. The crypto market rose to an early afternoon high of $807.6 billion before sliding to a late low of $784.5 billion.

However, finding late support, the crypto market wrapped up the day in positive territory, rising by $1.9 billion to end the session at $790.8 billion. The modest gain left the market down $181 billion for November.

Crypto market finds modest suppport.
Total Market Cap 271122 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It was a mixed Saturday session for the crypto top ten.

BNB rallied by 3.53% to lead the way, with ETH (+0.51%) and MATIC (+0.20%) also finding support.

However, XRP led the way down, sliding by 2.93%, with BTC (-0.36%) and DOGE (-0.34%) ending the day in negative territory. ADA ended the day flat.

From the CoinMarketCap top 100, it was a mixed session.

Apecoin (APE) led the way, rallying by 10.56%, with aptos (APT) and huobi token (HT) seeing gains of 7.45% and 6.67%, respectively.

However, binaryX (BNX) and GMX (GMX) ended the day with losses of 4.64% and 4.38%, respectively. Trust wallet token (TWT) fell by 3.95%.

24-Hour Liquidations Remained at Low Levels as Trading Volumes Fall

Over 24 hours, total liquidations slipped to lower levels amid lighter trading volumes. At the time of writing, 24-hour liquidations stood at $41.75 million versus $45.76 million on Saturday morning.

Liquidated traders over the last 24 hours also held steady. At the time of writing, liquidated traders stood at 15,290 versus 15,477 on Saturday morning. However, liquidations were up over 12 and four hours while down over one hour.

Crypto liquidations fall.
Total Crypto Liquidations 271122

According to Coinglass, 12-hour liquidations rose from $16.36 million to $23.67 million, with four-hour liquidations up from $5.14 million to $6.96 million. One-hour liquidations fell from $2.27 million to $0.632 million.

The chart below shows market conditions throughout the session.

Crypto market finds late support.
Total Market Cap 271122 Hourly Chart

DOGE Bulls Target $0.100 on Elon Musk and Vitalik Buterin Chatter

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) bucked the broader market trend on Friday, with DOGE revisiting $0.0916 in a breakout session.
  • Elon Musk was behind the DOGE breakout, with reports of Musk planning to partner with Vitalik Buterin to upgrade DOGE the key driver.
  • The technical indicators are turning bullish, with the EMAs signaling further price gains.

On Friday, dogecoin (DOGE) rallied by 9.71%. Reversing a 0.49% loss from Thursday, DOGE ended the day at $0.0893. Notably, DOGE revisited $0.09 for the first time in nine sessions.

A mixed start to the day saw DOGE fall to an early low of $0.0806. Steering clear of the First Major Support Level (S1) at $0.0799, DOGE rallied to a late morning high of $0.0916. DOGE broke through the day’s Major Resistance Levels before falling back through the Third Major Resistance Level (R3) at $0.0894 to end the day at $0.0893.

Shiba inu coin (SHIB) rose by 1.89% on Friday. Reversing a 0.44% loss from Thursday, SHIB ended the day at $0.00000918.

A bearish start to the day saw SHIB fall to an early morning low of $0.00000885. Finding support at the First Major Support Level (S1) at $0.00000887, SHIB surged to a late morning high of $0.00000948. SHIB broke through the First Major Resistance Level (R1) at $0.00000917 and the Second Major Resistance Level (R2) at $0.00000934.

However, SHIB slid back to sub-$0.00000910 before a late move back through R1 to end the day at $0.00000918.

While the US Thanksgiving holidays left crypto trading volumes lower, Dogecoin news delivered a breakout DOGE session.

On Friday, reports of Elon Musk planning to upgrade DOGE with the help of Vitalik Buterin delivered support. David Gokhshtein fueled speculation of a Mush-Buterin collaboration, saying,

“I feel that we’ll all see Vitalik and Elon working together to somehow upgrade DOGE.”

Gokhshtein went on to say,

“They won’t work on Bitcoin – well because Vitalik tried that in the past and was kicked and Elon is interested in turning something that started off as a joke into something serious.”

Momentum from Friday spilled over to today’s session, with DOGE and SHIB on the move.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 5.04% to $0.0938. A bullish start to the day saw DOGE rise from an early low of $0.0890 to a high of $0.0955.

DOGE broke through the First Major Resistance Level (R1) at $0.0937.

DOGE on the move.
DOGEUSD 261122 Daily Chart

Technical Indicators

DOGE needs to avoid a fall through R1 and the $0.0872 pivot to retarget the Second Major Resistance Level (R2) at $0.0982. A return to $0.0940 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at $0.100. The Third Major Resistance Level (R3) sits at $0.1092.

A fall through R1 and the pivot ($0.0872) would bring the First Major Support Level (S1) at $0.0827 into play. Barring an extended sell-off, DOGE should avoid sub-$0.0800 and the Second Major Support Level (S2) at $0.0762. However, further signs of FTX contagion would bring sub-$0.0800 into view.

The Third Major Support Level (S3) sits at $0.0652.

