On December 12, Bitcoin There was a break above the ascending channel at $17,000, which enabled more selling on the downside. Similarly, Ethereum It followed suit, emerging from an ascending triangle pattern to close below the $1,260 support level.
Major cryptocurrencies were trading in the green globally on early Dec 12 cryptocurrency market cap fell 1.07% to $846.24 billion on the previous day. In the last 24 hours, the total crypto market volume increased by 14.17% to $27.09 billion.
Let’s take a look at the top 24-hour altcoin gainers and losers.
Top Altcoin Pros and Cons
stack (stx), toncoin (ton), And trust wallet token (TWT) are three of the top 100 coins whose value has increased in the last 24 hours. The price of STX has increased by almost 6% to $0.30; TON Price Rises Over 8% To $2; And the price of TWT has increased by about 2.5%.
Three of the top 100 coins that lost value in the last 24 hours are included Dogecoin (DOGE), Osmosis (OSMO), and flow (flow). The price of DOGE is down by almost 10% to $0.08746, while OSMO is down by almost 9% to trade at $0.92. Meanwhile, the price of Flow declined by more than 9% to $0.9385.
Market braces this week for US CPI and FOMC rate decision
Two key developments will send Wall Street on edge, fueling concerns that deflationary trading has run into itself.
November’s inflation data, the last significant piece of economic news before the Fed meeting, is expected to show an easing of price pressures. Indicators point to a 0.3% increase from a month earlier, which is slightly slower than the 0.4% growth seen in October.
Inflation is projected to fall to 7.3% from its current 7.7% on an annualized basis. More efforts are needed to bring down inflation, but for now the trend is positive.
The Fed had predicted to slow its rate-hike pace by a half-point, but still insisted that had it not done so, the FOMC’s decision would be a “must see TV”.
The Federal Reserve is expected to signal that interest rates could rise to 4.75% to 5.25% points, a range that is extremely restrictive and should accelerate labor market deflation.
bitcoin price
current price of bitcoin $16,941, and a 24-hour trading volume of $17 billion. The BTC/USD pair has gained about 1.4% over the past 24 hours, while coinmarket cap is currently ranked number one with a live market cap of $325 billion, down from $360 billion yesterday.
On the technical front, bitcoin broke above the $17,000 channel, and a candle close below this level supports the possibility of a continuation of the selling trend.
On the downside, BTC could decline until it reaches the next support area at $16,750, below which the next support lies at $16,365.
A bearish crossover below the 50-day simple moving average (SMA) also supports the bearish bias, so BTC could continue to head towards $16,750.
ethereum price
current price of Ethereum $1,247, with a 24-hour trading volume of $4 billion. Ethereum is up almost 2% over the past 24 hours, and is currently ranked second on Coinmarketcap with a live market cap of $152 billion.
on the 4 hour chart, Ethereum The $1,259 support has been surpassed, and a drop below this level could expose ETH price towards the $1,221 level.
Further to the downside, an immediate support for ETH is $1,176. The 50-day moving average, RSI, and MACD indicators are all showing a bearish bias.
On the upside, an immediate resistance for ETH is $1,260, and a break above this level could expose ETH towards $1,300.
IMPT pre-sale ends in about 1 hour
IMPT is a new Ethereum-based network that rewards users for doing business with environmentally conscious businesses. Since its initial public offering in October, IMPT has raised over $20.2 million, with 1 IMPT currently trading at $0.023.
IMPT.io will be a new platform for carbon offsetting and carbon credit trading End its token pre-sale today ,1 hour left) because of its phenomenal success.
Find the best price to buy/sell cryptocurrency
Bitcoin Crypto Related Post