Bitcoin Price and Ethereum Pumps 10%; US Consumer Confidence Shakes Again

Crypto Update
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Despite the constant FUD of the market, BitcoinThe leading cryptocurrency continued to trade bullish above the psychological level of $16,000 and reached a high of $17,000 on November 30. Similarly, EthereumThe second most valuable cryptocurrency is also rising, reaching $1,270 after breaking a symmetrical triangle pattern.

Major cryptocurrencies were trading in the green early on Nov 30 global crypto market The value increased by more than 4% on the previous day to $853 billion. In contrast, the total crypto market volume fell by about 1.0% over the past 24 hours to $47.37 billion.

The total DeFi volume was $2.89 billion, which is 6% of the total 24-hour volume in the crypto market. The total volume of all stable coins was $44.77 billion, accounting for 94% 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 Pros and Cons

Phantom (FTM), Huobi Token (HT), and ImmutableX (IMX) are three of the top 100 coins that have gained value in the last 24 hours. The FTM price is up more than 10% to $0.2385, the HT price is up more than 5% to $7, and the IMX price is up almost 5.5%.

Top Altcoin Advantages and Disadvantages – Source: Coin360

UNUS SED LEO (LEO), Celo (CELO), and BinaryX (BNX) are three of the top 100 coins that lost value in the last 24 hours. While LEO has lost over 7.5% to trade at $3.78, CELO is down nearly 3% to trade at $0.65. At the same time, the BNX price is trading at $142, down more than 2%.

US consumer confidence shook once again

Given the negative correlation between the US dollar and cryptocurrencies, a decline in the US dollar usually signals buying in top cryptos.

Early University of Michigan consumer sentiment The November 2022 forecast for the United States rose to 56.8 from 54.7, which was higher than the market estimate of 55. However, it declined from the previous figure of 59.9, creating a bearish bias for the USD and attracting demand for the cryptocurrency.

Source: University of Michigan

Inflation forecast for the coming year fell to 4.9% from 5.1% in the first estimate, while the 5-year forecast remained stable at 3%.

In addition to the lingering effects of inflation, rising lending rates, falling property prices, and a weakening labor market outlook have weighed on consumer outlook.

Brazil legalizes cryptocurrency as a payment method

Brazil has yet to recognize bitcoin as a legal tender, but it has come up with what it considered the next best thing by passing a law recognizing cryptocurrencies as a valid form of payment nationwide. This will give a regulatory boost to the widespread use of digital currencies and the development of the ecosystem.

The Chamber of Deputies in Brazil has established a regulatory framework that will allow citizens to use cryptocurrencies as legal currency. Bill, issued under no. PL 4401/2021Expands the meaning of “payment agreements” to include digital currencies and airline mileage programs (the ubiquitous “miles”).

Cryptocurrency payments for goods and services will soon be backed by legislation, but they will not be recognized as legal tender until the President of the Republic signs it into force.

The increase in cryptocurrency adoption is seen as positive for the cryptocurrency market, and as a result, the market is growing.

bitcoin price

the current bitcoin price $16,867 with a 24-hour trading volume of $25 Billion. During the past 24 hours, the BTC/USD pair has gained approximately 2.5%, while coinmarket cap It currently ranks first with a live market cap of $324 billion, up from $316 billion yesterday.

It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,220,518 BTC coins.

Bitcoin Price and Tokennomics – Source: Coinmarketcap

on wednesday BTC/USD It is trading bullish after taking support at the $16,000 psychological trading level. Bitcoin breached the double top resistance at $16,650 on the 4-hour time frame, and a breakout above this level exposes BTC price to the next resistance at $17,250.

Bitcoin Price Chart – Source: Tradingview

On the downside, there is a support near the $16,650 level, a double bottom resistance that is now acting as a support. The RSI and MACD indicators are still in the buy zone, which means that the uptrend will continue.

Consider taking a buy position above $16,650 today.

ethereum price

current price of Ethereum $1,269, with a 24-hour trading volume of $8 billion. In the last 24 hours, Ethereum is up almost 5%. Coinmarketcap is currently ranked #2 with a live market cap of $155 billion. It has a circulating supply of 122,373,866 ETH coins.

Ethereum Price and Tokennomics – Source: Coinmarketcap

After completing the 50% Fibonacci retracement at $1,150, Ethereum Got cured in 4 hours time frame. Above this, Ethereum formed a bullish engulfing candle, triggering a strong uptrend.

On the 4-hour time frame, the ETH/USD pair violated a symmetrical triangle pattern at $1,200, and a candle close outside this triangle pattern indicates the potential for a stronger upside move.

Ethereum price chart – Source: Tradingview

On the upside, the ETH/USD pair could continue moving towards the next $1,290/1,300 resistance, and a break above it could expose it to the $1,340 resistance.

On the downside, Ethereum has immediate support at $1,230 and $1,200. However, the RSI and MACD are in a buy zone, as is the 50-day moving average, which suggests a likely continuation of the bullish trend. Consider taking a buy trade on today’s high above $1,235.

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Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based trading intelligence platform that provides real-time analytics and social data to traders of all skill levels, allowing them to make better-informed decisions. The platform will go live in the first quarter of 2023, providing investors with information to help them make proactive trading decisions.

Dash 2 Trade, a platform for crypto trading intelligence and signals, has piqued investor interest after raising $7 million in just a month. As a result, the D2T team decided to drop the project at Phase 4 and reduce the hard cap target to $13.4 million.

Dash 2 trading has also been successful, with two exchanges (LBank and BitMart) pledging to list D2T tokens after the pre-sale ends. 1 D2T is currently worth 0.0513 USDT, but will increase to $0.0533 at the end of the sale.

D2T has so far raised over $7.5 million by selling over 86% of its tokens.

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Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker – Source: cryptonews

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