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Ethereum, Tezos, BAT Price Analysis: 01 December

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Source: Pixabay

Bitcoin Dominance stood steady at around 63% even as Ethereum and the altcoin market posted gains over the past few days and matched Bitcoin’s performance. Longer-term analysis pointed toward a possible pullback to $400 for Ether, while in the short-term ETH could see the $580 region retested as support. Tezos was trading within an ascending channel, and Basic Attention Token also showed strong bullishness.

Ethereum [ETH]

Ethereum, Tezos, BAT Price Analysis: 01 December

Source: ETH/USD on TradingView

Ethereum ascended past the psychological $600 level once more, after its recent drop to $480 being a minor speck in the rearview mirror for the bulls already.

From a technical standpoint, ETH was in a steady uptrend with a strong trading volume across the past couple of days to legitimize the rise past $550.

The RSI also indicated an uptrend in progress and showed bullish momentum with a value of 68.5. The Stochastic RSI was in overbought territory and the price may revisit $600 and $580 in the coming days.

The social layer model for Etheruem in 2021 with regard to ETH 2.0 can drive a new wave of adoption and impact price positively.

Tezos [XTZ]

Ethereum, Tezos, BAT Price Analysis: 01 December

Source: XTZ/USD on TradingView

XTZ was trading within an ascending channel and was headed to test resistance at $2.56. The OBV showed healthy buying volume behind the rise in price, while some trading sessions also saw notable volume to illuminate XTZ changing hands.

The drop from near $3 to $2.1 for XTZ in recent days has been retraced by close to 50%, which also showed that this was not a mere bounce for XTZ.

A close outside the channel could see XTZ drop to $2.24 level of support, and possibly as low as $2 if Bitcoin and Ethereum also saw selling pressure.

Basic Attention Token [BAT]

Ethereum, Tezos, BAT Price Analysis: 01 December

Source: BAT/USD on TradingView

Using BAT’s upward move from $0.175 to $0.289 in November, Fibonacci Retracement levels were drawn to highlight some important levels for BAT.

The price has risen past the 38.2% level and at the time of writing faced some resistance at $0.257. The MACD showed bullish momentum and BAT was likely to flip the 23.6% level to support and continue its upward march.

BAT could face some selling in the form of take-profit at the current level and dip to $0.248, the nearest liquidity pocket. Yet its outlook remained bullish for the coming week.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.