Bitcoin and Ethereum price prediction: The BTC and ETH currencies continue to fall, revisiting the weekly support. Both these charts show lower price rejection candles, which indicates that prices experienced a minor relief rally. . At 7:58 AM EST Monday, the global cryptocurrency market fell to $797.66 billion, losing 2.9%
The post Bitcoin, Ethereum Price Prediction – Market Leaders Test Local Support; Buy Again! CoinGape was first to publish this article.

  

Published 8 seconds ago by
Brian Bollinger Bitcoin, Ethereum price prediction. The BTC and ETH currencies continue to fall lower, revisiting the weekly resistance. Both these charts show lower rejection candles, which indicates that prices experienced a minor rally. . At 7:58 am EST Monday, the global crypto market dropped to a low of $797.66 billion, losing 2.91% in the past 24 hours.advertisementHowever, the total crypto market volume has grown 51.9% to $61.34 Billion. The total volume in DeFi currently stands at $4.67 billion, which is 7.62% of total crypto market 24-hour volumes. Top Gainers and losersSource-Coin360 While most cryptocurrencies trade in red today, some of the top 100 listed coins have green candles. As of press time, HuobiToken (HT) has posted the highest gain of 13.75% over the last 24 hours. NEM (XEM), which gained 7.34%, is next. Algorand and Chiliz are the top losers. The CHZ price at $0.1929 has fallen 16.0%, while the ALGO price of $0.246 has fallen 12.28%. Trending StoriesBitcoin price Source- CoinmarketcapThe Bitcoin market has been sideways for almost two weeks now. The price has three times retested $16000 psychological support during this consolidation. The intraday loss of 1.19% means that the coin price is currently trading at $16082. However, several long-tail rejection candles at $16000 indicate a possible bullish reversal. However, a possible relief rally must surpass the overhead resistance to obtain sustained recovery.Source- TradingviewNonetheless, if the sellers’ pressure persists, the sellers may break the bottom support of $16000 to prolong the prevailing downtrend. A daily candle closing below $16000 would drive the BTC price $6.7% lower to $14800. Source: CoinmarketcapEthereum priceSource- CoinmarketcapOn November 20, the Ethereum coin price showed a strong momentum breakdown from the $1190 neckline support pattern of descending triangle patterns. The price plunged by 5.56% to $1126 after the test rally. However, the 4-hour chart shows a long rejection candle at the local support, indicating that buyers are continuing to defend this level. Thus, a potential bullish reversal may push the prices 6% higher, but the pattern’s resistance trendline could restrict further growth.Source-TradingviewadvertisementIf the selling pressure persists in the crypto market, a breakdown below $1100 will encourage a downfall to $1000 psychological support.Share this article on:About author
Disclaimer
The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. Close Story