bitcoin price prediction, ethereum price prediction, btc/usd, eth/usd

The leading cryptocurrency, Bitcoin, failed to break above the $16,800 level on November 27 and began to fall toward the 38.2% Fibonacci retracement level.

Similarly, the second most valuable cryptocurrency, Ethereum, has followed Bitcoin’s lead and is trading bearishly above $1,200.

Crypto Market Cap Update

Major cryptocurrencies were trading lower early on November 27 as the global crypto market cap fell by 0.16% to $840.32 billion on the previous day. 

Over the last 24 hours, overall crypto market volume fell 10% to $33 billion. DeFi’s total 24-hour volume is currently $2.74B, accounting for 8% of the crypto market. 

The overall volume of all stablecoins is now $31.69 billion, accounting for 93.28% of the total 24-hour volume of the crypto market.

Let’s take a look at the top 24-hour altcoin gainers and losers.

Top Altcoin Gainers and Losers

Apecoin (APE), UNUS SED LEO (LEO), and Huobi Token (HT) are three of the top 100 coins that have gained value in the last 24 hours. The APE price has soared by more than 15% to $2.75, the LEO price has grown by more than 8% to $4, and the HT price has increased by nearly 6.5%.

bitcoin price prediction, ethereum price prediction, btc/usd, eth/usd

Top Altcoin Gainers and Losers – Source: Coin360 

Trust Wallet Token (TWT),  BinaryX (BNX), and Synthetix (SNX) are three of the top 100 coins that have lost value in the last 24 hours, where TWT has lost over 8% to trade at $1.95, BNX is down 4% to trade at $148. At the same time, SNX’s price is down over 4% to trade at $1.68.

Ava Labs President Says One Crypto Firm Threatens Markets More Than FTX

Ava Labs’ president John Wu has recently stated that the collapse of a major digital asset lender would have more severe consequences for the crypto markets than the recent FTX debacle.

According to a recent interview conducted by Bloomberg, Ava Labs president John Wu cites the potential collapse of Genesis Global Capital as a greater threat to the digital asset markets than the failure of the FTX exchange.

“In my seat, I actually think Genesis is a bigger issue in terms of the capital markets of crypto than even FTX.

Genesis was the largest lender out there. They’ve done unsecure as well as collateralized lending. There’s really no one else doing that lending. Without them in the markets, all the people in the value chain, all the companies like market makers who need to borrow in order to do market making, you’re going to see liquidity get sapped out of the markets, spreads widen, no investors want to come in and you have a vicious cycle.

So, Genesis is a very important part of the crypto capital markets.”

Earlier in November, news surfaced that Genesis had temporarily blocked withdrawals due to liquidity issues following the collapse of FTX and crypto hedge fund Three Arrows Capital (3AC).

Another report from last week indicated that before Genesis froze withdrawals, it had asked investors for a $1 billion loan to cover an unexpected expense.

Binance releases its Proof-of-Reserve

After the FTX went down, Binance CEO Changpeng Zhao (CZ) issued a rallying cry, demanding that other exchanges show their financial strength. Binance released its Proof-of-Reserve (PoR) mechanism on November 25 after most CEXs adopted his recommendations. 

The publication of a Merkle Tree Proof-of-Funds came two weeks after the exchange initially promised to do so. There has been pushback to Binance’s most recent move.

Jesse Powell, CEO, and co-founder of Kraken, stated that Binance lacked a full PoR. The entire Proof of Repossession (PoR) requires, as he tweeted, the sum of clients’ liabilities, cryptographic proof that each account was included in the sum, and signatures validating the custodian’s power over the wallets.

Other participants, Powell said, have been remiss in noting accounts with negative balances. Kraken’s Proof-of-Reserve is useful for comparing the company’s holdings to its debts.

CZ responded by emphasizing that the official statement’s reference to a third-party audit will suffice to allay Powell’s worries about the PoR. Binance’s latest move, if carried out correctly, has the potential to restore faith in centralized exchanges and cryptocurrency.

Despite these efforts, Bitcoin and other leading currencies are declining. Let’s look at Bitcoin price prediction. 