DOGE resistance levels in play.
DOGEUSD 261122 Hourly Chart

The EMAs sent a bullish signal, with DOGE sitting above the 200-day EMA, currently at $0.0862. The 50-day EMA narrowed to the 100-day EMA, with the 100-day EMA closing in on the 200-day EMA. The price signals were bullish.

A bullish cross of the 100-day EMA through the 200-day EMA would support a breakout from R1 ($0.0937) to bring R2 ($0.0982) and $0.10 into play. However, a fall through the 200-day ($0.0862) and 100-day ($0.0859) EMAs would bring the 50-day EMA ($0.0834) into view.

EMAs turning bullish.
DOGEUSD 261122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 1.42% to $0.00000931. A bullish start to the day saw SHIB rise from an early low of $0.00000917 to a high of $0.00000937.

SHIB finds support.
SHIBUSD 261122 Daily Chart

Technical Indicators

SHIB needs to avoid the $0.00000917 pivot to target the First Major Resistance Level (R1) at $0.00000949. A return to $0.00000940 would signal a bullish afternoon session. However, any further contagion news would test buyer appetite.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000980 and resistance at $0.0000100. The Third Major Resistance Level (R3) sits at $0.00001043.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00000886 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000880 and the Second Major Support Level (S2) at $0.00000854.

The Third Major Support Level (S3) sits at $0.00000791.

SHIB resistance levels in play.
SHIBUSD 261122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 100-day EMA, currently at $0.00000939. This morning, the 50-day EMA narrowed to the 100-day EMA, while the 100-day EMA eased back from the 200-day EMA. The signals were mixed.

A move through the 100-day EMA ($0.00000939) would support a breakout from R1 ($0.00000949) to give the bulls a run at R2 ($0.00000980) and the 200-day EMA ($0.0000993). However, a fall through the 50-day EMA ($0.00000905) would bring S1 ($0.00000886) into view.

EMAs bearish.
SHIBUSD 261122 4 Hourly Chart

 

Crypto Market Daily Highlights – DOGE and XRP Buck the Top Ten Trend

Key Insights:

  • It is a mixed Friday session for the crypto top ten. DOGE leads the way, with XRP also bucking the broader market trend.
  • A quiet crypto session, with a sharp decline in trading volume over Thanksgiving, left the NASDAQ Composite Index to weigh on sentiment.
  • The crypto market cap is down by a modest $2.8 billion to $789.1 billion, with 45 minutes of the session left.

It is a mixed Friday session for the crypto top ten. DOGE leads the way, with XRP also finding support. However, BTC joined the broader market in the red while avoiding sub-$16,000 for the third consecutive session.

With the US Thanksgiving holiday, it was a quiet Friday session, with trading volumes down through the afternoon session.

Graphical user interface, chart, histogram Description automatically generated There were no material updates on FTX to provide direction, leaving the NASDAQ Composite Index to test buyer appetite. In a shortened holiday session, the NASDAQ fell by 0.52%. Disappointing Black Friday updates and concerns over the fresh wave of COVID-19 cases in China weighed.

NASDAQ correlation.
Total Market Cap – NASDAQ – 261122 5 Minute Chart

While FTX contagion eased this week, investors need to wait for updates from FTX debtors. News of new asset discoveries would further reduce FTX contagion risk. However, contagion risk will remain over the near term, which will likely continue to peg the market back from a full recovery.

Investors await the identities of FTX’s creditors, which the Court agreed to redact this week.

Today, the crypto news wires will remain the investor focal point.

Crypto Market Set to End Three-Day Winning Streak on Thin Trading

It is a bearish Friday session. The crypto market slid to a mid-morning low of $776.6 billion before rebounding to a high of $798.5 billion.

However, easing back through the afternoon session, the crypto market is down $2.8 billion to $789.1 billion, with 45 minutes remaining. The market is down $182 billion for November.

Crypto market in the red.
Total Market Cap 261122 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It is a mixed Friday session for the crypto top ten.

DOGE leads the way, rallying by 9.83%, with XRP up by 1.85%.

However, the rest of the top ten are in the red, with 45 minutes (UTC) of the session remaining.

ADA (-0.32%), BTC (-0.43%), ETH (-0.28%), and MATIC (-0.81%) are heading for daily losses. BNB is currently flat for the session.

From the CoinMarketCap top 100, it is a mixed session.

Huobi token (HT) leads the way, gaining 17.6%, with DOGE and casper (CSPR) up by 9.83% and 3.7%, respectively.

However, binaryX (BNX) leads the way down, falling by 8.31%, with UNUS SED LEO (LEO) and kava (KAVA) down by 8.49% and 5.69%, respectively.

24-Hour Liquidations Hold Steady as Thanksgiving Lull Continues

Over 24 hours, total liquidations held steady on Friday amid lower trading volumes. At the time of writing, 24-hour liquidations stood at $45.76 million versus $43.88 million on Friday morning.

Liquidated traders over the last 24 hours also held steady. At the time of writing, liquidated traders stood at 15,477 versus 15,589 on Friday morning. However, liquidations were up over 12 and four hours and over one hour.

Crypto liquidations hold steady.
Total Crypto Liquidations 261122

According to Coinglass, 12-hour liquidations rose from $15.10 million to $16.36 million, with four-hour liquidations up from $1.33 million to $5.14 million. One-hour liquidations were up from $2.27 million.

