Bitcoin, Ethereum (ETH) price prediction: A positive trend breakout of rising Bitcoin and ETH prices from their respective resistance suggests further growth in the cryptocurrency market This improving market sentiment drove a few major digital currencies higher, providing a relief rally to coin holders.
In addition, the global cryptocurrency market rose to $831.40 Billion by 7:14 am EST Thursday, gaining 0.3 percent in the last 24 hours. Nonetheless, the total cryptocurrency market volume plummeted 11.87 percent to reach the $$57.61 Billion mark. The total volume in Decentralized Finance is at present at $3.64 Billion, making up 6.31 percent of the total cryptocurrency market 24-hour volume.
Top Gainers and Losers
The Curve DAO and GMX crypto tokens show the highest gains between the top 100 listed digital currencies. In the last 24 hours, the CRV price rose 10.22 percent to $0.685, while the GMX price rose 7.41 percent to $45.22. On the other side, the EthereumPoW and Aptos are top losers, where the ETHW price at $3.33 shows a 5.48 percent fall, whereas the APT price at $4.28 reflects a 4.16 percent drop.
Bitcoin (BTC) Price
On November 23rd, the Bitcoin (BTC) price gave a positive trend breakout from the resistance trendline of a descending triangle pattern. A positive trend breakout from a bearish to continue pattern accentuates the buyer’s commitment to reach a higher level.
Nonetheless, the Bitcoin price at present trades at the $16558 mark with an intraday loss of 0.35%. This bearish candle is supposed to retest the breached resistance and check for price sustainability over it.
If the buying pressure persists, the potential rally will push the prices 7 percent high to the $18200-$18000 mark. Having stated that, the buyers may struggle at an in- in the middle of resistance of $17000 before reaching its target.
On a contrary note, a daily candle closing below the $16400-$16300 or trendline will offset the positive trend thesis.
Ethereum (ETH) price
The Ethereum (ETH) price rising for 3 consecutive days gave a positive trend breakout from combined resistance of $1185 and a downsloping trendline. During the previous two weeks, this dynamic resistance has assisted sellers in restricting positive trend growth and maintaining a steady downfall.
Thus, this positive trend breakout signifies a switch in market sentiment from selling on rallies to buying on dips. Nonetheless, the altcoin at present trades at the $1195 mark and shows a positive trend retest to the breached trendline in a 4-hour time frame chart.
If the ETH price sustains over the $1180 mark, the potential upswing may drive the prices 12 percent high to reach $1340.
Conversely, if the selling fails the retest phase with a 4-hour candle closing below the downsloping trendline, the Ethereum (ETH) price may plunge back to $1080.
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