Bitcoin Price 

The current Bitcoin price is $16,558 and the 24-hour trading volume is $18 billion. During the last 24 hours, the BTC/USD pair has dropped nearly 0.50%, while CoinMarketCap currently ranks first with a live market cap of $318 billion, down from $348 billion yesterday. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,217,818 BTC coins.

bitcoin price prediction, ethereum price prediction, btc/usd, eth/usd

Bitcoin Price & Tokenomics – Source: coinmarketcap

On Sunday, the BTC/USD is trading choppy, with a narrow trading range of $16,300 to $16,800. In order to forecast future trends, Bitcoin must first break through the previously mentioned trading range. 

In the 4-hour timeframe, the BTC/USD pair is currently holding above the 23.6% Fibonacci retracement level of $16,400, and a breakout of this level can determine the next trading range. 

If Bitcoin breaks below the 23.6% Fib level, it will be exposed to the 38.2% Fib level of $16,275 and the 61.8% Fib level of $15,900.

bitcoin price prediction, ethereum price prediction, btc/usd, eth/usd

Bitcoin Price Chart – Source: Tradingview

Leading technical indicators, such as the RSI and MACD, are oscillating between buying and selling ranges, indicating investor indecision. The 50-day moving average, on the other hand, is keeping the BTC supported near $16,450, indicating a high likelihood of an uptrend continuation. 

If buyers enter the market, a bullish breakout of the $16,785 level could send BTC to $17,000 in a matter of days.

Ethereum Price 

The current price of Ethereum is $1,216, with a 24-hour trading volume of $4 billion. In the last 24 hours, Ethereum has lost nearly 0.50%. CoinMarketCap currently ranks #2, with a live market cap of $148 billion. It has a circulating supply of 122,373,866 ETH coins.

bitcoin price prediction, ethereum price prediction, btc/usd, eth/usd

Ethereum Price & Tokenomics – Source: coinmarketcap

Ethereum is trading slightly bullishly, having formed an upward channel that’s supporting it around $1,200 (psychological level). On the 4-hour chart, Ethereum is forming “higher highs and higher lows, ” signaling an increased bullish bias. 

The 50-day moving average line at $1,175 is suggesting a bullish trend, while the RSI and MACD indicators are also holding in a buying zone. 

bitcoin price prediction, ethereum price prediction, btc/usd, eth/usd

Ethereum Price Chart – Source: Tradingview

On the upside, the major resistance level for ETH remains $1,235, and a break above this could take it to the $1,250 level. On the downside, a bearish breakout of an upward channel at $1,200 could spark selling until the $1,185 and $1,145 levels are reached.

Huobi Token Storms 58%

Huobi Token is on the rise, having surged over 58% in the last seven days and over 4% in the last 24 hours. CoinMarketCap currently ranks #39, with a live market cap of $ 1 billion. There are 153,357,694 HT coins in circulation, with a maximum supply of 500,000,000 HT coins.

On the technical front, the HT/USD pair has risen above $7 and reached the 61.8% Fibonacci retracement level. At the same time, HT has crossed above the 50-day simple moving average line at $6.75, indicating a strong bullish trend.

bitcoin price prediction, ethereum price prediction, btc/usd, eth/usd

HT Price Chart – Source: Tradingview

The RSI and MACD, on the other hand, have entered the overbought zone, which is not a good sign for the bulls. As a result, failure to break above the $7.40 resistance level may result in a bearish correction to the $6 or $5.15 levels. 

Increased demand for HT, on the other hand, could cut through $7.40 resistance and expose price to $8.35 or $9.50 resistance levels. Let’s keep an eye on $7.40 because it’s a likely pivot point for HT.

Presale Cryptocurrency With Enormous Potential Gains

Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based trading intelligence platform that provides real-time analytics and social data to traders of all skill levels, allowing them to make better-informed decisions. The platform will go live in the first quarter of 2023, providing investors with information to help them make proactive trading decisions.

Dash 2 Trade, a platform for crypto trading intelligence and signals, has piqued investors’ interest after raising $7 million in just over a month. As a result, the D2T team has decided to call it quits at stage 4 and lower the hard cap target to $13.4 million. 

Dash 2 Trade has also been a success, with two exchanges (LBank and BitMart) promising to list the D2T token once the presale concludes. 1 D2T is currently valued at 0.0513 USDT, but this will rise to $0.0533 in the final stage of the sale. D2T has so far raised over $7 million by selling more than 82% of its tokens.