The chart below shows market conditions throughout the session.

Crypto market range-bound in the US session.
Total Market Cap 261122 Hourly Chart

DOGE Eyes a Return to $0.0840 to Take a Run at $0.09 with SHIB in Tow

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) ended the day in the red on Thursday.
  • While FTX contagion risk continued to ease, the US Thanksgiving holidays left the markets flat through the afternoon session.
  • However, the technical indicators remain bearish, with the EMAs signaling a possible pullback.

On Thursday, dogecoin (DOGE) fell by 0.49%. Partially reversing a 4.20% gain from Wednesday, DOGE ended the day at $0.0814. Notably, DOGE avoided ending the day at sub-$0.0800 for the second consecutive session.

A choppy start to the day saw DOGE rise to an early high of $0.0842. Coming up against the First Major Resistance Level (R1) at $0.0843, DOGE fell to a late morning low of $0.0805. However, steering clear of the First Major Support Level (S1) at $0.0785, DOGE revisited $0.0817 before easing back.

Shiba inu coin (SHIB) slipped by 0.44% on Thursday. Partially reversing a 2.72% gain from Wednesday, SHIB ended the day at $0.00000901.

Tracking the broader market, SHIB rose to an early high of $0.00000920. Coming up against the First Major Resistance Level (R1) at $0.00000919, SHIB fell to a late morning low of $0.00000890. However, steering clear of the First Major Support Level (S1) at $0.00000883, SHIB revisited $0.00000906 before falling back to end the day in the red.

Investor angst towards the collapse of FTX continued to ease on Thursday. Reports of debtors identifying more assets raised hopes of limiting the impact of the collapse on creditors.

However, lower trading volumes left DOGE and SHIB relatively flat through the afternoon session. There were no updates from Twitter on the crypto integration project to deliver a boost.

On Thursday, news of a Travala promotion with SHIB failed to support a bullish session. SHIB announce the promotion on Twitter, saying,

“We are excited to announce an exclusive special from our friends at Travala. Use SHIB Token to book Travel on Travala! Click this link bit.ly/3EAlFxu to get FREE $35 Travel Credit to use on 3M+ hotels, flights & activities.”

With the US Thanksgiving Holidays in full swing, a lack of FTX news could leave DOGE and SHIB range-bound for a second session.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 1.11% to $0.0823. A mixed start to the day saw DOGE fall to an early low of $0.0806 before rising to a high of $0.0833.

DOGE finds support.
DOGEUSD 251122 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.0820 pivot to retarget the First Major Resistance Level (R1) at $0.0836 and the Thursday high of $0.0842. A return to $0.0840 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.0857. The Third Major Resistance Level (R3) sits at $0.0894.

A fall through the pivot ($0.0820) would bring the First Major Support Level (S1) at $0.0799 into play. Barring an extended sell-off, DOGE should avoid sub-$0.0790 and the Second Major Support Level (S2) at $0.0783. However, further signs of FTX contagion would bring sub-$0.0700 into view.

The Third Major Support Level (S3) sits at $0.0746.

DOGE resistance levels in play.
DOGEUSD 251122 Hourly Chart

The EMAs sent a bearish signal, with DOGE sitting at the 50-day EMA, currently at $0.0820. The 50-day EMA flattened on the 200-day EMA, while the 100-day EMA pulled back from the 200-day EMA. The price signals were mixed.

A breakout from the 50-day EMA ($0.0820) would support a move through R1 ($0.0836) to bring the 100-day EMA ($0.0856) and R2 ($0.0857) into play. However, a fall through the 50-day EMA ($0.0820) would give the bears a run at S1 ($0.0799).

EMAs bearish.
DOGEUSD 251122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was down 0.78% to $0.00000894. A mixed start to the day saw SHIB rise to an early high of $0.00000904 before falling to a low of $0.00000885.

The First Major Support Level (S1) at $0.00000887 limited the downside early on.

SHIB under pressure.
SHIBUSD 251122 Daily Chart

Technical Indicators

SHIB needs to move through the $0.00000904 pivot to target the First Major Resistance Level (R1) at $0.00000917 and the Thursday high of $0.00000920. A return to $0.00000920 would signal a bullish afternoon session. However, any further contagion news would test buyer appetite.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000934 and resistance at $0.00000950. The Third Major Resistance Level (R3) sits at $0.00000964.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.00000887 in play. Barring another extended sell-off, SHIB should avoid sub-$0.00000880 and the Second Major Support Level (S2) at $0.00000874.

The Third Major Support Level (S3) sits at $0.00000844.

SHIB support levels in play below the pivot.
SHIBUSD 251122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 50-day EMA, currently at $0.00000901. This morning, the 50-day EMA slipped back from the 100-day EMA, with the 100-day EMA falling back from the 200-day EMA. The signals were bearish.

A move through the 50-day EMA ($0.00000901) would support a breakout from R1 ($0.00000917) to give the bulls a run at R2 ($0.00000934) and the 100-day EMA ($0.0000942). However, failure to move through the 50-day EMA would leave S1 ($0.00000887) in view.

