Bitcoin Price and Ethereum Prediction – BTC Braces for 10% Pump to $23,000
During the Asian session, the Bitcoin price is trading bearish, near $20,916 after bouncing off the $20,000 support level. Similarly, Ethereum has risen more than 2% to $1,637 and is en route to the 78.6% Fibonacci retracement level.
Early on October 30, major cryptocurrencies were trading in the green, as the global crypto market cap surpassed $1 trillion with a trading volume of $91 billion.
Overall, the market is risk-on ahead of the US Federal Reserve's monetary policy and rate decision later this week.
Top Altcoin Gainers and Losers
Dogecoin (DOGE), Klaytn (KLAY), and Waves (WAVES) were the top performers in the last 24 hours. DOGE's price has increased by more than 50% to $0.1344, while KLAY's price has increased by nearly 19% to $0.29. At the same time, WAVES has gained more than 13% to trade at $3.80.
Mina (MINA) has dropped more than 5% this week to $0.70. TerraClassicUSD (USTC) has fallen by more than 6% to around $0.038.
The current Bitcoin price is $20,869, and the 24-hour trading volume is $39 billion. Bitcoin has surged over 8% in the last seven days. CoinMarketCap currently ranks first, with a live market cap of $400 billion, up from $397 billion yesterday.
The BTC/USD pair is now consolidating in a large trading range of $20,000 to $21,000, which is stretched by Fibonacci retracement levels ranging from 38.2% to 61.8%. However, the overall trading basis remains bullish.
The RSI and MACD are still in a bullish zone, indicating that the positive trend is likely to continue. In addition, the 50-day moving average advises buying above $19,750.
As a result, a breach of the 61.8% Fibo level might extend the buying trend to $21,900. Bitcoin might hit $22,500 if the present upward trend continues.
On the downside, Bitcoin's immediate support level is still near $20,250. Today, investors may seek a buy position upon a bullish breakout of $21,000 and vice versa.
Ethereum's current price is $1,630, with a 24-hour trading volume of $19 billion. In the last seven days, Ethereum has increased by more than 24%. CoinMarketCap is now ranked second, with a live market capitalization of $199 billion, up from $194 billion yesterday.
On Sunday, the ETH/USD technical outlook hasn't changed a lot and continues to exhibit a bullish bias. The ETH/USD pair has completed a 61.8% Fibonacci retracement at $1,550 and is now crossing above this level, indicating the possibility of a bullish trend correction.
On a daily chart, ETH has breached the previously placed high of $1,595 level, indicating strong bullish power. If the price of ETH rises above $1,595, it may reach $1,650 or $1,700.
Leading indicators such as the RSI and MACD remain in the buying zone. As a result, the chances of a bullish correction remain strong above $1,550. At the same time, support continues to stay at $1,404 today.
New Crypto Presales
Aside from Bitcoin and Ethereum, new coins on presale are doing well and making headlines. For instance, Dash 2 Trade, it's an Ethereum-based platform that aims to provide its users with real-time analytics and social trading signals; the amount raised thus far represents a significant vote of confidence in the platform.
The company intends to launch its platform in the first quarter of 2023, following the presale, with its D2T token expected to be listed on multiple exchanges.
The Dash 2 Trade presale has raised over $3.3 million in less than a week, putting it on track to become one of the year's largest token sales. The Dash 2 Trade presale is still ongoing; D2T tokens can be purchased for $0.05 USDT.