Posted 1 hour ago
Bitcoin, Ethereum Price Prediction: The BTC and ETH price rejecting higher prices hints at a resumption of ongoing consolidation. Thus, the capitalization of the world crypto market stands at $807,190 million, showing a loss of 0.43% in the last 24 hours. Furthermore, the total volume of the crypto market shows a jump of 4.42% to reach $19.07 billion.
Major winners and losers
Source- Coin360
Among the top 100 cryptocurrencies by market cap, OKB and Lido DAO show the highest gain, with OKB price rising 5.05% to hit the $22.88 mark, while LDO price rising 3.01 % to $0.966. On the other hand, Trust Wallet Tokens and MultiversX (Elrond) Tokens are the biggest losers, with a TWT price of $1.34, down 8.91%, while the EGLD price of $33.20, down it has dropped 5.09%.
bitcoin price
Source- Coinmarketcap
After the fall of mid-December, the bitcoin price he went sideways immediately. Although this drop did break some crucial support levels such as the inverted flag pattern support level and $16900-16820, sellers had trouble tracking this breakdown.
Over the past five days, the BTC price has shown short-bodied candlesticks with price rejection on both sides. These candlestick structures and decreasing volume activity define indecision among market participants.
Source- Tradingview
However, if the price of Bitcoin remains below the mentioned resistance, the sellers will have the upper hand and prices are likely to fall. Therefore, a possible drop can sink the price to $15,600.
On a country note, a daily candle closing above $16,900 will encourage a resumption of the earlier rally.
ethereum price
Source- Coinmarketcap
Similar to Bitcoin, the ethereum price it lost the local support of $1230 amid the recent slide. As sellers try to follow through on this dip, mounting buying pressure undermines their attempt and keeps price action on their side.
The ETH price has been consolidating for the last five days and is showing long rejection candles at the lower price. Therefore, if buying pressure persists, a daily candle closing above $1,230 will accelerate buying pressure and can send prices up 12% to $1,350.
Source-Tradingview
Conversely, if the price sustains below $1,230, the sellers may eventually lower prices.
The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrency. The author or publication has no responsibility for your personal financial loss.
