Published 1 hour ago
Bitcoin, Ethereum price prediction: the BTC and ETH price’s failure to sustain higher levels indicate uncertainty among market participants. A sideways trend in market leaders prompts the majority of major currencies to stall their recovery. As of 7.50 EST Wednesday, the global crypto market stands at $833.58 billion, down 1.56 % from yesterday.
However, the total crypto market volume has dropped 11.03% to $62.65 Billion over the last 24 hours. Currently, the total volume in DeFi comes in at $3.82 Billion, which adds up to 6.1% of the total crypto market 24-hour volume.
Top Gainers and Losers
In the last 24 hours, the highest gainer among the top 100 cryptocurrencies is Chiliz(CHZ) at$0.2281 with a price jump of 13.45%, followed by Stacks (STX) at $0.2383 and a 6.24% rise. Conversely, Trust Wallet Token and GMX are the top losers, with TWT price falling 13.04% to $1.97 and GMX price down 11.60%% to $39.73.
On November 14th, the Bitcoin price rebounded from $15825 with a Doji candle and significant volume. This bullish reversal rosed the prices 6% higher in the last three days, as it currently trades at $16700.
However, the higher price rejection in the last three days candle indicated that Bitcoin traders face high supply pressure from above. As a result, the coin is 1.17% down on intraday triggering a side price movement.
If the selling pressure persists, the Bitcoin prices may restest the weekly support of $15825.
The Ethereum price continues to hover above the $1220 support as buyers struggle to follow up for a bullish recovery. By the press time, the altcoin trades at the $1211 mark with an intraday loss of 2.54%.
The bearish candle shows a reattempt to break the $1220 support. A daily candle closing below the aforementioned support will indicate the sellers regain trend control and may prolong the prevailing downtrend.
Thus, the post-breakdown fall could tumble the prices 9.6% down to $1100, followed by a $1000 psychological level.
On a contrary note, if the buyers reverted the price higher to defend the $1220 support, the price will continue the consolidation phase.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.