Bitcoin Price and Ethereum Rebound; Litecoin Jumps 30%

Leading cryptocurrency Bitcoin showed fresh signs of recovery, trading at $16,673 on Nov. 24, despite the release of dovish FOMC meeting minutes during the U.S. session yesterday. Likewise, ethereum, the second most valuable cryptocurrency after bitcoin, rose more than 3 percent to $1,200.

Major cryptocurrencies were trading in the green early on Nov. 24, with the global cryptocurrency market capitalization up about 2% the previous day to $83 billion. In contrast, total cryptocurrency market volume fell more than 4 percent to $61.23 billion in the past 24 hours.

The total volume of DeFi was $3.57 billion, accounting for 5% of the total 24-hour volume of the cryptocurrency market. The combined volume of all stablecoins was $58.36 billion, or 95% of the total 24-hour volume of the cryptocurrency market.

Let’s take a look at the 24-hour gains and losses of altcoins.

Top Altcoin Winners and Losers

Klaytn (KLAY), Solana (SOL) and BNB (BNB) are three of the top 100 coins that appreciated in value over the past 24 hours. The price of KLAY rose more than 12% to $0.18, the price of SOL rose more than 10% to $14, and the price of BNB rose nearly 9%.

Top Altcoin Winners and Losers – Source: Coin360

WEMIX (WEMIX), Bitcoin Cash (BCH) and Litecoin (LTC) are three of the top 100 coins that lost value in the past 24 hours.

Bitcoin Cash and WEMIX have fallen by more than 2%, trading at $113 and $1.50, respectively.

However, Litecoin is down 3% in the past 24 hours after surging 30% in the past 7 days, which may just be a bearish correction.

LTC will be discussed further in the update below.

FOMC Minutes: Fed Officials See Smaller Rise

Minutes of the Fed’s meeting earlier this month, released on Wednesday, showed that participants agreed that future increases should be smaller when assessing the impact of policy on the economy.

The summary of the meeting echoed numerous official statements over the past few weeks that pointed to more modest gains on the horizon.

The rate-setting Federal Open Market Committee is widely expected to ease to a half-percentage-point increase in December after four straight 0.75-percentage-point gains.

Officials signaled less drastic measures were imminent, but they insisted there was no evidence of a slowdown in inflation.

Still, some committee members expressed concern that there could be vulnerabilities in the financial system if the Fed maintains its current aggressive course of action.

Demand for the U.S. dollar has weakened due to dovish sentiment, leading to lower prices and a surge in demand for cryptocurrencies.

bitcoin price

The current bitcoin price is $16,659, with a 24-hour trading volume of $32 billion. Bitcoin is up more than 1% in the past 24 hours. CoinMarketCap is currently ranked number one, with a real-time market capitalization of $350 billion, up from $310 billion yesterday. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,215,637 BTC coins.

Bitcoin Price and Token Economics – Source: coinmarketcap

Bitcoin is currently gathering momentum around the $16,600 mark. A candle close above this level indicates the possibility of a bullish reversal. A bullish engulfing break above the $16,350 mark and a close above it suggests that the bullish trend may continue.

Therefore, additional bullish pressure could push the price towards the $17,180 mark. If the $17,180 level is breached again, there could be more buying possibilities until the $18,650 level, which is extended by the 38.2% Fibonacci retracement level.

Bitcoin price chart – Source: Tradingview

With both the RSI and MACD in buy territory, we might expect the rally to continue. If the $17,000 mark is breached, BTC could drop to the $17,600 level.

On the downside, support for Bitcoin remains at $16,000, a break below which could take the currency as low as $15,670.

Ethereum price

Ethereum is currently trading at $1,201 with a 24-hour trading volume of $11 billion. Over the past 24 hours, Ethereum has gained more than 3.5%. CoinMarketCap currently ranks second with a real-time market capitalization of $147 billion. It has a circulating supply of 122,373,866 ETH tokens.

Ethereum Price and Token Economics – Source: coinmarketcap

On the 4-hour chart, Ethereum broke the downtrend line at $1,190 and reclaimed the $1,200 level.

ETH is now heading towards the next resistance area at $1,240, a double top formation and a bullish break above this level could take ETH price to $1,290.

Ethereum price chart – Source: Tradingview

On the downside, the ETH/USD pair may find immediate support at $1,190, below which a drop to $1,160 is possible. With the RSI and MACD indicators in the buy zone, we may see the uptrend continue.

Litecoin soars 30%

Litecoin is currently trading at $76 with a 24-hour trading volume of $1.6 billion. Litecoin is down more than 3% in the past 24 hours, but at the same time it is up more than 30% on a weekly basis.

With a real-time market capitalization of $5.4 billion, CoinMarketCap currently ranks 13th. It has a maximum supply of 84,000,000 LTC tokens and a circulating supply of 71,680,906 LTC tokens.

On the technical front, Litecoin was rejected below the $83.65 resistance and a candle close below this level sparked a bearish correction.

Litecoin price chart – Source: Tradingview

Litecoin has completed the 23.6% Fibonacci retracement and is now heading lower towards the next support at $74, which is extended by the 38.2% Fibonacci retracement.

The LTC/USD pair could see a bullish reversal above the support at $74 or $68.75 (61.8% Fib level).

Pre-Sale Cryptocurrency Dash 2 Trade (D2T) with Huge Potential Earnings

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 smarter decisions.

D2T was developed by the Learn 2 Trade service to provide investors with market-driven insights, trading signals and forecasting services. The cryptocurrency initiative promises to provide customers with enough information to make an informed decision.

D2T started its token sale three weeks ago and has already raised over $6.9 million. After the pre-sale, D2T will land on LBank and BitMart, and the asset price is expected to rise sharply.

1 D2T is currently worth 0.0513 USDT, but is expected to rise to $0.0533 in the next phase of the sale and to $0.0662 in the final phase.

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Find the Best Price to Buy/Sell CryptoCryptocurrency Price Tracker – Source: Cryptonews

Source of information: Compiled from CRYPTONEWS by 0x Information.Copyright belongs to the author, without permission, may not be reproduced

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