Bitcoin and Ethereum Price Prediction – Altcoins Continue to Bleed as BTC and ETH Fall

Posted 7 hours ago

Bitcoin, Ethereum price prediction: BTC and ETH price exchanges in red keep the crypto market on edge. Some major cryptocurrencies continue to see losses close to their 2022 lows. The global crypto market fell to 847.10 billion as of 8:53 a.m. EST Saturday, a loss of 3.41% since yesterday.

Additionally, the total crypto market volume in the past 24 hours fell 26.35% to $85.02 billion. Currently, the total DeFi volume stands at $4.65 billion, which represents 4.52% of the total 24-hour crypto market volume.

Main winners and losers

cryptocurrency price heatmapSource – Coin360

The highest gainers among the top 100 cryptocurrencies are GMX at $39.20 with an increase of 12.44% in the last 24 hours; Meanwhile, Chain (XCN) is trading at $0.0504 with a rise of 4.76%. Alternatively, Solana and Cronos are the biggest losers, with SOL price falling 15.96% to seek $15.17 and CRO price falling 15.50% to settle at $0.07882.

bitcoin price

BTCSource – Coinmarketcap

On November 9, Bitcoin price gave a more momentum breakdown from the multi-year support at $18,400-$18,250. The loss of this support undermines the hopes of coin holders that BTC may have bottomed around the $18,500 mark.

Thus, this breakdown should replenish the trapped bearish momentum and the price should continue its downward spiral. At present, the coin price is trading at $16,845, with an intraday loss of $1.33.

However, the price is currently in a retesting phase and continues to oscillate between $18,250 and $16,000.

TradingView ChartSource – Tradingview

The daily slope of the RSI surged from the oversold region indicates that the recent recovery is a temporary pullback to support the price for longer.

Ether price

ETHSource – Coinmarketcap

The Ethereum price is moving quite positively against the Bitcoin rally. Amid the recent rally, the altcoin managed to reclaim the breached support of $1250. Lower price rejection candles trying to hold above the $1250 support bar indicate that the buyers are aggressively defending this level.

The altcoin is currently trading at $1260 with an intraday loss of 2.41%. However, this development should increase the relief rally to reach the psychological mark of $1400. However, this barrier is accompanied by a group of EMAs (20, 50 and 100) offering resistance to the upside growth.

Ethereum Price PredictionSource-Tradingview

Thus, the Ethereum price is more likely to retrace from the $1400 mark and resume the previous downtrend, aiming for the $1000 mark.

For the last 5 years, I have been working in journalism. I have been following Blockchain & Cryptocurrency for 3 years. I’ve written on a variety of different topics including fashion, beauty, entertainment, and finance. contact me at brian(at)coingape.com

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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