Bitcoin and Ethereum Price Predictions Await US Unemployment Figures
December 29 Bitcoin price prediction switch from bearish to bullish, as the rising trend line supports the price below $16,450. Despite this, however, BTC is down 0.5% on the day at $16,579. Similarly, Ethereum is curbing its downtrend above the $1,180 support level this morning at $1,194, the price is down 0.2% from yesterday.
Investors’ attention today will be on the US unemployment figures, which could affect cryptocurrency prices.
Major cryptocurrencies were trading lower on December 29. the capitalization of the global cryptocurrency market decreased by 0.27% to 795 billion dollars . Over the past 24 hours, the total market volume has increased by 15.10% to $31.03 billion.
Total DeFi volume now stands at $2.13 billion, which is about 7% of the total 24-hour trading volume. And the total volume of all stablecoins is now $29.05 billion, which is just over 93.61% of the trading volume.
US unemployment numbers will affect rates
The number of Americans who applied in the week ending December 17 new unemployment applications increased by 2,000 to 216,000. This figure below market expectations 220,000 and lingering signals of a stubbornly tight labor market are added to signals from the Federal Reserve on interest rates as well as an upward revision to US GDP.
Weekly swings were reduced by the decline in the 4-week moving average, which now sits at 221,750.
Finally, ongoing inquiries fell 6,000 to 1,672,000 for the week ended Dec. 3, the first weekly decline since October but still the second-highest since February. Today we will see the latest US unemployment figures and if they confirm a downward trend in the number of unemployed and therefore a tight labor market.
In general, encouraging data on unemployment figures usually results in a US dollar growth trendfollowed by a bitcoin sales trend and the overall cryptocurrency market.
The current price of one bitcoin $16,579 and the trading volume in the last 24 hours is 15 billion dollars. During the 4-hour period, Bitcoin is gaining strong support at $16,460, which extends along the upper trend line seen in the chart below.
A doji candlestick formation above and supports an ascending trend line strong opportunities for the course to change to the upsideand if that happens Bitcoin may return to its initial target of $16,750.
A break above the $16,720 level could lower Bitcoin price The next resistance level is at $16,990.
Finally, knowing that the RSI and MCD indices are in the sell zone, a break below the $16,460 support level could take Bitcoin to $16,200 or $16,000.
The price of Ethereum
Current price of Ethereum 1194 dollars, the 24-hour trading volume is $4 billion. Ethereum is down just 0.2% over the past 24 hours, and CoinMarketCap currently ranks it as the second largest cryptocurrency with a live market cap of $149 billion.
Ethereum, like Bitcoin, is trading with a bearish bias: however, ETH found immediate support at $1,180. This support level is extended by a A rising trend line visible for 4 hours.
A 4-hour candle close above $1,180 is likely triggers a bullish reversal soon of course. However, a bullish reversal could lead Ethereum price to an immediate resistance level of $1,220, which is extended by the 50-day simple moving average.
Alternatively, a break below the bullish line could extend the selling trend to the next support levels of $1150 and $1100.
Other high yield cryptocurrencies
The global cryptocurrency market is uncertain, but several new cryptocurrencies are making headlines. Let’s explore the opportunity to take advantage of it!
It works in the same way as the FightOut Platform (FGHT). personal sports trainer, except that the FGHT badge is an award for training periods. All activities are recorded and can be used to improve the stats of his metaverse avatar. opportunity Earn FGHT tokens It adds an extra incentive for people to stay healthy and exercise while taking advantage of blockchain technology.
Despite the general lack of liquidity in the cryptocurrency market, FightOut succeeded and attracted investors. Thanks to the token sale that started last week, it already is It has collected more than 2.4 million dollars. Current sale price 60.06 FGHT for 1 dollar (FGHT can be purchased with ETH or USDT), but this will increase as the sale progresses.
Dash 2 Trade (D2T)
Dash 2 Trade is another Ethereum based platform launch early next year, will provide real-time analytics and social commerce data. Trading signals, chain analytics, strategy building tools, and news feeds will be among its initial features, helping new and experienced traders track the volatile cryptocurrency market.
The The D2T token sale raised over $11 million and is expected to close in just 9 days, giving early investors a window of opportunity that will close quickly. On January 11, the altcoin will be listed on the first exchangeWith LBANK Exchange, Changelly Pro and Bitmart have been confirmed as initial trading platforms to support it.
C+Charge (CCHG) a Binance Chain-based peer-to-peer payment system for electric vehicle charging stations (VE). Due to launch in the second quarter of next year, it aims to increase access to carbon credits by rewarding consumers who charge their electric vehicles at their terminals.
The platform has already signed a deal with Perfect Solutions Turkey to add 20% of Turkey’s EV chargers to its network, which shows how quickly it can grow. 1 CCHG is currently trading at $0.013 and can be purchased with BNB or USDT.