Prediction for Bitcoin Price – Will the Bullish Recovery Continue for Market Leaders?
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Brian Bollinger Bitcoin, Ethereum price prediction. Market leaders rejecting higher prices mean that there is intense selling activity at higher levels. These coins are continuing to move in a narrow range, which indicates that market participants are uncertain. Moreover, such behavior in BTC and ETH prices has limited growth in majority of altcoins.advertisementBy 11:15 am EST Tuesday, the global crypto market stands at $852.96 billion, losing 0.56% in the last 24 hours. The total volume of the crypto market fell 8.82% to reach $36.15 billion. DeFi currently has a total volume of $2.67 billion, which is 7.38% of total crypto market 24-hour volumes. Top Gainers and losersSource- Coin360 Synthetix, Axie Infinity and Axie Infinity have the highest gains among the top 100 cryptocurrency. The AXS price jumped 7.87% to $8.96, while the SNX price climbed 4.65% to $1.91 in the same time. The top losers are the Kava and GMX Tokens. KAVA price is $0.8821, which is down 6.58%, and GMX price, $51.01, which is down 4.52%. Trending StoriesBitcoin price Source- CoinmarketcapOn November 30, a huge breakout from the $16900 local resistance caused a feeling of recovery in crypto market. The Bitcoin price is stuck in a retest phase, and has been fluctuating above the breached resistance for the past week. The failure of the BTC buyer to continue with the bullish breakout is a sign of aggressive selling at higher levels. The result is that the coin price is currently wobbling in a narrow range between $17200 and $16900. The Bitcoin price is currently trading at $16968 with an intraday loss 0.03%. Source: TradingviewThe Ethereum price Source-CoinmarketcapThe V-shaped recovery of the Ethereum price stopped at the $1300 resistance, and then went sideways immediately. The ETH price resonates in a short range spread between $1300 and $1240, similar to Bitcoin. The altcoin trades at the $1252 level, with a 0.5% intraday loss. However, the lower price rejection candle is near the $1240 support, indicating the buyers are defending this level.Source-TradingviewThus, traders are confident that the upcoming rally could enter near $1240, while safe traders could wait till the price breach the $1300 mark.advertisementThe $1300 breakout will replenish the bullish momentum for a price rally to $1370, followed by $1500.Share this article on:About 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. Close Story