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

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. Similarly, EtherealThe second most valuable cryptocurrency, it has followed Bitcoin’s lead and is currently trading lower towards $1,160.

The reason for the market’s risk-off sentiment could be related to the recent Hodlnaut updates.

According to Bloomberg NewsThe Department of Commercial Affairs, the white-collar crime unit of the Singapore police, is investigating Hodlnaut, a Singapore-based crypto lender currently under interim receivership.

Crypto Market Cap Update

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

Total volume in DeFi was $3.21 billion, representing 6% of the total 24-hour volume in the crypto market. Total volume across all stablecoins was $44.98 billion, representing over 93% 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

binaryX (BNX), Huobi tab (HT), and Batteries (STX) they are three of the top 100 coins that have gained in value in the last 24 hours. The BNX price has jumped more than 7% to $169, the HT price has grown more than 5% to $5.65, and the STX price has risen almost 1.5%.

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Major altcoin gainers and losers – Source: Coin360

UNUS SED LEO (LEO), Klaytn (KLAY), and Arweave (AR) are three of the top 100 coins that have lost value in the last 24 hours, with LEO and KLAY losing more than 7% to trade at $3.88 and $0.17, respectively. At the same time, the price of AR is down more than 6% to trade at $8.95.

bitcoin price

The current bitcoin price is $16,418 and the 24 hour trading volume is $24 billion. Over the past 24 hours, the BTC/USD pair has fallen almost 1.5%, while CoinMarketCap it currently sits in first place with a live market capitalization of $346 billion, down from $350 billion yesterday. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,216,412 BTC coins.

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Bitcoin Price and Tokenomics – Source: coinmarketcap

Looking at the technical aspects, Bitcoin it has yet to break the $16,785 barrier, despite the dovish FOMC meeting minutes. Investors seem to be experiencing FUD as a result of the FTX and now Hodlnaut news.

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

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Bitcoin Price Chart – Source: Tradingview

Similarly, major technical indicators such as the RSI and MACD are very close to entering a sell zone and if this occurs, BTC may break below the $16,300 mark and reach a support level of $16,000. The next support level is set at $15,600.

A bullish break of the $16,785 level, on the other hand, could expose BTC to the $17,000 or $17,550 level.

ethereum price

The current price of Ethereal 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 capitalization of $144 billion. It has a circulating supply of 122,373,866 ETH coins.

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Ethereum Price and Tokenomics – Source: coinmarketcap

On the 4 hour chart, Ethereal It is trading bearish at $1,176 and has formed a bearish engulfing candle, indicating the possibility of a bearish market bias.

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

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

Ethereum Price Chart – Source: Tradingview

On the upside, the main resistance in ETH remains at $1,216, and a break above this could take it to the $1,250 level. Later today, traders should keep an eye on the $1160 level, as a failure to break below this level could lead to a bounce to the upside, or vice versa.

Litecoin jumps 23%

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

It has a maximum coin supply of 84,000,000 LTC 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 surge, predicting that the cryptocurrency will experience a massive breakout following the “great accumulation” period that preceded its next halving event.

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

According to Kaleo, the Litecoin price has long lows during which it slowly moves lower, followed by rapid spikes.

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

According to the analyst, BTC tends to bottom out roughly 500 days before its next halving event, and LTC’s advance is occurring 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 candle closes below this level triggered a bearish correction.

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Litecoin Price Chart – Source: Tradingview

Litecoin has already completed a 23.6% Fibonacci retracement and is now sloping down to $74, which is extended by a 38.2% Fibonacci retracement. The LTC/USD pair is expected to pull back bullishly above the support levels of $74 or $68.75 (61.8% Fibonacci level).

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Find the best price to buy/sell cryptocurrencies

Cryptocurrency Price Tracker – Source: cryptonews