Bitcoin and Ethereum prices gain 5% as US consumer confidence declines
Despite the worrisome environment in the market, Bitcoin continues to rise, reach almost $17,000 on November 30 with An increase of over 2%. Similarly, Ethereum continues to reach $1,270 More than 5% check.
Global Cryptocurrency Market Shows 4% better than the previous day and about $853 billion goes global. On the other hand, the total volume of transactions decreased slightly (1%) to $47.37 billion in 24 hours.
These transactions totaled $2.89 billion in DeFi, 6% of the total 24-hour volume, and $44.77 billion in stablecoins, 94% of the total.
The most noticeable gains and losses in the market
Among the many cryptos that have seen their rates clearly improve, we can keep the following 3:
- Phantom (FTM): Up more than 10% at $0.2385.
- Huobi Token (HT): 5% to $7.
- ImmutableX (IMX): Up almost 5.5% at $0.4568.
On the main issuing currencies side, we will mainly mention:
- UNUS SED LEO (LEO): Trading down more than 7.5% at $3.78.
- Celo (CELO): down nearly 3% to $0.65.
- BinaryX (BNX): Trading at $142, down more than 2%.
Consumer confidence in the US is shaken again
The University of Michigan’s US Consumer Confidence Survey showed a November 2022 reading of 56.8 from 59.9 last month, leading to a bearish trend for the US dollar and increased demand for cryptocurrencies.
Indeed, given the negative correlation between the US dollar and cryptocurrencies, the depreciation of the US dollar generally stimulates the purchase of cryptocurrencies.
The inflation forecast for the next year fell from 5.1% in the first calculation to 4.9%, while the 5-year forecast remained stable at 3%.
The continued impact of inflation, rising interest rates, falling asset prices and the prospect of a weakening labor market are all factors affecting consumer confidence.
Brazil has legalized cryptocurrency as a payment method
Brazil has not yet recognized Bitcoin as legal tender, but it has passed a law recognizing cryptocurrencies as a valid form of payment in all countries. This will provide a regulatory boost to the widespread use of cryptocurrencies and the growth of this market.
Brazil’s Chamber of Deputies has created a regulatory framework that will allow citizens to use cryptocurrencies as a currency for payments. The bill expands payment options to include digital currencies and airline mileage programs.
Cryptocurrency payments for goods and services will soon receive the support of the law: as soon as it receives the signature of the President of the Republic.
Course Bitcoin this is the morning $16,867, an increase of 2.5% and a 24-hour trading volume of $25 billion. Its live market capitalization is $324 billion, up from $316 billion yesterday.
BTC is trading higher after gaining support at $16,000 and breaking through resistance at $16,650. Now he has the opportunity It is heading towards the next resistance level of $17,250.
On the downside, support remains around $16,650. The RSI and MACD indicators are still in the buy zone, suggesting the continuation of the uptrend. Then you can Consider a buy position above $16,650 today.
The price of Ethereum
Ethereum price today 1269 dollars, the 24-hour trading volume is $8 billion. In the last 24 hours Ethereum gained about 5%. Its market cap is $155 billion with 122,373,866 coins in circulation.
Ethereum is in a strong uptrend highlighted by the 50% Fibonacci retracement at $1,150 and rising candles on the Japanese candlestick chart. Additionally, ETH broke above the symmetric triangle pattern at $1,200 on a 4-hour time frame. strong recovery potential.
Thus, the Ethereum price may continue to rise towards the next resistance level of $1,290/$1,300 and a break above it may be possible. $1,340 could lead to the next resistance level.
ETH’s RSI and MACD indicators are in the buy zone, as is the 50-day moving average. the upward trend is expected to continue. So today it will be possible to try buy orders just above $1235.
Cryptocurrency pre-sale with huge potential profit
Dash 2 Trade (D2T)
Dash 2 Trade is developed by Learn 2 Trade and provides investors with market-based insights, trading signals and price prediction services. The goal of the platform project is to provide reliable information to enable users to make sound investment decisions by early 2023.
Dash 2 Trade gained interest from investors after earning $7 million in one month. As a result, the D2T team decided to stop the project at stage 4 and reduce the target to $13.4 million.
Dash 2 Trade got two exchanges (LBank and BitMart) to list the D2T token after the sale ended. 1 D2T is currently worth 0.0513 USDT, but will be listed as 0.0533 USD when the sale ends.