EMAs bearish.
SHIBUSD 251122 4 Hourly Chart

Crypto Market Daily Highlights – XRP Led a Mixed Top Ten Session

Key Insights:

  • It was a mixed Thursday session for the crypto top ten. XRP led the top ten, with a return to $0.40.
  • While easing, lingering FTX contagion risk tested buyer appetite at current levels.
  • The crypto market cap rose by a modest $3.8 billion to $791.9 billion.

It was a mixed Thursday session for the crypto top ten. XRP led the way, while MATIC struggled in a relatively range-bounds session. Notably, BTC avoided sub-$16,000 for the second consecutive session.

With the US Thanksgiving holiday, it was a quiet Thursday session. There were no material updates on FTX to provide direction.

While contagion risk has eased following news of the FTX cash holdings and investor interest in FTX assets, uncertainty over the outlook for FTX’s largest creditors remains.

Updates from FTX debtors will likely be a key influence near term. News of new asset discoveries would further ease FTX contagion risk. However, regulatory risk will need consideration as regulators continue to respond to the collapse of FTX.

For investors in search of a positive spin, Chainalysis made a comparison between FTX and Mt. Gox on Thursday. Chainalysis said,

“Big picture: FTX’s collapse has shaken the crypto market. But it is not the first time crypto has faced significant turmoil related to the collapse of an exchange.”

In comparing the collapse of FTX with Mt. Gox, Chainalysis went on to say,

“First thing we need to ask: How prominent were Mt. Gox and FTX within the overall crypto exchange ecosystem. In the year prior to its closure, Mt. Gox averaged a 46% share of all exchange inflows, while FTX averaged around 13%.”

Considering the dented confidence, another quiet day on the crypto news wires should deliver broader market support. The US markets are on a shortened session, with no economic indicators to distract investors.

NASDAQ correlation.
Total Market Cap – NASDAQ – 251122 Daily Chart

Crypto Market Rises for a Third Consecutive Day on Easing FTX Contagion

It was a bullish Thursday session. The crypto market rose to an early high of $802.9 billion before falling to an afternoon low of $780.5 billion. However, finding late support, the crypto market revisited $792 billion before easing back.

The bullish session left the market cap up $3.8 billion to $791.9 billion, reducing the November deficit to $188 billion.

Crypto market cap rises for a third session.
Total Market Cap 251122 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It was a mixed Thursday session for the crypto top ten.

XRP led the way, rallying by 5.38%, with ETH (+1.63%) and BNB (+0.47%) also avoiding the red.

However, MATIC led the way down, falling by 1.53%, with ADA (-0.63%), BTC (-0.04%), and DOGE (-0.49%) also seeing red.

From the CoinMarketCap top 100, it was a mixed session.

BinaryX (BNX) and GMX (GMX) led the way, with gains of 9.15% and 7.59%, respectively. XRP was also a front-runner.

However, apecoin (APE) led the way down, with a loss of 4.05%, with arweave (AR) and decred (DCR) falling by 3.49% and 3.30%, respectively.

24-Hour Liquidations Slide on Thanksgiving Holiday

Over 24 hours, total liquidations fell further back on Thursday. At the time of writing, 24-hour liquidations stood at $43.88 million versus $92.83 million on Thursday morning.

Liquidated traders over the last 24 hours also decreased. At the time of writing, liquidated traders stood at 15,589 versus 29,688 on Thursday morning. Liquidations were down over 12 and four hours and over one hour.

Crypto liquidations slide on Thanksgiving holiday.
Total Crypto Liquidations 251122

According to Coinglass, 12-hour liquidations fell from $48.10 million to $15.10 million, with four-hour liquidations down from $5.98 million to $1.33 million. One-hour liquidations were down from $3.58 million to $0.253 million.

The chart below shows market conditions throughout the session.

Crypto market range-bound in afternoon session.
Total Market Cap 251122 Hourly Chart

SHIB Targets $0.00000950 While DOGE Struggles to Revisit $0.0900

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) joined the broader crypto market in positive territory for a second consecutive session on Wednesday.
  • Improved sentiment towards FTX contagion risk and Fed monetary policy delivered DOGE and SHIB support.
  • However, the technical indicators remain bearish, with the EMAs signaling a possible pullback.

On Wednesday, dogecoin (DOGE) rose by 4.20%. Following a 5.23% rally on Tuesday, DOGE ended the day at $0.0818. Notably, DOGE avoided ending the day at sub-$0.0800 for the first time in four sessions.

A mixed start to the day saw DOGE fall to an early low of $0.0777. Steering clear of the First Major Support Level (S1) at $0.0744, DOGE rallied to an early high of $0.0835. DOGE broke through the First Major Resistance Level (R1) at $0.0911 before easing back.

However, a bullish afternoon saw DOGE break back through R1 to end the day at $0.0818.

Shiba inu coin (SHIB) rose by 2.72% on Wednesday. Following a 4.76% rally on Tuesday, SHIB ended the day at $0.00000905.

Tracking the broader market, SHIB fell to an early low of $0.00000874. Steering clear of the First Major Support Level (S1) at $0.00000838, SHIB rallied to an early high of $0.00000910. SHIB broke through the First Major Resistance Level (R1) at $0.00000904 before easing back to sub-$0.00000890.

