Bitcoin, Ethereum Price Prediction – This May Break Bitcoin’s Ongoing Consolidation – Crypto News – Crypto News
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Bitcoin, Ethereum Price Prediction – This May Break Bitcoin’s Ongoing Consolidation – Crypto News

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2 years ago

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Bitcoin, Ethereum price prediction: The traders’ sentiment remains uncertain and keeps the market leaders in a narrow consolidation. Therefore, the BTC and ETH are still struggling to follow a direction rally.

However, the global crypto market appreciated to $830.92 Billion by 1.54 Pm EST Tuesday, gaining 1.42% in the last 24 hours. However, the total crypto market volume plummeted 15.78% to reach the $43.2 Billion mark. The total volume in DeFi is currently at $2.78 Billion, making up 6.47% of the total crypto market 24-hour volume.

Top Gainers and Losers

Source- Coin360

The Huobi token and chain are the highest gains among the top 100 listed cryptocurrencies. In the last 24 hours, the HT price rose 9.91% to reach thx BNX, the current price of $6.98, whereas the XCN price jumped 9.28% to $45.22. On the flip side, Nexo and BinaryX are top losers, where the NEXO price at $0.639 shows a 4.22% fall, whereas the BNX price at $141.7 reflects a 3.9% drop.

Bitcoin Price

BTCSource- Coinmarketcap

The short-term trend in bitcoin price is sideways. Furthermore, the multiple short daily candles, with high wicks, also reflect high volatility in the market; however, despite the unstable market behavior, the BTC price strictly follows two technical levels.

Over the fortnight, a descending trendline has restricted coin prices from reaching higher levels. The multiple reversals from this resistance indicate the traders are aggressively selling at this trendline. On the flip side, the $15600 support has already rebounded the price twice.

Bitcoin Price PredictionSource- Tradingview

Thus, the bitcoin price currently trades at $163786, with an intraday gain of 1%. Nevertheless, for prices to escape the ongoing consolidation, it must overcome the aforementioned barriers.

ether price

ethSource- Coinmarketcap

On November 24th, the ether price gave a bullish breakout from a downsloping trendline. This bullish breakout sets the altcoin up for a potential upswing, but the sluggish market behavior prolongs the retest phase. The several higher price rejection candles during the retest indicate the high supply near the $1220 mark.

The ETH price currently trades at $1208 with an intraday gain of 3.47%. The strong bullish candle reattempted to overcome the immediate resistance of $1187. If the price manages to sustain above the breached level, the bulls may drive the price to the $1340 mark.

On a contrary note, if the buyers could not hold above the $1187 mark, the price could drop back to $1080.

Ethereum Price PredictionSource-Tradingview

Conversely, if the selling fails the retest phase with a 4-hour candle closing below the downsloping trendline, the Ethereum price may plunge back to $1080.

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian(at)coingape.com

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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