crypto strategy

Bitcoin price and Ethereum prediction; Breakout Patterns Will Drive Price Action

During the Asian session on December 19, Bitcoin is trading at $16,700 as investors appear to be waiting for a strong fundamental reason to boost the price action. In the same way, Ethereum is trading in a choppy range of $1,150-$1,200. A breakout of this range will help us determine future market price movements.

Major cryptocurrencies were trading in the red at the start of December 19, despite the fact that the global crypto market the cap rose 0.60% to $812.94 billion the previous day. The total cryptocurrency market volume for the past 24 hours is $21.44 billion, down 23.51%.

Overall DeFi volume was $1.17 billion, or 5.46% of the total 24-hour volume in the crypto market. The aggregate volume of all stablecoins was $19.30 billion, or 90.04% of the total 24-hour volume of the crypto market.

Crypto Whales Unloaded 280,000 BTC in 30 Days

The biggest bitcoin (BTC) holders, called “whales”, sold more bitcoin than ever before in a single 30-day period. According to on-chain stats collected by Glassnode, these whales dumped a total of 280,000 BTC in the past 30 days.

Right now, the whales are believed to control around 9 million BTC, which is a significant proportion of the entire BTC supply.

The price of Bitcoin can be affected by the selling of major holders, who wield considerable market power.

On-chain Glassnode data confirms that the concentration of selling pressure is coming from BTC whales, as seen in the Trend Accumulation Score by Cohort indicator.

bitcoin price

The current Bitcoin price is $16,727 and the 24-hour trading volume is $12 billion. The BTC/USD pair gained nearly 0.15% in the past 24 hours, while CoinMarketCap currently ranks number one with a live market capitalization of $321 billion.

Bitcoin Price and Tokenomics – Source: coinmarketcap

BTC/USD is likely to find initial support near $16,560 on Monday. BTC prices could reach the 23.6% Fibonacci retracement level of $17,000 with the RSI and MACD in the oversold zone.

Bitcoin price chart – Source: Tradingview

The 38.2% Fibonacci retracement level and the 50-day simple moving average at $17,250 will act as further resistance for the BTC/USD pair going forward. If Bitcoin prices break below $16,570, the $16,150 support level may become vulnerable.

Ethereum Price

Ethereum the current price is $1,181, with a 24-hour trading volume of $3.9 billion. In the past 24 hours, Ethereum has gained almost 4% and CoinMarketCap currently ranks second, with a live market cap of $161 billion.

Ethereum and Tokenomics prices – Source: coinmarketcap

On the 4-hour chart, Ethereum is trading choppy maintaining a tight range of $1150-$1200. Given that the 50-day moving average is extending resistance at the $1,240 level and the RSI is holding in a sell zone, Ethereum has the potential to drop below $1,150.

At the bottom, the next support for ETH is likely to be around the $1,115 or $1,080 level.

Ethereum price chart – Source: Tradingview

Alternatively, an amount above $1,200 can expose ETH to the $1,235 level.

High Profit Alternative Parts

The global crypto market is bearish, but few coins are making headlines. Why not check them out?

FightOut (FGHT) – Presale Launches

Fight Outa new Move-to-Earn (M2E) app and gym chain that aims to bring the fitness lifestyle to the web3, has caught the eye of investors who see the potential to revolutionize the landscape current web3 M2E, launched its pre-sale.

While existing M2E apps such as StepN only measure steps and require expensive non-fungible token (NFT) purchases to join, FightOut takes a more comprehensive approach to tracking and compensating users for exercise and activity that do not require such purchases. .

As the presale raised over $2.85 million in just a few days, interested investors are advised to act quickly to secure their FGHT tokens at the current price of 60.06 USDT per 1 USDT.

The FGHT coin will power the FightOut crypto ecosystem.

Visit FightOut now

Dash 2 Trade (D2T) – Last step of the presale

Dash 2 Trade is an up-and-coming cryptocurrency trading platform startup to invest in. With its unique features, the new social analytics and trading platform is set to take the crypto trading industry by storm.

Trading signals, social sentiment and on-chain indicators, a pre-sale token rating system, a token list alert system, and a strategy backtesting tool are some of the features.

The Dash 2 Trade ecosystem will be powered by the D2T token, which users must purchase and hold to use the platform’s services. Dash 2 Trade is now doing a token presale at significantly reduced prices, with sales just exceeding $10.1 million.

The tokens can now be purchased for $0.0533 per token and will be available on many centralized exchanges over the next month.

Visit Dash 2 Trade here

Calvaria (RIA) – Final presale phase now

A new play-to-earn battle crypto-card game called RIA could become a reality. Calvaria’s goal is to improve the acceptability of cryptocurrency by creating a bridge between the real world and cryptocurrency in the form of an entertaining and simple to play crypto game.

Calvaria’s RIA token pre-sale may spark investor interest. Calvaria has now raised $2.48 million and is nearing the end of its fundraising campaign, with only 20% of the tokens remaining.

Visit Calvaria now

Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker – Source: Crypto news



#Bitcoin #price #Ethereum #prediction #Breakout #Patterns #Drive #Price #Action #crypto strategy

Related Articles

Back to top button