Bitcoin Price and Ethereum Prediction, Solana Pumps 4%, Can We Expect More?

Crypto Update
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Bitcoin FTX is trading at $16,789, down nearly 20% in seven days as a result of the bankruptcy, which has caused market chaos and risk-off sentiment. EthereumThe second most valuable cryptocurrency, on the other hand, is trading at $1,252.20, down more than 20% over the past seven days.

Global crypto market cap The previous day fell by more than 4% to $810.59 billion, sending the leading cryptocurrency into the red as early as Nov. 14. In contrast, the total crypto market volume increased by 12% to $60.78 billion in the last 24 hours.

The total DeFi volume was $4.23 billion, which was almost 7% of the entire 24-hour volume in the crypto market. The total volume of stablecoins was $56.48 billion, which is 92% of the total 24-hour volume of the cryptocurrency market.

Let’s take a look at the top altcoin gainers and losers over the past 24 hours.

Top Altcoin Gains and Losers

Trust Wallet Token (TWT), ZCash (ZEC), and GMX are three of the top 100 coins that have gained value in the last 24 hours (GMX).

TWT rose more than 19% to $2, ZEC rose over 6% to $41.60, and GMX rose nearly 3%.

Top Altcoin Advantages and Disadvantages – Source: Coin360

FTX Token (FTT) It has traded at $2.26, losing more than 18% of its value in the last 24 hours and over 90% in seven days. VIDT DAO (VIDT) has lost 90% in the last 24 hours

Exchange outflows reach historic high

Bitcoin holders have increasingly been turning to self-custody options since the failure of the second largest cryptocurrency exchange last week. Analytics firm Glassnode reports a dramatic increase in transactions from exchanges to personal cold storage wallets.

glassnode tweeted Monthly bitcoin withdrawals from exchanges have reached an all-time high of 106,000 BTC on 13 November. Earlier it was mentioned only three times (April 2022, November 2020 and June/July 2022).

It was also revealed that on November 9, there was a sharp increase in approximately 90,000 bitcoin wallets receiving assets from exchange addresses. The increase in BTC withdrawals from exchanges is an optimistic indicator of long-term BTC holdings.

In this case, however, it appears to have been caused by a loss of trust in centralized cryptocurrency exchanges.

The withdrawals have resulted in “positive balance adjustments across all wallet groups, from shrimp to whales,” according to Glassnode.

Glassnode has observed an increase in the rate at which stablecoins (many of which turned volatile last week) are flooding onto the exchange.

On November 10, more than $1 billion in stablecoins were deposited into regulated markets. It also said that the combined stablecoin reserves of all subsequent exchanges reached a new record high of $41.2 billion.

bitcoin price

The current bitcoin price is $16,798, with a 24-hour trading volume of $37 billion. Bitcoin is up 0.20% in the last 24 hours. CoinMarketCap currently ranks first, with a live market cap of $322 billion. It has a maximum supply of 21,000,000 BTC coins and a circulating supply of 19,206,950 BTC coins.

Bitcoin Price and Tokennomics – Source: Coinmarketcap

Bitcoin is consolidating in a broad trading range between $18,000 and $16,000, and a breakout will determine future price action. Bitcoin completed a 38.2% Fibonacci retracement level at $18,100 on the 4-hour time frame and it is now bullish.

There is a positive crossover above $18,100. This level has the potential to expose bitcoin price to the 61.8% Fibonacci level of $19,350. If bitcoin fails to break the 38.2% Fibonacci retracement level of $18.250, there is a possibility of a decline below $15,965.

Bitcoin Price Chart – Source: Tradingview

MACD, a key technical indicator, has entered a buying zone, but the 50-day moving average and RSI remain in a sell zone. BTC could continue to decline if there is a downside break below $18,000 with support at $16,000 and 15,850 in the closing candles.

ethereum price

current price of Ethereum $1,261, with a 24-hour trading volume of $13 billion. In the past 24 hours, Ethereum is up less than 1%. With a live market cap of $154 billion, CoinMarketCap currently ranks second. It has a circulating supply of 122,373,866 ETH coins and no maximum supply.

On Friday, the second most valuable cryptocurrency, Ethereum, up 1% to $1,262 in the last 24 hours. On CoinMarketCap, it now ranks second with a live market capitalization of $154 billion.

Ethereum Price and Tokenomics – Source: Coinmarketcap

on the daily chart, Ethereum A bullish retracement led to a retest of the $1,262 level. Ethereum has an immediate resistance at $1,370, which is supported by the 50-day moving average. A bullish crossover above $1,370 could accelerate the recovery towards $1,506 or $1,670.

Ethereum Price Chart – Source: Tradingview

Support remains near the $1,170 or $1,095 level. A break below this level could expose ETH to $1,000 or even $881, but this seems unlikely for the time being.

Solana Pumps 4%, can we expect more?

Solana is currently trading at $14.58 with a 24-hour trading volume of $1.1 billion. Solana has gained over 5.32% in the last 24 hours. With a live market cap of $5.2 billion, Coinmarketcap is currently ranked 13th. The circulating supply is 362,273,045 SOL coins.

Solana Price & Tokenomics – Source: Coinmarketcap

Solana has already completed the 38.2% Fib retracement level at $21.85, and candles closing below this level indicate that the bearish trend is likely to continue. The SOL/USD pair continues to trade below the 50-day moving average, which is raising resistance near $26.

Solana Price Chart – Source: Tradingview

A bearish candle is forming below the $21.85 barrier line, indicating that the bearish trend is likely to continue. If the sellers push the SOL below its immediate support at $11.50, it could drop to $5.5. Let’s consider staying bearish below $20 today.

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Cryptocurrency Price Tracker – Source: cryptonews

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