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Bitcoin Price and Ethereum to Gain Support at 38.2% Fibonacci Level; Litecoin Jumps 23%

Bitcoin Price and Ethereum to Gain Support at 38.2% Fibonacci Level; Litecoin Jumps 23%

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On November 25, Bitcoin, the leading cryptocurrency, failed to break above the $16,800 level and started falling towards the 38.2% Fibonacci retracement level. Likewise, Ethereum, the second most valuable cryptocurrency, has followed Bitcoin’s lead and is currently trading at $1,160.

The reason for the market’s de-risking sentiment may be related to the recent Hodlnaut updates.

According to Bloomberg news, Singaporean crypto-lender Hodlnaut, which is currently under temporary judicial administration, is being investigated by Singapore police’s white-collar crime unit, the Commercial Affairs Division.

Crypto Market Cap Update

Major cryptocurrencies were trading unevenly early on November 25, with the market cap of global cryptocurrencies falling 1% to $828.27 billion the previous day. In contrast, the total volume of the crypto market fell by 47% in the last 24 hours to $48.87 billion.

The total volume of DeFi was $3.21 billion, which is 6 percent of the total 24-hour volume of the crypto market. The total volume of all stablecoins was $44.98 billion, which is more than 93% of the 24-hour volume of the entire crypto market.

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

Top Altcoin Winners and Losers

BinaryX (BNX), Huobi Token (HT) and Stacks (STX) are three of the top 100 coins that have gained value in the last 24 hours. BNX is up over 7% to $169, HT is up over 5% to $5.65 and STX is up almost 1.5%.

Top Altcoin Winners and Losers – Source: Coin360

UNUS SED LEO (LEO), Klaytn (KLAY) and Arweave (AR) are three of the top 100 losers in the last 24 hours, with LEO and KLAY losing over 7% to $3.88 and $0.17 respectively. respectively. Meanwhile, the price of AR is down more than 6% to $8.95.

Bitcoin price

Bitcoin’s current price is $16,418 with a 24-hour trading volume of $24 billion. Over the past 24 hours, the BTC/USD pair has fallen nearly 1.5%, while CoinMarketCap is currently in first place with a live market cap of $346 billion, up from $350 billion yesterday. It has a total supply of 21,000,000 BTC and a circulating supply of 19,216,412 BTC.

Bitcoin Price & Tokenomics – Source: coinmarketcap

Looking at the technicals, Bitcoin has yet to break the $16,785 mark, even though the FOMC meeting minutes are dodgy. Investors seem to be experiencing FUD as a result of the FTX and now Hodlnaut news.

The BTC/USD pair is currently falling towards the 38.2% Fibonacci retracement level at $16,300. On the 4-hour time frame, it has already crossed the 50-day moving average, indicating a sell bias.

Bitcoin Price Chart – Source: Tradingview

Accordingly, leading technical indicators such as RSI and MACD are very close to entering the sell zone, and if this happens, BTC may go below the $16,300 mark and reach the $16,000 support level. The next support level is $15,600.

On the other hand, a bullish break above the $16,785 level could expose BTC to the $17,000 or $17,550 levels.

Ethereum price

The current price of Ethereum is $1,177 with a 24-hour trading volume of $9 billion. In the last 24 hours, Ethereum has gained more than 2%. CoinMarketCap is currently ranked #2 with a live market cap of $144 billion. It has 122,373,866 ETH coins in circulation.

Ethereum Price & Tokenomics – Source: coinmarketcap

On the 4-hour chart, Ethereum is trading bearish at $1,176 and has formed a bearish candle, indicating a bearish bias in the market.

ETH is currently testing the 50-day moving average at $1,175, and a bearish split below this level could lead to the 38.2% Fib level at $1,160.

A further break below this level could take ETH to $1,145 or $1,130, which correspond to the 50% and 61.8% Fibo levels.

Ethereum Price Chart – Source: Tradingview

On the upside, ETH’s main resistance remains at $1,216, and a break above this could take it to the $1,250 level. Later today, investors should keep an eye on the $1,160 level as a break below this level could lead to a rally or vice versa.

Litecoin Jumps 23%

The current price of Litecoin is $77, with a 24-hour trading volume of $1.1 billion. Litecoin is up over 1% in the last 24 hours, but its weekly gain is over 23%. CoinMarketCap is currently ranked #13 with a live market cap of $5.5 billion.

It has a cap of 84,000,000 LTC coins and a circulating supply of 71,687,456 LTC coins.

Some of the most well-known experts in the cryptocurrency market have commented on Litecoin’s recent price increase, predicting that the cryptocurrency is going through a massive breakout after a “major build-up” ahead of its upcoming halving event.

Pseudonymous cryptoanalyst Kaleo recently told his more than 500,000 Twitter followers that LTC’s recent surge appears to be the “real deal” as the cryptocurrency has been “long overdue for a solid pump.”

According to Kaleo, the price of Litecoin has long waves, during which it moves slowly downwards, followed by rapid peaks.

“After a very substantial build-up,” Smart Contractor, another well-known cryptocurrency expert, noted that LTC appears to be breaking out of its range.

According to the analyst, BTC tends to bottom around 500 days before its next halving event, and LTC’s breakout occurs less than 230 days before its own halving.

Litecoin price prediction

Litecoin was rejected below the $83.65 resistance level on the technical front, and a close of the candle below this level triggered a bearish correction.

Litecoin Price Chart – Source: Tradingview

Litecoin has already completed the 23.6% Fibonacci retracement and is now falling towards $74, extended by the 38.2% Fibonacci retracement. The LTC/USD pair is expected to turn bullish above the $74 or $68.75 (61.8% Fibo level) support level.

Pre-sale cryptocurrency with huge potential profit

Dash 2 Trade (D2T)

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Developed by the Learn 2 Trade service, D2T provides investors with market-oriented insights, trading signals and forecasting services. According to the cryptocurrency initiative, customers are given enough information to make informed decisions.

D2T started its token sale three weeks ago and has raised over $6.9 million. After the pre-sale, D2T will be listed on LBank and BitMart, and the asset price is expected to rise significantly.

The current value of 1 D2T is 0.0513 USDT, but it is expected to rise to $0.0533 in the next selling phase and to $0.0662 in the last phase.

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Find the best price to buy/sell cryptocurrencies

Cryptocurrency price tracking – Source: Crypto news



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