Bitcoin, Ethereum price prediction: The market leaders following yesterday’s gains have created a sense of relief rally in the crypto market. As a result, the major altcoins are in the green today, carrying bullish momentum forward.
Furthermore, at 10:23 am EST Wednesday, the global crypto market rose to $825.26B, gaining 2.87% an de leschten 24 Stonnen. However, the total crypto market volume tumbled 9.34% to hit the $61.03 Billion mark. The total volume in DeFi is currently at $3.91 Billion, which makes up 6.41% of the total crypto market 24-hour volume.
Top Gewënner a Verléierer
Quelle- Coin360
In the top 100 listed cryptocurrencies, the DASH and Kalytn tokens show the highest gains. As of press time, DASH price rose 15.6% to reach the $42 mark, while the KLAY price appreciated 14.10% to hit $0.1826. Conversely, the Trust Wallet Token and Chiliz are top losers, where the TWT price at $2.14 shows a 4.08% fall, whereas the CHZ price at $0.1794 reflects a 1.52% drop.
Bitcoin Mining Difficulty Hits All-Time High
Source- blockchain
The leading Bitcoin mining company D'Geschicht vun Core Scientific Inc. has warned of bankruptcy by the end of 2022. This crisis occurred as the network difficulty increased continuously and now reached an all-time high of 36.95 trillion. Moreover, the insufficient reward due to the falling bitcoin price and increasing competition also contribute to the issue.
Moreover, Glassnode recently highlighted in a Jeffrey that the “miner Hash Price has plunged to a new all-time low of $58.3k per Exahash per day”. Thus, with the overall market sentiment being bearish and fear of a recession still haunting investors, the mining industry could continue to suffer.
Bitcoin Präis
Quelle- Coinmarketcap
Déi lafend Konsolidéierung an Bitcoin Präis shaped a descending triangle pattern. Though this bearish continuation pattern encourages the resumption of prior downfall, in rare conditions, the coin price may break the overhead trendline to reflect the rising bullish momentum.
Thus, earlier today, the Bitcoin price surged 3% and pierced the pattern’s resistance trendline. The coin price currently trades at $16434 and tries to retest the breached resistance as potential support.
Quell- Tradingview
If the buyers manage to sustain above the downsloping trendline, the coin price may rise to a 10% high to reach the $18000 psychological resistance.
Op enger Géigendeel Notiz, eng deeglech Käerz, déi ënner der Trendline zoumaacht, wäert déi bullish Dissertatioun ongëlteg maachen.
Ethereum Präis
Quelle- Coinmarketcap
On November 22nd, the Ethereum coin price rebounded from $1080 support with a tweezer bottom candle pattern. This bullish reversal surged the prices 7.5% higher to hit the combined resistance of $1180 and a downsloping trendline.
d' der Altcom currently trades at $1170 and shows indecision for further action. However, the decreasing volume of activity during the bullish recovery indicates a lack of commitment from buyers. Therefore, if the selling pressure persists in the market, the Ethereum price could witness another reversal from the resistance trendline.
A potential downfall could dump the coin price back to $1080 support.
Quell-Tradingview
However, the buyers looking for an entry opportunity should wait for the price to break the overhead resistance.
Dee presentéierten Inhalt kann d'perséinlech Meenung vum Autor enthalen an ass ënner Zoustand vum Maart. Maacht Är Maartfuerschung ier Dir a Kryptowärungen investéiert. Den Autor oder d'Publikatioun huet keng Verantwortung fir Äre perséinleche finanzielle Verloscht.
Source: https://coingape.com/bitcoin-ethereum-price-prediction-btc-price-reclaims-16400-mark-more-recovery-head/