Bitcoin Price and Ethereum Prediction; Breakout Patterns Will Drive Price Action
During the Asian session on December 19, Bitcoin is trading at $16,700, as investors appear to be waiting for a solid fundamental reason to drive price action. Similarly, Ethereum is trading in a choppy range of $1,150 to $1,200. A break out of this range will help us determine future market price movements.
Major cryptocurrencies were trading in the red early on December 19, despite the fact that the global crypto market cap grew 0.60 percent to $812.94 billion on the previous day. The entire cryptocurrency market volume for the last 24 hours is $21.44 billion, a decline of 23.51 percent.
The overall volume in DeFi was $1.17 billion, accounting for 5.46 percent of the total 24-hour volume in the crypto market. The overall volume of all stablecoins was $19.30 billion, accounting for 90.04 percent of the total 24-hour volume of the crypto market.
Crypto Whales offloaded 280k BTC in 30 days
The biggest Bitcoin (BTC) holders, called "whales," have been selling more Bitcoin than ever in a single 30-day period. According to on-chain statistics gathered by Glassnode, these whales have dumped a total of 280,000 BTC during the past 30 days.
At present, whales are thought to control roughly 9 million BTC, which is a sizable proportion of the entire BTC supply.
Bitcoin's price can be affected by the selling of major holders, who wield considerable market power.
On-chain Glassnode data verify the concentration of sale pressure has been coming from BTC whales, as shown by the Trend Accumulation Score by Cohort indicator.
Bitcoin's current price is $16,727, and the 24-hour trading volume is $12 billion. The BTC/USD pair has gained nearly 0.15% in the last 24 hours, while CoinMarketCap currently ranks first with a live market cap of $321 billion.
The BTC/USD is expected to find initial support near $16,560 on Monday. BTC prices could surge to the 23.6% Fibonacci retracement level of $17,000 with the RSI and MACD in the oversold zone.
The 38.2% Fibonacci retracement level and the 50-day simple moving average at $17,250 will act as new resistance for the BTC/USD pair going forward. If Bitcoin prices fall below $16,570, the $16,150 support level may become vulnerable.
Ethereum's current price is $1,181, with a $3.9 billion 24-hour trading volume. In the last 24 hours, Ethereum has gained nearly 4%, and CoinMarketCap currently ranks second, with a live market cap of $161 billion.
On the 4-hour chart, Ethereum is trading choppy maintaining a narrow range of $1,150 to $1,200. Since, the 50-day moving average is extending resistance at the $1,240 level, and the RSI is holding in a selling zone, Ethereum has the potential to drop below $1,150.
On the lower side, ETH's next support is likely to be found at around the $1,115 or $1,080 level.
Alternatively, an above $1,200 may expose ETH to the $1,235 level.
High-Profitability Alternative Coins
The global crypto market is bearish but there are few coins making headlines. Why don't we check them out?
FightOut (FGHT) – Presale Launches
FightOut, a new move-to-earn (M2E) fitness app and gym chain that aims to bring the fitness lifestyle to web3, has attracted the attention of investors who see the project as having the potential to revolutionize the current web3 M2E landscape, has launched its presale.
While existing M2E apps such as StepN only measure steps and require expensive non-fungible token (NFT) buy-ins to join, FightOut takes a more comprehensive approach to tracking and compensating users for exercise and activity that does not require any such buy-ins.
Because the presale raised over $2.85 million in just a few days, interested investors are urged to act quickly to secure their FGHT tokens at the current price of 60.06 USDT per 1 USDT.
The FGHT coin will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T) - Final Stage of Pre-Sale
Dash 2 Trade is a promising cryptocurrency trading platform startup in which to invest. With its unique features, the new analytics and social trading platform are predicted to take the crypto trading sector by storm.
Trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system, and a strategy back-testing tool are among the features.
The Dash 2 Trade ecosystem will be powered by the D2T token, which users must purchase and hold in order to use the platform's services. Dash 2 Trade is now doing a token pre-sale at significantly reduced pricing, with sales just topping $10.1 million.
Tokens may now be purchased for $0.0533 per token and will be available on numerous centralized exchanges within the next month.
Calvaria (RIA) – Final Presale Stage Now
A new play-to-earn battle card crypto game called RIA could become a reality. Calvaria's objective is to enhance cryptocurrency acceptability through the creation of a bridge between the real world and cryptocurrency in the shape of an entertaining and simple-to-play crypto game.
Calvaria's RIA token pre-sale may pique the interest of investors. Calvaria has now raised $2.48 million and is closing in on the completion of its fundraising campaign, with only 20% of tokens remaining.