Price Analysis 11/18: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, UNI, LTC

Bitcoin and some altcoins are struggling to break above their immediate resistance levels, indicating that the bears remain in full control.

Price analysis

Sentiment within the cryptocurrency ecosystem remains fragile as market participants assess the impact of the FTX crisis on various businesses within and outside the crypto industry. Trading firm QCP Capital said in its latest Telegram circular that crypto assets may continue to underperform well into the New Year. QCP predicts that Bitcoin (BTC) will dive to $12,000 and Ether (ETH) to $800.

Looking on the bright side, FTX might be the last major player to bite the dust during the current bear market cycle, according to CK Zheng, co-founder of crypto hedge fund ZX Squared Capital.

Zheng also added that institutional investors who have a long-term horizon can continue to invest in blockchain technology and select cryptocurrencies such as Bitcoin and Ethereum.

Daily Cryptocurrency Market Performance. Source: Coin360

When sentiment is bearish, rumors create panic among traders who abandon their holdings out of fear. Usually these occasions form a bottom. Traders can stay cautious and avoid placing big bets until the dust settles and the markets confirm a bottom.

What are the important levels to watch and which ones might suggest the correction may be over? Let's study the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

Bitcoin continues to trade b...