However, a bullish end to the session saw SHIB break back through R1 to end the day at $0.00000905.

FTX contagion risk eased further on Wednesday, delivering DOGE, SHIB, and the broader market with support. Hopes of FTX assets limiting the impact on creditors continued to provide price support mid-week.

However, the FOMC meeting minutes also delivered support to riskier assets later in the day. The FOMC meeting minutes revealed members considering smaller rate hikes, supporting market bets of a December Fed pivot.

In response to the minutes, the probability of a 75-basis point December rate hike fell from 24.2% to 19.4%. The increased likelihood of a 50-basis point rate hike also delivered NASDAQ support. On Wednesday, the NASDAQ Composite Index rose by 0.99%.

FOMC meeting minutes deliver support.
DOGE – SHIB – NASDAQ – 241122

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 0.73% to $0.0824. A mixed start to the day saw DOGE fall to an early low of $0.0807 before rising to a high of $0.0842.

The First Major Resistance Level (R1) at $0.0843 capped the upside early on.

DOGE finds early support.
DOGEUSD 241122 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.0810 pivot to retarget the First Major Resistance Level (R1) at $0.0843. A move through the morning high of $0.0842 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.0868 and $0.0900. The Third Major Resistance Level (R3) sits at $0.0926.

A fall through the pivot ($0.0810) would bring the First Major Support Level (S1) at $0.0785 into play. Barring an extended sell-off, DOGE should avoid sub-$0.0770 and the Second Major Support Level (S2) at $0.0752. However, further signs of FTX contagion would bring sub-$0.0700 into view.

The Third Major Support Level (S3) sits at $0.0694.

DOGE resistance levels in play above the pivot.
DOGEUSD 241122 Hourly Chart

The EMAs sent a bearish signal, with DOGE sitting at the 50-day EMA, currently at $0.0821. The 50-day EMA flattened on the 200-day EMA, while the 100-day EMA pulled back from the 200-day EMA. The price signals were mixed.

A breakout from the 50-day EMA ($0.0821) would support a move through R1 ($0.0843) to bring the 100-day ($0.0861) and 200-day ($0.0864) EMAs into play. However, a fall through the 50-day EMA ($0.0821) would give the bears a run at S1 ($0.0785).

EMAs remain bearish.
DOGEUSD 241122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 0.66% to $0.00000911. A mixed start to the day saw SHIB fall to an early low of $0.00000898 before rising to a high of $0.00000920.

The First Major Resistance Level (R1) at $0.00000919 capped the upside early on.

SHIB makes an early move.
SHIBUSD 241122 Daily Chart

Technical Indicators

SHIB needs to avoid a fall through the $0.00000896 pivot to retarget the First Major Resistance Level (R1) at $0.00000919. A return to $0.00000920 would signal a bullish afternoon session. However, any further contagion news would test buyer appetite.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000932 and resistance at $0.00000950. The Third Major Resistance Level (R3) sits at $0.00000968.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00000883 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000880 and the Second Major Support Level (S2) at $0.00000860.

The Third Major Support Level (S3) sits at $0.00000824.

SHIB resistance levels in play above the pivot.
SHIBUSD 241122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 100-day EMA, currently at $0.00000947. This morning, the 50-day EMA narrowed to the 100-day EMA, while the 100-day EMA fell back from the 200-day EMA. The signals were mixed.

A move through the R1 ($0.00000919) would give the bulls a run at R2 ($0.00000932) and the 100-day EMA ($0.0000947). However, a fall through the 50-day EMA would bring S1 ($0.00000883) into view.

EMAs bearish.
SHIBUSD 241122 4 Hourly Chart

Crypto Market Daily Highlights – BNB Leads Bullish Top Ten Session

Key Insights:

  • It was a bullish Wednesday session for the crypto top ten. Binance coin (BNB) led the way, with DOGE and ETH also on the move.
  • FTX contagion risk eased further on Wednesday, supporting another bullish session.
  • The crypto market cap rose by $24.6 billion to $788.3 billion.

It was a bullish Wednesday session for the crypto top ten. BNB led the way, with ETH and DOGE also making moves. Notably, BTC avoided sub-$16,000 for the first time in three sessions.

The market focus remained on FTX contagion risk that continued to ease mid-week. Market reaction to the reports of FTX holding $1.24 billion in cash and market interest in FTX assets delivered further support on Wednesday.

On Wednesday, former FTX CEO Sam Bankman-Fried was back in the news. A letter to employees hit the news wires, with the former CEO raising hopes of saving the business. In the letter, Bankman-Fried wrapped up by writing,

“Maybe there still is a chance to save the company. I believe that there are billions of dollars of genuine interest from new investors that could go to making customers whole. But I can’t promise you that anything will happen because it’s not my choice.”

The upside came despite lawmakers calling for an investigation into FTX and calls for greater regulatory oversight.

It was also a bullish session for the US equity markets, with the NASDAQ Composite Index rising by 0.99%. The FOMC meeting minutes delivered support, with the Fed signaling a monetary policy pivot.

