Bitcoin, Ethereum Price Prediction- Market Leaders On Bullish Streak Rose Altcoins Higher
Bitcoin, Ethereum price prediction: A bullish breakout of rising BTC and ETH prices from their respective resistance suggests further growth in the crypto market. This improving market sentiment drove several major cryptocurrencies higher, providing a relief rally to coin holders.
Additionally, the global crypto market rose to $831.40 Billion by 7:14 am EST Thursday, gaining 0.3% in the last 24 hours. However, the total crypto market volume plummeted 11.87% to reach the $$57.61 Billion mark. The total volume in DeFi is currently at $3.64 Billion, making up 6.31% of the total crypto market 24-hour volume.
Top Gainers and Losers
Source- Coin360
The Curve DAO and GMX tokens show the highest gains among the top 100 listed cryptocurrencies. In the last 24 hours, the CRV price rose 10.22% to $0.685, while the GMX price rose 7.41% to $45.22. On the flip side, the EthereumPoW and Aptos are top losers, where the ETHW price at $3.33 shows a 5.48% fall, whereas the APT price at $4.28 reflects a 4.16% drop.
Bitcoin Price
Source- Coinmarketcap
On November 23rd, the Bitcoin price gave a bullish breakout from the resistance trendline of a descending triangle pattern. A bullish breakout from a bearish continuation pattern accentuates the buyer's commitment to reach a higher level.
However, the BTC price currently trades at the $16558 mark with an intraday loss of 0.35%. This bearish candle is supposed to retest the breached resistance and check for price sustainability above it.
If the buying pressure persists, the potential rally will push the prices 7% high to the $18200-$18000 mark. Having said that, the buyers may struggle at an in-between resistance of $17000 before reaching its target.
Source- Tradingview
On a contrary note, a daily candle closing below the $16400-$16300 or trendline will offset the bullish thesis.
Ethereum price
Source- Coinmarketcap
The Ethereum price rising for three consecutive days gave a bullish breakout from combined resistance of $1185 and a downsloping trendline. For the past two weeks, this dynamic resistance has assisted sellers in restricting bullish growth and maintaining a steady downfall.
Thus, this bullish breakout indicates a switch in market sentiment from selling on rallies to buying on dips. However, the altcoin currently trades at the $1195 mark and shows a bullish retest to the breached trendline in a 4-hour time frame chart.
If the ETH price sustains above the $1180 mark, the potential upswing may drive the prices 12% high to reach $1340.
Source-Tradingview
Conversely, if the selling fails the retest phase with a 4-hour candle closing below the downsloping trendline, the Ethereum price may plunge back to $1080.