On November 24, the leading cryptocurrency, BitcoinYesterday the US showed signs of a fresh recovery, trading at $16,673 despite the dovish FOMC meeting minutes being released. Similarly, EthereumThe second most valuable cryptocurrency followed the lead of bitcoin and gained more than 3% to $1,200.
Major cryptocurrencies were trading in the green globally as early as Nov 24 crypto market cap It rose nearly 2% to $83 billion in the previous day. In contrast, the total crypto market volume fell by over 4% to $61.23 billion in the past 24 hours.
The total DeFi volume was $3.57 billion, which is 5% of the total 24-hour volume in the crypto market. The total volume of all stable coins was $58.36 billion, accounting for 95% of the total 24-hour crypto market cap.
Let’s take a look at the top 24-hour altcoin gainers and losers.
Top Altcoin Pros and Cons
Klaytn (KLAY), Solana (SOL), and BNB (BNB) are three of the top 100 coins that have gained in value over the past 24 hours. KLAY is up more than 12% to $0.18, SOL is up more than 10% to $14, and BNB is up almost 9%.
WeMIX (WEMIX), Bitcoin Cash (BCH), and Litecoin (LTC) are three of the top 100 coins that lost value in the last 24 hours.
While Bitcoin Cash and WEMIX lost more than 2% to trade at $113 and $1.50 respectively.
However, Litecoin’s 3% loss over the past 24 hours comes after a 30% surge over the past seven days and may just turn out to be a bearish correction.
LTC will be discussed further in the following update.
FOMC minutes: Fed officials see smaller rate hikes
Minutes of a meeting held by the Federal Reserve earlier this month were made public on Wednesday, and they revealed That participants agreed that future interest rate hikes should come down as they assess the policy’s impact on the economy.
echoed meeting summary Statement There were several statements made by officials during the past few weeks, all of which pointed to a more moderate upcoming rate hike.
After four consecutive 0.75 percentage point increases, the market typically anticipates the Federal Open Market Committee, which is set to lower interest rates, to hike 0.5 percentage points in December.
Officials have indicated less austere measures are on the horizon, but say they see no evidence of inflation slowing.
However, some committee members have expressed concern about potential financial system vulnerabilities if the Fed maintains its current aggressive course of action.
As a result of the dovish sentiment, demand for the US dollar faded, leading to a drop in prices and a surge in crypto demand.
bitcoin price
the current bitcoin price $16,659, and a 24-hour trading volume of $32 billion. Bitcoin has gained more than 1% in the last 24 hours. coinmarket cap Currently ranked #1 with a live market cap of $350 billion, up from $310 billion yesterday. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,215,637 BTC coins.
Bitcoin It is currently gaining momentum near the $16,600 mark. Candles closing above this level indicate the possibility of a bullish turnaround. A slice of the $16,350 barrier and a close above it suggests that the bullish trend could continue.
As a result, additional bullish pressure could extend further towards the $17,180 barrier. If there is another break above the $17,180 level, there could be more buying opportunities towards the $18,650 level, which is extended by the 38.2% Fibonacci retracement level.
Since both the RSI and the MACD are in a buying zone, we can expect the rally to continue. If the $17,000 mark is broken, BTC could drop to the $17,600 level.
On the downside, support for bitcoin remains at $16,000, and a breakdown of this level could send the currency as low as $15,670.
ethereum price
current price of Ethereum $1,201, with a 24-hour trading volume of $11 billion. Ethereum is up more than 3.5% in the last 24 hours. Coinmarketcap is currently ranked #2 with a live market cap of $147 billion. It has a circulating supply of 122,373,866 ETH coins.
on the 4 hour chart, Ethereum There was a break below the descending trend line at $1,190 and it recovered the $1,200 level.
ETH is now moving towards the next resistance area at $1,240, where a double top pattern and a bullish breakout above this level could take ETH price towards $1,290.
On the downside, the ETH/USD pair is likely to find immediate support at $1,190, and a break below this level could drop as low as $1,160. Since the RSI and MACD indicators are in the buy zone, we can see an uptrend.
Litecoin Pump 30%
The current price of Litecoin is $76, with a 24-hour trading volume of $1.6 Billion. In the last 24 hours, Litecoin is down by more than 3%, but at the same time, it has posted weekly gains of more than 30%.
With a live market cap of $5.4 billion, Coinmarketcap is currently ranked 13th. It has a maximum supply of 84,000,000 LTC coins and a circulating supply of 71,680,906 LTC coins.
On the technical front, Litecoin was rejected below the $83.65 resistance, and the candle closed below this level to start a bearish correction.
Litecoin has already completed the 23.6% Fibonacci retracement level and is now correcting lower towards the next support at $74, which was extended by the 38.2% Fibonacci retracement level.
The LTC/USD pair is likely to show a bullish reversal above the $74 or $68.75 (61.8% Fibo level) support levels.
Pre-Sold Cryptocurrency With Huge Potential Profits
Dash 2 Trade (D2T)
dash 2 business Ethereum-based trading intelligence platform that provides real-time analytics and social data to traders of all skill levels, allowing them to make more informed decisions.
D2T, developed by Learn2Trade Services, provides market driven insights, trading signals and forecasting services to investors. The cryptocurrency initiative promises to provide customers with enough information to make informed decisions.
D2T started its token sale three weeks ago and has already raised over $6.9 million. Following the pre-sale, D2T will be listed on LBank and BitMart, with the expectation of significant asset value growth.
1 D2T is currently worth 0.0513 USDT but it is expected to rise to $0.0533 in the next phase of the sale and to $0.0662 in the final phase.
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