However, US economic indicators disappointed, limiting the upside for the NASDAQ. There are no US stats to consider today, with the US markets closed for Thanksgiving.

NASDAQ correlation.
Total Market Cap – NASDAQ – 241122 Daily Chart

Crypto Market Finds Further Support on Easing FTX Contagion Risk

It was a bullish Wednesday session. The crypto market fell to an early low of $759.2 billion before rising to a high of $794.9 billion.

Despite easing back from the day high, the crypto market rose by $24.6 billion (+3.22%) to end the day at $788.3 billion. The bullish session left the market cap down $185.5 billion for November.

Crypto market cap fell short of $800 bn.
Total Market Cap 241122 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It was a bullish Wednesday session for the crypto top ten.

BNB led the way, surging by 12.17%, with DOGE (+4.20%) and ETH (+3.99%) seeing solid gains.

ADA (+1.92%), BTC (+2.44%), MATIC (+1.41%), and XRP (+1.71%) trailed the front runners, however.

From the CoinMarketCap top 100, it was a bullish session.

Dash (DASH) and solana (SOL) led the way, rallying by 15.60% and 15.54%, respectively. Litecoin (LTC) was also a front-runner, rising by 11.84%.

Osmosis (OSMO) and trust wallet token (TWT) bucked the broader market trend, falling by 0.33% and 0.56%, respectively.

24-Hour Liquidations Hold at Sub-$100m on Second Bullish Session

Over 24 hours, total liquidations eased further back on Wednesday. At the time of writing, 24-hour liquidations stood at $92.83 million versus $99.83 million on Wednesday morning.

Liquidated traders over the last 24 hours also decreased. At the time of writing, liquidated traders stood at 29,688 versus 34,317 on Wednesday morning. Liquidations were up over one hour, while down over 12 and four hours.

Crypto liquidations fall.
Total Crypto Liquidations 241122

According to Coinglass, 12-hour liquidations fell from $63.26 million to $48.10 million, with four-hour liquidations down from $7.43 million to $5.98 million. However, one-hour liquidations were up from $3.13 million to $3.58 million.

The chart below shows market conditions throughout the session.

Crypto market finds strong late support.
Total Market Cap 241122 Hourly Chart

 

DOGE Eyes a Return to $0.0850 to Target $0.090 on Easing FTX Contagion

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) ended two-day losing streaks on Tuesday.
  • Twitter updates took a back seat as FTX contagion risk abated on news of FTX cash holdings and interest in FTX assets.
  • However, the technical indicators remain bearish, with the EMAs signaling further downside.

On Tuesday, dogecoin (DOGE) rallied by 5.23%. Reversing a 2.99% loss from Monday, DOGE ended the day at $0.0785. Notably, DOGE ended the day at sub-$0.0800 for the third consecutive session.

DOGE fell to a mid-morning low of $0.0729. Steering clear of the First Major Support Level (S1) at $0.0715, DOGE rose to an early afternoon high of $0.0796. DOGE broke through the First Major Resistance Level (R1) at $0.0774 before easing back. However, a late rally saw DOGE move back through R1 to end the day at $0.0785.

Shiba inu coin (SHIB) rose by 4.76% on Tuesday. Reversing a 4.21% slide from Monday, SHIB ended the day at $0.00000881.

Tracking the broader market, SHIB fell to a mid-morning low of $0.00000817. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB rallied to an early afternoon high of $0.00000883. SHIB broke through the First Major Resistance Level (R1) at $0.00000873 to end the day at $0.00000881.

FTX contagion risk eased on Tuesday, delivering DOGE, SHIB, and the broader market with support. News updates on FTX assets showed a sizeable cash balance that would soften the impact of the FTX bankruptcy on creditors.

Reports of Tron’s Justin Sun and Ripple’s Brad Garlinghouse showing interest in FTX assets also provided support.

However, Twitter news remained DOGE negative. There was no update on Twitter resuming the crypto integration project that would drive DOGE adoption.

This morning, investor sentiment improved further, however. FTX contagion risk remains the key driver. Downside risks will linger until the Court reveals the identity of FTX’s creditors. On Tuesday, the Judge presiding over the FTX bankruptcy proceedings agreed to redact the identity of FTX creditors.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 2.93% to $0.0808. A bullish start to the day saw DOGE rise from an early low of $0.0777 to a high of $0.0810.

DOGE on the move.
DOGEUSD 231122 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.0770 pivot to retarget the First Major Resistance Level (R1) at $0.0811. A move through the morning high of $0.0810 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.0837 and $0.0850. The Third Major Resistance Level (R3) sits at $0.0904.

A fall through the pivot ($0.0770) would bring the First Major Support Level (S1) at $0.0744 into play. Barring another extended sell-off, DOGE should avoid sub-$0.0700. The Second Major Support Level (S2) at $0.0703 should limit the downside. However, further signs of FTX contagion would bring sub-$0.0700 into view.

The Third Major Support Level (S3) sits at $0.0636.

DOGE resistance levels in play.
DOGEUSD 231122 Hourly Chart

The EMAs sent a bearish signal, with DOGE sitting below the 50-day EMA, currently at $0.0822. The 50-day EMA slid back from the 200-day EMA, with the 100-day EMA converging on the 200-day EMA. The price signals were bearish.

