Bitcoin, Ethereum Price Prediction – This may break Bitcoin’s ongoing consolidation
Bitcoin and Ethereum price prediction: The sentiment of traders remains uncertain, which keeps the market leaders in narrow consolidation. The direction rally is still not clear for ETH and BTC.
The global crypto market rose to $830.92 billion by 1.54 Pm EST Tuesday. This is an increase of 1.42% over the previous 24 hours. The total crypto market volume fell 15.78% to $43.2 billion. DeFi currently accounts for 6.47% of total crypto market 24-hour volume at $2.78 Billion.
Top Gainers and Top Losers
The Huobi token, chain and chain have the highest gains of any 100 cryptocurrencies. The HT price increased 9.91% to $6.98, the current price. The XCN price jumped 9.28% to $45.22. The top losers are Nexo and BinaryX. The NEXO price of $0.639 shows a 4.22% drop, while the BNX price of $141.7 shows a 3.9% decline.
The Bitcoin price is trending sideways in the short-term. The market volatility is also evident in the multiple daily candles with high wicks. However, the BTC price follows two technical levels.
A descending trendline has prevented coin prices from rising over the past fortnight. Multiple reversals at this resistance suggest that traders are aggressively selling at the trendline. The $15600 support has already reverted the price twice.
The Bitcoin price is currently trading at $163786, with an intraday increase of 1%. However, prices must overcome the above barriers in order to escape the consolidation.
The Ethereum price made a bullish breakout on November 24th from a downward trendline. The bullish breakout positions the altcoin for a possible upswing. However, the slow market behavior prolongs this retest phase. The high supply at the $1220 mark is evident by the several higher price rejection candles during the retest.
The ETH price is currently trading at $1208, with an intraday gain 3.47%. The bullish candle was strong and attempted to break the $1187 resistance. If the price can hold above the breached level the bulls could drive it to the $1340 mark.
Contrary to popular belief, if buyers can’t hold above $1187, the price could drop to $1080.
If the selling fails to retest with a 4-hour candle closing under the downsloping trendline during the retest phase, the Ethereum price could plunge back to $1080.
About the author
The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.