NewsletterBitcoin, Ethereum Price Prediction- Will Bullish Recovery Continue For Market Leaders?
Bitcoin, Ethereum price prediction: Market leaders rejecting higher prices indicate the selling activity is currently intense at higher levels. As a result, these coins continue their sideways walk in a narrow range, indicating that market participants struggle with uncertainty. Moreover, such behavior in BTC and ETH prices has limited growth in majority of altcoins.
By 11:15 am EST Tuesday, the global crypto market stands at $852.96 billion, losing 0.56% in the last 24 hours. Moreover, the total crypto market volume tumbled 8.82% to hit the $36.15 Billion mark. The total volume in DeFi is currently at $2.67 Billion, which makes up 7.38% of the total crypto market 24-hour volume.
Top Gainers and Losers
Source- Coin360
Synthetix and Axie Infinity show the highest gains today among the top 100 cryptocurrencies. In the 24-hour, the AXS price surged 7.87% to reach the $8.96 mark; meanwhile, SNX price increased 4.65% to $1.91. On the other hand, the Kava and GMX Tokens are top losers, with KAVA price at $0.8821, down 6.58%, while GMX price at $51.01 is down 4.52%.
Bitcoin Price
Source- Coinmarketcap
On November 30th, a massive breakout from the $16900 local resistance triggered a sense of recovery in the crypto market. However, the Bitcoin price is trapped in a retest phase and has been wavering above the breached resistance since last week.
The BTC buyer’s failure to follow through with the bullish breakout reflects aggressive selling at higher levels. As a result, the coin price is wobbling in a narrow range of uncertainty stretched from $17200 to $16900.
The Bitcoin price currently trades at $16968, with an intraday loss of 0.03%.
Source- Tradingview
A daily candle closing from either of the mentioned levels will provoke a directional rally.
Thus, a breakout from the $17200 will signal the resumption of prior recovery and may surge prices to the $17700 mark, followed by $18500.
Ethereum price
Source- Coinmarketcap
The Ethereum price V-shaped recovery stalled at the $1300 resistance and went sideways immediately. Similar to Bitcoin, the ETH price resonates in a short-range spread from $1300 to $1240.
This altcoin currently trades at the $1252 mark, with an intraday loss of 0.5%. However, the lower price rejection candle is near the $1240 support, indicating the buyers are defending this level.
Source-Tradingview
Thus, traders are confident that the upcoming rally could enter near $1240, while safe traders could wait till the price breach the $1300 mark.
The $1300 breakout will replenish the bullish momentum for a price rally to $1370, followed by $1500.
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