A move through R1 ($0.0811) and the 50-day EMA ($0.0822) would give the bulls a run at R2 ($0.0837) and $0.0850. However, failure to move through the 50-day EMA would leave DOGE under pressure. A bearish cross of the 100-day EMA through the 200-day EMA would give the bears a run at sub-$0.0700.

EMAs bearish.
DOGEUSD 231122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 1.70% to $0.00000896. A bullish start to the day saw SHIB rise from an early low of $0.00000874 to a high of $0.00000900.

SHIB finds support.
SHIBUSD 231122 Daily Chart

Technical Indicators

SHIB needs to avoid a fall through the $0.00000860 pivot to target the First Major Resistance Level (R1) at $0.00000904. A return to $0.00000900 would signal a bullish afternoon session. However, any further contagion news would test buyer appetite.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000926 and resistance at $0.00000950. The Third Major Resistance Level (R3) sits at $0.00000992.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00000838 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000800 and the Second Major Support Level (S2) at $0.00000794.

The Third Major Support Level (S3) sits at $0.00000728.

SHIB resistance levels in play.
SHIBUSD 231122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 50-day EMA, currently at $0.00000902. This morning, the 50-day EMA eased back from the 100-day EMA, with the 100-day EMA falling back from the 200-day EMA. The signals were bearish.

A move through the 50-day EMA ($0.00000902) would support a breakout from R1 ($0.00000904) to give the bulls a run at R2 ($0.00000926). However, failure to move through the 50-day EMA would leave SHIB under pressure.

EMAs bearish.
SHIBUSD 231122 4 Hourly Chart

Crypto Market Daily Highlights – MATIC Leads a Bullish Top Ten

Key Insights:

  • It is a bullish Tuesday session for the crypto top ten. Polygon (MATIC) leads the way with 120 minutes (UTC) of the session left.
  • Crypto investor sentiment improved on news of FTX cash reserves and market interest in FTX assets, which eased FTX contagion fears.
  • The crypto market cap is up by $15.6 billion to $760.7 billion.

It is a bullish Tuesday session for the crypto top ten, with 120 minutes (UTC) remaining. MATIC leads the way, with BTC recovering from sub-$16,000. Notably, BTC fell to sub-$16,000 for the second consecutive session and only the fourth time since 2020.

FTX contagion risk continued to weigh on the broader crypto market early in the day. However, news of FTX holding $1.24 billion in cash reserves eased investor angst, with reports of Tron CEO Justin Sun and Ripple CEO Brad Garlinghouse targeting FTX assets a positive.

The cash reserves and asset sales should ease the losses of the top 50 creditors, which have $3.1 billion in exposures to FTX.

It was also a bullish session for the US equity markets, with the NASDAQ Composite Index rising by 1.36%. Best Buy (BBY) delivered broad-based market support, with upbeat sales forecasts easing fears of a poor holiday season for retailers.

Later today, US economic indicators will draw attention, with private sector PMIs, consumer confidence, and weekly jobless claims in focus.

The stats will influence if crypto market conditions are orderly. FOMC member chatter will also need consideration as investors continue receiving mixed signals on the December move.

NASDAQ correlation.
Total Market Cap – NASDAQ – 231122 Daily Chart

Crypto Market Finds Support on Easing FTX Contagion Risk

It is a bullish Tuesday session. The crypto market fell to a late morning low of $732.2 billion before rising to a high of $768.9 billion.

With 120 minutes (UTC) of the session left, the crypto market cap is up $15.6 billion to $760.7 billion, while down $210 billion in November.

Crypto market finds support.
Total Market Cap 231122 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It is a bullish Tuesday session for the crypto top ten.

MATIC leads the way, rallying by 5.52%, with BNB (+4.53%), DOGE (+4.83%), and XRP (+3.61%) close behind.

ADA (+1.97%), BTC (+2.41%), and ETH (+2.06%) trailed the front runners, however.

From the CoinMarketCap top 100, it is a mixed session.

Curve DAO token (CRV) leads the way, surging by 26.54%, with Litecoin (LTC) and chainlink (LINK) seeing gains of 13.15% and 8.11%, respectively.

However, binaryX (BNX) leads the way down, sliding by 6.38%. Chain (XCN) and UNUS SED LEO (LEO) are also among the worst performers, falling by 2.91% and 2.51%, respectively.

24-Hour Liquidations Slides to Sub-$100m on Bullish Session

Over 24 hours, total liquidations fell back to sub-$100 million on Tuesday. At the time of writing, 24-hour liquidations stood at $99.83 million, down from $160.27 million on Tuesday morning.

Liquidated traders over the last 24 hours also decreased. At the time of writing, liquidated traders stood at 34,317 versus 54,017 on Tuesday morning. Liquidations were up over one hour, while down over 12 and four hours.

Crypto liquidations fall.
Total Crypto Liquidations 231122

According to Coinglass, 12-hour liquidations fell from $80.49 million to $63.26 million, with four-hour liquidations down from $25.14 million to $7.43 million. However, one-hour liquidations were up from $1.96 million to $3.13 million.

