Bitcoin, Ethereum and Fantom price predictions are up more than 35%
Bitcoin, the market’s dominant cryptocurrency, struggled to break through the $17,250 resistance level on December 2 and it is now at $16,950, down 1% in 24 hours. Ethereum is also lightweight It fell 0.6% to close to $1,275.
In general, the main cryptocurrency market It lost 1.3% this morning on December 2nd, total capitalization reached $849.73 billion. The total volume of operations carried out within 24 hours decreased by 14% compared to yesterday and amounted to 42.61 billion dollars.
The total DeFi volume is $2.99 billion, which is 7% of the total trading volume, while the total volume of stablecoins traded is $40.66 billion, or 95% of the market.
The most noticeable gains and losses in the market
Among the cryptocurrencies that gained in value in the last 24 hours, we can distinguish three cryptocurrencies that made good progress:
- EthereumPoW (ETHW): Gains over 20% from $4.
- GMX (GMX): 14% to $55.
- Terra Classic (LUC): up nearly 10% to $0.000185.
Also worth noting are cryptocurrencies that have pulled back significantly, such as:
- BinaryX (BNX): down nearly 6% to trade at $130.
- Curve DAO Token (CRV): down about 5% to $0.6350.
- Dogecoin (DOGE): Trading down more than 5% to $0.099.
Fed Chairman Jerome Powell’s statement
statements of Jerome Powellthe chairman of the federal reserve It is always scrutinized because of its huge impact on America’s economic health, monetary policy, and ultimately the cryptocurrency market.
He just said that the federal bank will slow the pace at which it raises interest rates from the next meeting.
The fall of the US dollar to a three-month record low was seen as an important factor supporting the rise in Bitcoin prices. BTC has a strong inverse feedback relationship to the USD price.
Decline in Bitcoin mining revenue
Data from Block Research shows this Bitcoin mining revenue fell 19.9% in November will reach approximately $472.64 million. This is seen as one of the main factors keeping any further growth in BTC in check.
Transaction fees accounted for only a small portion of bitcoin mining revenue ($12.32 million), while the block reward subsidy accounted for the majority of revenue ($460.32 million).
Bitcoin transaction fees are currently around 3% of total revenue, which is marginal growth. In terms of revenue, Bitcoin miners are doing 5 times better than Ethereum investors.
However, traders are reluctant to make strong bids ahead of the release of US payrolls data, which could affect monetary policy.
Bitcoin price
the the current bitcoin price is $16,950 daily trading volume is 25 billion dollars. Its actual market capitalization is $358 billion with 19,221,593 BTC tokens in circulation.
BTC rose to $17,250 and the Japanese candlestick chart as a result may indicate a negative correction.
Bitcoin also completed a 23.6% Fibonacci retracement at $16,900, and a candle close below $16,950 could trigger further selling. raising the price to $16,750.
Bitcoin also has support at $16,600, which is actually the 50% Fibonacci retracement and if it crosses it on the downside, BTC could then fall towards the next support at $16,450.
On the other hand, on the upside, the intersection of resistance at $17,250 It paves the way for prices of $17,650 or $18,100.
The price of Ethereum
the current priceEthereum For $1,275 It is the result of a loss of 0.6% on the last day of transactions with a market volume of 6 billion dollars. Thus, ETH’s market capitalization is $155 billion today.
Ethereum traded higher, however The $1,310 resistance level is not breachedthus, a bearish correction triggered by investors selling to take profits.
The uptrend has largely weakened over the past few days, giving way to the possibility of a a downtrend that may last for several days.
On the downside, Ethereum’s immediate support is around $1,225 It is possible to drop to 1150 dollarsif this level is exceeded.
The MACD and RSI indicators now diverge with the MACD in the sell zone and the RSI in the buy zone. The 50-day simple moving average is still showing a buying trend, however In general, the market is indecisive with small amplitude corrections.
On the other hand, a break from the $1,310 level is possible Push ETH to $1,354.
Phantom burns 35%
Fantom increased its bullish momentum on the morning of December 2 after rumors that the Fantom Fund would have a stable income and a 30-year reserve without the need to sell FTM tokens.
The rise really accelerated after Phantom Fund co-founder Andre Cronje leaked financial documents from the company on November 28. It had more than 340 million dollars in assets digital media and generated more than $10 million in annual revenue.
FTM has a price rose nearly 35% to $0.24, the highest level in three weeks. The increase is part of a significant rebound trend that began on November 22 when the cryptocurrency fell to $0.17. This is a 50% price increase for the next eight days.
On the technical analysis front, FTM has achieved a 61.8% Fibonacci retracement at $0.2580. On the upside, a break above the $0.2580 level could push the cryptocurrency up to $0.2830 or $0.3100.
On the negative side, FTM has immediate support at $0.2410 and the price may fall as low as $0.2235 and $0.2015if this support level breaks down.
Pre-sale cryptocurrency with massive revenue potential
Dash 2 Trade (D2T)
Dash 2 Trade is an Ethereum-based trading intelligence platform that provides traders of all skill levels with real-time analytics and social data, enabling them to make better-informed decisions. The platform will be launched in the first quarter of 2023 and will provide investors with information to help them make proactive trading decisions.
Dash 2 Trade is also succeeding, with two exchanges (LBank and BitMart) promising to list the D2T token after the sale ends. 1 D2T is currently worth 0.0513 USDT, but will drop to $0.0533 when the sale ends. D2T has so far raised more than $7.7 million by selling more than 88% of its tokens.
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