NewsletterBitcoin, Ethereum Price Prediction- Altcoin Rises As BTC Regains Lost Ground
Bitcoin, Ethereum price prediction: The crypto market is back on its feet despite the recent FED interest hike of 75 bps. The BTC and ETH prices painted green today and recovered from the losses witnessed during the November 2nd interest hike sell-off.
At 9:17 am EST Friday, the crypto market stood at $1.04 Trillion, a 3.72% rise over the last day. Moreover, the total crypto market volume has reached $90.82 Billion, representing a loss of 12.41%. The total volume in DeFi is currently $6.63 Billion, 7.30% of the total crypto market 24-hour volume.
Top Gainers and Losers
Source- Coin360
Today, the top gainers among the top 100 cryptocurrencies are Loopring and OKB. By the press time, the LRC price trades at $0.3763 with a 40.09% gain in the last 24 hours, and the OKB price stands at $20.45with a 25.74% jump. On the flip side, the top losers are Dogecoin and Chain, where the DOGE price moves at $0.1215, registering a 6.01% loss, while the XCN price trades at $0.05094 with a 3.23% fall.
Bitcoin Price
Source- Coinmarketcap
The recent sideways march in Bitcoin price was actually responding to a flag pattern. In theory, this pattern offers a short such as this to replenish the bullish momentum. Despite a sudden burst of selling pressure due to a 75 bps interest hike, the BTC price managed to sustain this pattern.
As of now, the coin price trades at $20517 with an intraday gain of 1.55%. This green candle triggers the bullish continuation pattern with a breakout from the falling trendline. Currently, the Bitcoin price gives a retest to the breached trendline, checking or price sustainability.
Source- Tradingview
The post-retest rally may surge Bitcoin prices 5.5% higher to hit $22000.
Ethereum Price
Source- Coinmarketcap
The Ethereum price showcased the same flag pattern 4-hour time frame chart. The altcoin currently trades at $1615 with an intraday jump of 5.5%. Thus, with the long bullish candle and sufficient volume rise, the prices surpassed the pattern’s resistance trendline.
Currently, the post-retest rally registers a 3.3% rally, and sustained buying should lead the prices to $1800.
Source- Tradingview
The 4-hour RSI slope returns to the bullish region(above 50%), indicating that market confidence is turning for bullish growth.
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