The chart below shows market conditions throughout the session.

Crypto market cap finds afternoon support.
Total Market Cap 231122 Hourly Chart

DOGE Risks a Return to Sub-$0.0700 on Twitter News and FTX Contagion

Key Insights:

  • Dogecoin (DOGE) and shiba inu coin (SHIB) saw red for a second consecutive session on Monday.
  • FTX contagion risk spread on news of Genesis warning of a bankruptcy threat, with Twitter updates also weighing.
  • The technical indicators remain bearish, with the EMAs signaling further downside.

On Monday, dogecoin (DOGE) fell by 2.99%. Following a 9.10% slide on Sunday, DOGE ended the day at $0.0746. Notably, DOGE ended the day at sub-$0.0800 for the second time since November 9.

A choppy start to the day saw DOGE rise to a mid-morning high of $0.0772. Falling short of the First Major Resistance Level (R1) at $0.0829, DOGE slid to a late low of $0.0713. DOGE briefly fell through the First Major Support Level (S1) at $0.0736 before ending the day at $0.0746.

Shiba inu coin (SHIB) slid by 4.21% on Monday. Following a 3.83% loss on Sunday, SHIB ended the day at $0.00000841.

SHIB rose to an early morning high of $0.00000879. Coming up short of the First Major Resistance Level (R1) at $0.00000911, SHIB slid to a late low of $0.00000822. SHIB fell through the First Major Support Level (S1) at $0.00000855 and briefly through the Second Major Support Level (S2) at $0.00000833 before ending the day at sub-$0.00000841.

FTX contagion risk continued to weigh on investor sentiment. Following news of Genesis freezing withdrawals, news of Genesis delivering a bankruptcy warning sent DOGE and SHIB into the red.

No immediate signs of Twitter resumping the crypto integration program was also DOGE negative.

This morning, DOGE and SHIB found early support. However, barring DOGE-friendly Twitter and Elon Musk announcements, FTX contagion will threaten further losses.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 1.74% to $0.0759. A bullish start to the day saw DOGE rise from an early low of $0.0744 to a high of $0.0762.

DOGE finds early support.
DOGEUSD 221122 Daily Chart

Technical Indicators

DOGE needs to avoid the $0.0744 pivot to target the First Major Resistance Level (R1) at $0.0774. A move through the Monday high of $0.0772 would signal a bullish afternoon session. However, the crypto news wires need to be crypto-friendly to support a breakout session.

In the event of an extended afternoon breakout session, the bulls could take a run at the Second Major Resistance Level (R2) at $0.0803. The Third Major Resistance Level (R3) sits at $0.0862.

A fall through the pivot ($0.0744) would bring the First Major Support Level (S1) at $0.0715 into play. However, barring another extended sell-off, DOGE should avoid sub-$0.0700 and the Second Major Support Level (S2) at $0.0685. Further signs of FTX contagion would bring sub-$0.0700 into view.

The Third Major Support Level (S3) sits at $0.0626.

DOGE resistance levels in play below the pivot.
DOGEUSD 221122 Hourly Chart

The EMAs sent a bearish signal, with DOGE sitting below the 50-day EMA, currently at $0.0835. The 50-day EMA slid back from the 200-day EMA, with the 100-day EMA converging on the 200-day EMA. The price signals were bearish.

A move through R1 ($0.0773) would give the bulls a run at R2 ($0.0803) and the 50-day EMA ($0.0835). However, failure to move through the 50-day EMA would leave DOGE under pressure. A bearish cross of the 100-day EMA through the 200-day EMA would give the bears a run at sub-$0.0700.

EMAs remain bearish.
DOGEUSD 221122 4 Hourly Chart

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 0.71% to $0.00000847. A bullish start to the day saw SHIB rise from an early low of $0.00000839 to a high of $0.00000854.

SHIB finds early support.
SHIBUSD 221122 Daily Chart

Technical Indicators

SHIB needs to avoid a fall through the $0.00000847 pivot to target the First Major Resistance Level (R1) at $0.00000873 and the Monday high of $0.00000879. A return to $0.00000870 would signal a bullish afternoon session. However, any further contagion news would test buyer appetite.

In the case of an extended rally, SHIB would likely test the Second Major Resistance Level (R2) at $0.00000904. The Third Major Resistance Level (R3) sits at $0.00000961.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00000816 into play. Barring another extended sell-off, SHIB should avoid sub-$0.00000800 and the Second Major Support Level (S2) at $0.00000790.

The Third Major Support Level (S3) sits at $0.00000733.

SHIB resistance levels in play above the pivot.
SHIBUSD 221122 Hourly Chart

The EMAs send a bearish signal, with SHIB sitting below the 50-day EMA, currently at $0.00000912. This morning, the 50-day EMA fell back from the 100-day EMA, with the 100-day EMA easing back from the 200-day EMA. The signals were bearish.

A move through R1 ($0.00000873) would give the bulls a run at R2 ($0.00000904) and the 50-day EMA ($0.00000912). However, failure to move through the 50-day EMA would leave SHIB under pressure.

EMAs bearish.
SHIBUSD 221122 4 Hourly Chart