Cryptocurrency Price Prediction: XRP, CHZ, BNB, FTM, MATIC

NEW DELHI (CoinChapter.com) — The crypto market registered a minor recovery on Nov 30, which might help the sector end Nov on a high note. Cryptocurrency tokens like XRP, MATIC, FTM, BNB, and CHZ registered minor to impressive gains on Nov 30.

Meanwhile, reports from China indicate the government has called for a crackdown on protestors. The protests against strict lockdown restrictions in several parts of the country have become violent.

Moreover, protestors have demanded freedom not only from harsh Covid restrictions but also from the strict censorship in the country. Therefore, an escalation in protests might impact the global stock markets.

Apart from China’s Covid protest issues, the crypto market continues to reel from the chapter 11 bankruptcy of BlockFi and its subsidiaries. As a result, the overall crypto market cap reached a low of $727.6 billion in Nov, a 29.4% drop from the month’s high of $1.03 trillion.

1. Ripple (XRP) Price Prediction

The Ripple native token, XRP, saw its price fail to confirm its breakout from an ascending triangle pattern. However, XRP bulls pushed the crypto token price back above the upper trendline of the bullish pattern.

A horizontal trendline that connects swing highs and an ascending trendline connecting swing lows forms an ascending triangle pattern. Volume helps determine if a breakout is strong. The Ripple token’s recent breakout happened at low volumes, which leaves the option of a pullback open for XRP price action.

Meanwhile, the momentum-oscillator MACD forecasts a bullish signal for the XRP price. Positive bars on the MACD histogram are expanding, indicating the MACD line (difference between 12-day and 26-day EMA) moves away from the MACD signal line (9-day EMA of MACD).

Expanding positive bars indicate increasing bullish momentum for the Ripple token.

Hence, bulls would need to push the XRP price above the immediate resistance from its 50-day EMA (purple wave) near $0.412 to sustain an uptrend. Additionally, a break and hold above immediate resistance might help the Ripple crypto price rise to resistance near $0.443 before retreating.

The long upper wick of Nov 30’s daily candle indicates a strong bearish presence near immediate resistance. Therefore, a rebuff from immediate resistance might result in the XRP price falling to test support near $0.39.

Breaching below immediate support could force the Ripple crypto token to drop 7% from current levels to reach $0.375 before recovering.

Meanwhile, the relative strength index for XRP remains neutral, with a value of 50.22 on the daily charts.

2. Chiliz (CHZ) Price Prediction

With the FIFA World Cup in Nov, traders expected the sports-themed crypto token Chiliz (CHZ) to make massive profits. Instead, CHZ’s price dropped to a monthly low of $0.156, down 51.2% from November’s high of $0.297.

On Nov 30, the Chiliz token jumped 3.1% to reach a high of $0.168, but aggressive selling from bears pared gains.

Also Read: Ethereum Price Recovery Underway, Why ETH Faces An Uphill Task

Moreover, the downtrend resulted in the crypto token price’s 20-day EMA (red wave) moving below its 50-day EMA (purple wave), 100-day EMA (blue wave), and 200-day EMA (green wave), forming three successive death crosses.

Traders consider the death cross an indicator of negative market sentiment and a sell signal. Hence, the bearish pressure could result in CHZ’s price falling to test support near $0.16. Breaching below immediate support might see the Chiliz crypto price drop to $0.147 before recovering.

The momentum oscillator MACD is moving towards bullish levels. Negative bars on the MACD histogram are contracting, indicating that the MACD line (difference between 12-day and 26-day EMA) is moving towards the MACD signal line (9-day EMA of MACD).

When the MACD line moves above its signal line, it will form a bullish crossover. As a result, buyers might enter the market, helping CHZ price challenge resistance near $0.172, which previously supported the Chiliz crypto price action between Aug 15 and Nov 25 this year.

A break and hold above immediate resistance might help CHZ price rise to resistance near $0.19 before downside corrections pare gains.

