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Price analysis 11/23: BTC, ETH, XRP, LINK, LTC, BCH, DOT, ADA, BNB, BSV

Published 11/23/2020, 01:32 PM
Updated 11/23/2020, 03:20 PM
Price analysis 11/23: BTC, ETH, XRP, LINK, LTC, BCH, DOT, ADA, BNB, BSV

Bitcoin (BTC) has been leading the current crypto rally for the past few weeks and this has boosted its dominance from 56% on Sep. 3 to 67% on Nov. 18. However, as Bitcoin nears its all-time high, it seems to be losing momentum as the action shifts to the altcoins. This has pulled Bitcoin’s dominance down to about 62.3%.

No long-term bull market can be led by one leader alone. There are periodic rotations when the leader enters a consolidation or a minor correction, while others take the lead. A similar rotation is currently playing out in the crypto markets, with Ether (ETH) and XRP leading the rally while Bitcoin digests its gains.

Daily cryptocurrency market performance. Source: Coin360
BTC/USD daily chart. Source: TradingView
ETH/USD daily chart. Source: TradingView
XRP/USD daily chart. Source: TradingView
LINK/USD daily chart. Source: TradingView
LTC/USD daily chart. Source: TradingView
BCH/USD daily chart. Source: TradingView
DOT/USD daily chart. Source: TradingView
ADA/USD daily chart. Source: TradingView
BNB/USD daily chart. Source: TradingView
BSV/USD daily chart. Source: TradingView

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