Bitcoin Price and Ethereum to Find Support at 38.2% Fibonacci Level; Litecoin rises 23%


On November 25, Bitcoin, the leading cryptocurrency, failed to break the $16,800 level and began its descent towards the 38.2% Fibonacci retracement level. Similarly, Ethereum, the second most valuable cryptocurrency, followed Bitcoin’s lead and is currently trading on the cheap towards $1,160.

The reason for the market’s risk-off sentiment may be related to the recent Hodlnaut updates.

The Commercial Affairs Department, the Singapore police’s white-collar crime unit, is investigating Singapore-based crypto lender Hodlnaut, which is currently under interim judicial management, Bloomberg reports.

Cryptocurrency market update

Major cryptocurrencies traded mixed on November 25 as the global cryptocurrency market cap fell 1% to $828.27 billion the previous day. In contrast, the total cryptocurrency market cap fell 47% to $48.87 billion in the last 24 hours.

The total volume in DeFi was $3.21 billion, accounting for 6% of the total 24-hour volume in the cryptocurrency market. The total volume of all stablecoins was $44.98 billion, accounting for more than 93% of the entire 24-hour volume of the cryptocurrency market.

Let’s take a look at the top gainers and losers of the altcoins over the past 24 hours.

Top Altcoin Gainers and Losers

BinaryX (BNX), Huobi Token (HT) and Stacks (STX) are three of the top 100 coins that have gained in value in the last 24 hours. BNX rose more than 7% to $169, HT rose more than 5% to $5.65, and STX rose nearly 1.5%.

Top Altcoin Gainers and Losers – Source: Coin360

UNUS SED LEO (LEO), Klaytn (KLAY) and Arweave (AR) are three of the top 100 coins that lost value in the last 24 hours, where LEO and KLAY lost more than 7% to trade at $3.88 and $0.17. according to. At the same time, AR fell more than 6% to $8.95.

Bitcoin Price

The current price of Bitcoin is $16,418, and the 24-hour trading volume is $24 billion. Over the past 24 hours, the BTC/USD pair is down about 1.5%, while CoinMarketCap is currently on top with a live market cap of $346 billion, up from $350 billion yesterday. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,216,412 BTC coins.

Bitcoin Price and Tokenomics – Source: coinmarketcap

Technically, despite the FOMC meeting minutes, Bitcoin has yet to break the $16,785 barrier. Investors are experiencing FUD as a result of the FTX and now Hodlnaut news.

The BTC/USD pair is currently falling towards the 38.2% Fibonacci retracement level at $16,300. In the 4-hour period, it has already crossed below the 50-day moving average, indicating a selling trend.

Bitcoin Price Chart – Source: Tradingview

Similarly, leading technical indicators such as RSI and MACD are also very close to entering the sell zone, and if this happens, BTC may break below the $16,300 mark and reach the $16,000 support level. The next support level is set at $15,600.

On the other hand, a break above the $16,785 level could push BTC towards $17,000 or $17,550.

Ethereum Price

The current price of Ethereum is $1177, with a 24-hour trading volume of $9 billion. Ethereum has gained more than 2% in the last 24 hours. CoinMarketCap currently ranks #2 with a live market cap of $144 billion. It has a circulating supply of 122,373,866 ETH coins.

Ethereum Price and Tokenomics – Source: coinmarketcap

On the 4-hour chart, Ethereum is trading bearish at $1,176 and has formed a bearish candlestick, indicating that the market is likely to be bearish.

ETH is currently testing the 50-day moving average at $1,175, and a bearish crossover below this level could lead to the 38.2% Fib level at $1,160.

A further break below this level could take ETH to $1,145 or $1,130, corresponding to the 50% and 61.8% Fibo levels, respectively.

Ethereum Price Chart – Source: Tradingview

On the upside, ETH’s key resistance remains at $1,216, and a break above it could take it to $1,250. Later today, investors should focus on the $1,160 level, as a break below this level could result in a bullish or reversal.

Litecoin rises 23%

The current price of Litecoin is $77, with a 24-hour trading volume of $1.1 billion. Litecoin has gained more than 1% in the last 24 hours, but its weekly gain is more than 23%. CoinMarketCap is currently ranked 13th with a live market cap of $5.5 billion.

It has a max supply of 84,000,000 LTC coins and a circulating supply of 71,687,456 LTC coins.

Some of the most prominent experts in the cryptocurrency market have commented on Litecoin’s recent price increase, predicting that the cryptocurrency will undergo a massive breakout after the “big rally” period before the upcoming halving event.

Pseudonymous crypto analyst Kaleo recently told his more than 500K Twitter followers that LTC’s recent surge appears to be the “real deal” because the cryptocurrency is “long overdue for a solid pump.”

According to Kaleo, the price of Litecoin has long troughs, during which it moves slowly downwards, followed by rapid peaks.

Another well-known cryptocurrency expert, Smart Contractor, observed LTC breaking out of its range after a “very significant rally”.

According to the analyst, BTC is falling about 500 days before the next halving event, and LTC’s spike is coming less than 230 days before its own halving.

Litecoin Price Prediction

On the technical front, Litecoin rejected below the $83.65 resistance level, and a close of the candle below this level led to a bearish correction.

Litecoin Price Chart – Source: Tradingview

Litecoin has already completed the 23.6% Fibonacci retracement and is now heading towards $74, which is extended by the 38.2% Fibonacci retracement. The LTC/USD pair is expected to break above the $74 or $68.75 (61.8% Fibo level) support levels.

Cryptocurrency Presale With Huge Potential Earnings

Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based trade intelligence platform that provides traders of all skill levels with real-time analytics and social data, enabling them to make more informed decisions.

Powered by Learn 2 Trade, D2T provides investors with market-based insights, trading signals and forecasting services. Under the cryptocurrency initiative, customers will be given enough information to make informed decisions.

D2T launched its token sale three weeks ago and raised more than $6.9 million. After the sale, D2T will be listed on LBank and BitMart, and a significant increase in the price of the asset is expected.

The current price of 1 D2T is 0.0513 USDT, but it is expected to rise to $0.0533 in the next phase of the sale and $0.0662 in the final phase.

Visit Dash 2 Trade now

Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews





Source link