Bitcoin and Ethereum price gain support at 38.2% Fibonacci level;  Litecoin Jumps 23%

Bitcoin and Ethereum price gain support at 38.2% Fibonacci level; Litecoin Jumps 23%

On November 25, bitcoin, the leading cryptocurrency, failed to breach the $16,800 level and started falling towards the 38.2% Fibonacci retracement level. similarly, Ethereumthe second most valuable cryptocurrency, has followed bitcoin’s lead and is currently trading lower towards $1,160.

The reason for the market’s risk sentiment may be related to Hodlnaut’s recent updates.

according to Bloomberg NewsThe Department of Commercial Affairs, the white-collar crime unit of the Singapore police, is investigating Hodlnaut, a Singapore-based crypto lender currently under the temporary judicial administration.

Cryptocurrency market cap update

Major cryptocurrencies traded unevenly early on November 25, as did the world Cryptocurrency market capitalization It fell 1% to $828.27 billion the day before. In contrast, the total cryptocurrency market volume decreased by 47% over the past 24 hours to $48.87 billion.

The total volume in DeFi reached $3.21 billion, which is 6% of the total 24-hour trading volume in the crypto market. The total volume of all stablecoins reached $44.98 billion, which is more than 93% of the total 24-hour market volume of cryptocurrencies.

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

Top gainers and losers in Altcoin

benarix (BNX)And the Hobby Token (HT) f Stacks (STX) These are three of the top 100 coins that have gained value in the last 24 hours. BNX is up more than 7% to $169, HT is up more than 5% to $5.65, and STX is up about 1.5%.

Top Altcoin Gainers and Losers – Source: Coin360

UNUS SED Leo (LEO), and Klaytn (KLAY). Arwef They are three of the top 100 coins that have lost value in the past 24 hours, with LEO and KLAY losing more than 7% to trade at $3.88 and $0.17, respectively. Meanwhile, the AR price is down more than 6% to trade at $8.95.

Bitcoin price

Present Bitcoin price It is $16,418 and the 24-hour trading volume is $24 billion. Over the past 24 hours, the BTC/USD pair is down about 1.5% CoinMarketCap It currently ranks first with a direct market capitalization of $346 billion, down from $350 billion yesterday. It has a total supply of 21,000,000 BTC and a circulating supply of 19,216,412 BTC.

Bitcoin Price & Tokenomics – Source: coinmarketcap

Looking at the techniques, bitcoin It hasn’t breached $16,785 yet, despite the downbeat FOMC meeting minutes. It appears investors are facing FUD as a result of FTX and now the Hodlnaut news.

The Bitcoin / US Dollar The pair is currently declining towards the 38.2% Fibonacci retracement level at $16,300. On the 4-hour time frame, it has already crossed the 50-day moving average line, which indicates a selling bias.

Bitcoin Price Chart – Source: Tradingview

Likewise, leading technical indicators such as the RSI and MACD are very close to entering the sell zone, and if that happens, BTC could break below the $16,300 mark and reach the $16,000 support. The next level of support is set at $15,600.

On the other hand, an upward breach of $16,785 could expose BTC to $17,000 or $17,550.

Ethereum price

The current price of Ethereum It is $1,177, with a 24-hour trading volume of $9 billion. In the last 24 hours, Ethereum has gained more than 2%. CoinMarketCap currently ranks second, with a direct market capitalization of $144 billion. It has a circulating supply of 122,373,866 ETH coins.

Ethereum Price & Tokenomics – Source: coinmarketcap

on the 4-hour chart, Ethereum It is trading lower at $1,176 and a bearish engulfing candle was formed, which indicates the possibility of the market tilting to the downside.

ETH is currently testing the 50-day moving average at $1,175, and a bearish cross below this level could lead to a 38.2% Fibonacci level at $1,160.

A further break below this level could lead ETH to reach the $1145 or $1130 levels, which correspond to the 50% and 61.8% Fibonacci levels respectively.

Ethereum price chart – Source: Tradingview

On the upside, the main resistance for ETH remains at $1216, and a break above this could lead to the $1250 level. Later today, investors should watch the $1160 level, as a failure to breach this level could lead to an upward bounce or vice versa.

Litecoin Jumps 23%

The current price of Litecoin It is $77, with a 24-hour trading volume of $1.1 billion. Litecoin has gained more than 1% over the past 24 hours, but its weekly gain is over 23%. CoinMarketCap currently ranks it 13th, with a direct capitalization of $5.5 billion.

It has a maximum coin supply of 84,000,000 LTC and a circulating supply of 71,687,456 LTC coins.

Commenting on the recent increase in the price of Litecoin, some of the most well-known experts in the cryptocurrency market predicted that the cryptocurrency will undergo a massive breakout after the period of “significant accumulation” leading up to the upcoming halving event.

Pseudonymous cryptocurrency analyst Kaleo recently told her 500k-plus Twitter followers that LTC’s recent boom looks like a “real deal” because the cryptocurrency is “long overdue for a solid pump.”

According to Kaleo, the price of Litecoin has witnessed long lows during which it slowly moved downwards, followed by rapid peaks.

After an “extremely large buildup,” Smart Contracter, another well-known cryptocurrency expert, noted that LTC appears to be going off scale.

According to the analyst, BTC tends to bottom about 500 days before the next halving event, and the LTC breakout occurs less than 230 days before its own halving.

Litecoin price prediction

Litecoin was rejected below the $83.65 resistance on the technical front, and a candlestick closing below this level led to a bearish correction.

Litecoin price chart – Source: Tradingview

Litecoin has already completed the 23.6% Fibonacci retracement and is now falling towards $74, which was extended by the 38.2% Fibonacci retracement. The LTC/USD pair is expected to reverse upwards above the $74 or $68.75 support levels (Fibonacci level 61.8%).

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Cryptocurrency Price Tracker – Source: Kryptonose

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