Find The Best Price to Buy/Sell Cryptocurrency

bitcoin price prediction, ethereum price prediction, btc/usd, eth/usd

Cryptocurrency Price Tracker – Source: Cryptonews

TECH NEWS RELATED

Former SEC Regulator: Binance's Proof of Reserves Audit 'How I Define Red Flag’

The compliance veteran said Binance’s report didn't address internal financial controls and that it lacks an “assurance conclusion.”

View more: Former SEC Regulator: Binance's Proof of Reserves Audit 'How I Define Red Flag’

Tron's Justin Sun 'Deploying More Capital' to Arrest Stablecoin USDD's Slide

Justin Sun posted a meme riffing on Terra's Do Kwon as Tron's native stablecoin USDD slipped to an all-time low on Monday.

View more: Tron's Justin Sun 'Deploying More Capital' to Arrest Stablecoin USDD's Slide

Crypto Mining Investments in Cuba Have Been Severely Impacted by Constant Power Blackouts

Sourc: AdobeStock / amixstudio Repeated blackouts in several parts of Cuba have reportedly made operating cryptocurrency mining rigs impossible – and mining unsustainable. Many Cubans have lost thousands of dollars that they had invested in crypto mining equipment and graphics cards, according to a report by CubaNet. Numerous young ...

View more: Crypto Mining Investments in Cuba Have Been Severely Impacted by Constant Power Blackouts

Punt Casino No Deposit Bonus and Review

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content. Punt Casino offers a simplistic yet reliable online gambling experience and support for multiple cryptocurrencies – including Bitcoin and Ethereum.  In this review, we evaluate whether any Punt Casino no deposit bonus codes ...

View more: Punt Casino No Deposit Bonus and Review

World Cup is more exciting with Welcome bonus up to 5,000 USDT from Coinplay

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Willemstad, Curaçao, 12th December, 2022, Chainwire Coinplay is a licensed crypto sportsbook which gives an opportunity to the player to place a bet with more than 40 cryptocurrencies. ...

View more: World Cup is more exciting with Welcome bonus up to 5,000 USDT from Coinplay

Arkansas Electric Utility to Offer Energy Sweetener to Battered Crypto Miners

A special electricity tariff is being offered to the crypto miners by the Arkansas’ biggest power utility.

View more: Arkansas Electric Utility to Offer Energy Sweetener to Battered Crypto Miners

Oryen Network Investors Confident After Audit and Community Growth Similar To Shiba Inu and Binance Coin

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content. The DeFi market is highly speculative, with many projects failing to live up to their expectations. This is especially true for projects with a lot of hype around their ICOs but fail to deliver on their ...

View more: Oryen Network Investors Confident After Audit and Community Growth Similar To Shiba Inu and Binance Coin

TrustDice Promo Codes and Review

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content. TrustDice is a crypto-centric casino and sportsbook that accepts dozens of digital assets and many thousands of gambling games and products.  In this guide, not only do we explore TrustDice promo code offers ...

View more: TrustDice Promo Codes and Review

S Korean Prosecutors Say Do Kwon Is in Serbia, Terra Luna Classic Takes a Tumble

US Senator Jon Tester Sees ‘No Reason’ Why Cryptocurrencies Should Exist – Regulation Coming?

South Korean Authorities Say Terraform Labs CEO Do Kwon in Serbia: Report

Ethereum Price Prediction – Can ETH Reach $3,000 by 2023?

Sam Bankman-Fried Wants to Start a New Business to Pay Back Victims of FTX Collapse – This is What You Need to Know

Dogecoin Plummets 9% as Crypto Markets Flash Red

Bitcoin Price and Ethereum Down 4%; Market Braces for US CPI & FOMC Rate Decision This Week

SEC Chair Gary Gensler Must Testify Before Congress, Says Rep. Tom Emmer

This Week on Crypto Twitter: Sam Bankman-Fried ‘Willing to Testify,' Crypto’s New Bottom Signal, Stablecoin Wars Rage On

'Abnormal' Altcoin Trading on Binance 'Just Market Behavior,' Says CEO

U.S. Senator Says He Sees 'No Reason Why' Crypto Exists

XRP Price Prediction as Ripple Sees Potential in Carbon Credit and Gaming NFTs – XRP to the Moon?

OTHER TECH NEWS

Top Car News Car News