Bitcoin and Ethereum Price Prediction
Bitcoin failed to stay above the $16,900 support level, which has now become a major resistance this morning it is priced at $16,947. Ethereum also remains below resistance at $1240 and It is trading at $1,234.
With that in mind, so are BTC and ETH may experience a downward trend and is the total capitalization of cryptocurrencies 1.87% down reached 839.72 billion dollars compared to yesterday. During the last 24 hours, the total trading volume of the market increased by 2.40% and amounted to 36.85 billion dollars.
The most notable ups and downs in the market
We can distinguish 3 cryptocurrencies that have developed properly in the last 24 hours:
- Nexo (NEXO): Up about 3.50% to $0.6675.
- EOS (EOS): Up more than 2% to $0.9795.
- Synthetix (SNX): up about 2.6% to $1.96.
On the depreciating currencies side, we will mainly note:
- Axie Infinity (AXS): Trading at $8.15, down almost 8.5%.
- ImmutableX (IMX): Down about 8% to $0.4375.
- Dash (DASH): Down more than 8% to trade at $43.75.
Celsi Bankruptcy: Customers Can Get $44M in Cryptocurrency
Federal judge orders cryptocurrency lending platform Celsius returns $44 million worth of cryptocurrency to users of its services. Funds consist of cryptocurrencies previously held in accounts but later transferred to a Celsi deposit account.
Bloomberg reports that U.S. Bankruptcy Judge Martin Glenn orally ordered during a Dec. 7 hearing:
“I want this case to go forward. I want creditors to recover as much as they can and as quickly as possible.”
According to a Dec. 5 Bloomberg report, Celsius is seeking to sell $18 million in stablecoins held in these accounts to fund the reorganization, as Judge Glenn is scheduled to rule on ownership of the funds on Dec. 12.
Celsius claimed that users who deposited money into their accounts gave up ownership of the funds when they agreed to the company’s terms of service. what the judge is arguingseems to have won the case for users.
Keep an eye on US unemployment claims
Investors will focus on it today The number of claims for unemployment benefits in the United States, will be published. The number of people applying for unemployment benefits fell to 225,000 in the week ending November 26. The Labor Department said there were 241,000 applications, down 16,000 from the previous week on December 1. The four-week average of claims rose 1,750 to 227,000.
Initial jobless claims fell to 225,000 from the 235,000 expected for the week. a sign of an undisturbed and robust job market.
In light of these results, it is clear that American workers still enjoy exceptional job security despite current economic weaknesses: this tend to reinforce a more moderate fight against inflation with more moderate interest rates.
The current price of Bitcoin is $16,947, and the 24-hour trading volume is $19 billion. It gained only 0.3% in the last 24 hoursand its live market value is $323 billion.
Due to the strength of the US Dollar, the BTC/USD pair broke below the $16,900 support level, which is currently acting as quite strong resistance. BTC may fall the next support level is $16,500 even $16,000 in this scenario.
Nevertheless, it could make a rally above $16,900 It drags the price of BTC towards $17,200 or $17,350 and a new uptrend.
The price of Ethereum
The current price of Ethereum is $1,234, with a 24-hour trading volume of $5 billion. Ethereum makes a modest gain of 0.3% for the day and has a live market capitalization of $150 billion.
On the 4-hour chart, Ethereum broke the ascending channel supporting the coin at $1,238. Closing candlesticks below this level always indicates the possibility of a correction, even a decline.
Ethereum’s immediate support is around $1,200, and if this support is breached to the downside, ETH may drop to $1,180 or $1,150. On the positive side, Ethereum’s resistance remains between $1,240 and $1,280 and should support the price in the same waters as today.
IMPT presale ends in 4 days
IMPT is a new Ethereum-based network that will reward users who do business with environmentally conscious companies. IMPT has already raised over $15.6 million since its IPO in October 1 IMPT is currently trading at $0.023.
Building on this success, IMPT.io, a revolutionary carbon offset and carbon credit trading platform, end its token sale earlier than expected, on December 11: therefore, there are only a few days left to participate.