Bitcoin Price and Ethereum Trade Sideways, Huobi Token Storms 58%

Crypto Update
11 Min Read

- Advertisement -

leading cryptocurrency, BitcoinIt failed to surpass the $16,800 level on November 27 and started a decline towards the 38.2% Fibonacci retracement level.

Similarly, the second most valuable cryptocurrency, EthereumBitcoin followed the rise and is trading bearish above $1,200.

crypto market cap update

Major cryptocurrencies were trading lower globally early on Nov 27 crypto market cap It fell 0.16% to $840.32 billion on the previous day.

In the last 24 hours, the total crypto market volume fell by 10% to $33 billion. The total 24-hour volume of DeFi currently stands at $2.74B, which accounts for 8% of the crypto market.

The total volume of all stable coins is now $31.69 billion, which is 93.28% 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

AppCoin (APE), Yunus Sed Leo (Leo), and Huobi Token (HT) are three of the top 100 coins that have gained value in the last 24 hours. The APE price is up over 15% to $2.75, the LEO price is up over 8% to $4, and the HT price is up almost 6.5%.

Top Altcoin Advantages and Disadvantages – Source: Coin360

Trust Wallet Token (TWT), BinaryX (BNX), and Synthetix (SNX) are three of the top 100 coins that lost value over the past 24 hours, with TWT trading at $1.95, losing over 8% , BNX is down 4% to trade at $148. Meanwhile, SNX is trading at $1.68, down more than 4%.

Ava Labs president says a crypto firm threatens the markets more than FTX

John Wu, president of Ava Labs, recently stated that the collapse of a major digital asset lender would have more dire consequences for crypto markets than the recent FTX debacle.

According to a recent interview by BloombergAva Labs president John Woo cites potential The collapse of Genesis Global Capital There is a bigger threat to the digital asset markets than the failure of the FTX exchange.

“In my seat, I actually think origination is a bigger issue in terms of capital markets for crypto than FTX.

Genesis was the largest lender there. They have given unsecured as well as collateralized loans. In fact he is nobody else to lend. Without them in the markets, everyone in the value chain, all the companies like market makers that need to borrow to make the market, you’ll see liquidity go out of the markets, spreads, no investors want to come in. And you have a vicious circle.

Therefore, Genesis is a very important part of the crypto capital market.”

Earlier in November, news emerged that Genesis had temporarily halted withdrawals due to liquidity issues following the collapse of FTX and crypto hedge fund Three Arrows Capital (3AC).

Another report from last week indicated that it had sought a $1 billion loan from investors to cover unforeseen expenses, before the withdrawals from Origin closed.

Binance issues its proof-of-reserve

After FTX went down, Binance CEO Changpeng Zhao (CZ) issued a rallying cry, demanding that other exchanges show their financial strength. Binance released its Proof-of-Reserve (PoR) mechanism on 25 November, after most CEXs adopted his recommendations.

The publication of the Merkle Tree proof-of-funds comes two weeks after the exchange initially promised to do so. Binance’s most recent move has come under fire.

Jesse Powell, CEO and co-founder of Kraken, said that Binance lacks a full PoR. As he tweeted, the entire Proof of Repossession (PoR) is required, the sum of the customers’ liabilities, cryptographic proof that each account was included in the amount, and signatures validating the custodian’s power over the wallet.

Other participants have failed to note accounts with negative balances, Powell said. Kraken’s proof-of-reserves is useful for comparing a company’s holdings to its debt.

CZ responded by insisting that the official statement’s reference to third-party audits would be sufficient to address Powell’s concerns about POR. Binance’s latest move, if done correctly, has the potential to restore trust in centralized exchanges and cryptocurrency.

Despite these efforts, bitcoin and other major currencies are in decline. Let’s take a look at bitcoin price predictions.

bitcoin price

the current bitcoin price $16,558 with a 24-hour trading volume of $18 Billion. Over the past 24 hours, the BTC/USD pair has declined by approximately 0.50%, while coinmarket cap is currently in the first position with a live market cap of $318 billion, down from $348 billion yesterday. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,217,818 BTC coins.

Bitcoin Price and Tokennomics – Source: Coinmarketcap

on sunday BTC/USD It is trading choppy in a narrow trading range of $16,300 to $16,800. In order to predict future trends, bitcoin needs to break above the previously mentioned trading range.

On the 4-hour time frame, the BTC/USD pair is currently trading above the 23.6% Fibonacci retracement level at $16,400, and a breakout of this level could set the next trading range.

If bitcoin breaks below the 23.6% Fib level, it will come in contact with the 38.2% Fib level at $16,275 and the 61.8% Fib level at $15,900.

Bitcoin Price Chart – Source: Tradingview

Key technical indicators, such as the RSI and MACD, are oscillating between buy and sell ranges, indicating investor indecision. On the other hand, the 50-day moving average is keeping BTC supported near $16,450, indicating high potential for an upward continuation.

If buyers enter the market, a bullish break of the $16,785 level could send BTC to $17,000 in a matter of days.

ethereum price

current price of Ethereum $1,216, with a 24-hour trading volume of $4 billion. Ethereum is down about 0.50% in the last 24 hours. Coinmarketcap is currently ranked #2 with a live market cap of $148 billion. It has a circulating supply of 122,373,866 ETH coins.

Ethereum Price and Tokennomics – Source: Coinmarketcap

Ethereum It is trading slightly bullish, forming an ascending channel with support near $1,200 (psychological level). On the 4-hour chart, Ethereum is building up “higher highs and higher lows“Indicates an increased bullish bias.

The 50-day moving average line at $1,175 is indicating a bullish trend, while the RSI and MACD indicators are also in the buy zone.

Ethereum price chart – Source: Tradingview

On the upside, the key resistance for ETH remains the $1,235 level, and a break above it could take it towards the $1,250 level. On the downside, a bearish breakout of an ascending channel at $1,200 could encourage selling towards the $1,185 and $1,145 levels.

Huobi Token Storm 58%

Huobi Token is on the rise, up over 58% over the past seven days and over 4% over the past 24 hours. Coinmarketcap is currently ranked #39 with a live market cap of $1 billion. There are 153,357,694 HT coins in circulation, with a maximum supply of 500,000,000 HT coins.

On the technical front, the HT/USD pair climbed above $7 and reached the 61.8% Fibonacci retracement level. At the same time, HT has crossed the 50-day simple moving average line at $6.75, indicating a strong bullish trend.

HT Price Chart – Source: Tradingview

On the other hand, the RSI and MACD have entered the overbought zone, which is not a good sign for the bulls. Consequently, a failure to break the $7.40 resistance could result in a bearish correction towards the $6 or $5.15 levels.

On the other hand, increased demand in HT could break the $7.40 resistance and bring the price towards the $8.35 or $9.50 resistance. Let’s keep an eye on $7.40 as this is a potential pivot point for HT.

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 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 sparked investor interest after raising $7 million in just one month. As a result, the D2T team has decided to drop it to Phase 4 and reduce the hard cap target to $13.4 million.

Dash 2 Trade has also been successful, with two exchanges (LBank and BitMart) pledging to list the D2T token after the presale ends. The price of 1 D2T is currently 0.0513 USDT, but it will increase to $0.0533 in the final phase of the sale. D2T has raised over $7 million to date by selling over 82% of its tokens.

Visit Dash 2 Trade Now

Find the best price to buy/sell cryptocurrency

Cryptocurrency Price Tracker – Source: cryptonews

Bitcoin Crypto Related Post

Share this Article
Leave a review

Leave a review

Your email address will not be published. Required fields are marked *