Meanwhile, the RSI for CHZ remains neutral, with a value of 39.06 on the daily timeframe.

3. Binance Coin (BNB) Price Prediction

Crypto exchange Binance’s native token BNB price jumped nearly 6% between Nov 29’s low of $289 to reach Nov 30’s high of $305.2, after dropping 4.6% on Nov 28. However, the long wicks on daily candles indicate that bears aggressively defend the 200-day EMA (green wave) resistance near $303.

Breaking and holding above the EMA resistance might help the Binance crypto price rise to resistance near $317 before recovering.

Meanwhile, despite the uptrend, the momentum oscillator MACD forecasts a bearish signal for the BNB token.

Positive bars on the MACD histogram are contracting, indicating that the MACD line (difference between 12-day and 26-day EMA) is moving towards the MACD signal line (9-day EMA of MACD). Contracting positive bars indicate declining bullish momentum for the Binance crypto.

As a result, BNB’s price might fall to test the support confluence of its 20-day EMA, 50-day EMA (purple wave), and 100-day EMA (blue wave) near $290. Breaching below the key support level might force the Binance coin token price to fall to support near $279 before recovering.

4. Fantom (FTM) Price Prediction

Fantom’s native token, FTM, has been having a bullish week. FTM price jumped more than 39% between Nov 28’s low of $0.177 to Nov 30’s high of $0.246.

Meanwhile, the momentum oscillator MACD signals rising bullish momentum for the FTM crypto token. Positive bars on the MACD histogram are expanding, indicating the MACD line (difference between 12-day and 26-day EMA) moves away from the MACD signal line (9-day EMA of MACD).

However, the Fantom crypto price’s 100-day EMA (blue wave) continues to rebuff FTM’s uptrend.

Also Read: Genesis Global Capital Explores Options To Avoid Bankruptcy

Therefore, FTM bulls would try to conquer resistance from its 100-day EMA near $0.25 to start an uptrend. Moreover, breaking above immediate resistance could help the FTM price rise to $0.28 before retreating.

Meanwhile, the relative strength index for the Fantom crypto remains neutral, clocking at 66.46 on the daily timeframe. However, the recent FTM rally has brought the RSI trendline dangerously close to the overbought threshold.

Traders consider overbought RSI levels a sell signal. Hence, the FTM price might succumb to profit booking by traders, falling to test support near $0.22. Breaching below immediate support could see the Fantom token drop nearly 18% to $0.197, a fall of nearly 18% from current levels.

5. Polygon (MATIC) Price Prediction

Polygon’s native token MATIC flipped its multi-month ascending trendline support into resistance on Nov 20. The Polygon crypto has been unable to move above the ascending trendline resistance.

MATIC’s price rose to a high of $0.877 on Nov 30, a jump of 4.6% from the day’s low of $0.837. However, the Polygon token failed to conquer the resistance confluence of the ascending trendline and its 50-day EMA (purple wave) near $0.89.

Meanwhile, the momentum oscillator MACD is moving towards bullish levels. Negative bars on the MACD histogram are contracting, indicating that the MACD line (difference between 12-day and 26-day EMA) is moving towards the MACD signal line (9-day EMA of MACD).

When the MACD line moves above its signal line, it will form a bullish crossover, which traders consider a buy signal. As buyers enter the market, MATIC’s price might exceed immediate resistance to challenge the 200-day EMA resistance (green wave) near $0.92 before retreating.

Meanwhile, the Polygon crypto token’s 20-day EMA (red wave) seems poised to needle below its 100-day EMA (blue wave), forming a bearish pattern called the death cross. Traders interpret the pattern as a sell signal and an indicator of negative market sentiment.

Hence, MATIC price risks testing support near $0.845 if the death cross forms. Additionally, breaching below immediate support could force the Polygon crypto token to drop to $081, a fall of nearly 7%.

Theta’s Metachain launch failed to add bullish tailwinds to its sails; What’s next? Read here to know more.