Despite the climate of concern in the market, Bitcoin continues to rise, reaching almost $17,000 on November 30 with a increase of more than 2%. Similarly, Ethereum, is also in progress, having reached $1,270 with a voucher of more than 5%.
Global Cryptocurrency Market Shows 4% better than the day before and globalizes nearly 853 billion dollars. On the other hand, the total volume of transactions is down slightly (1%) and reached 47.37 billion dollars over 24 hours.
These transactions involved $2.89 billion in DeFi, representing 6% of the total 24-hour volume and $44.77 billion in stablecoins, representing 94% of the total amount.
The most notable gains and losses in the market
Among the many cryptos that see their course improve frankly, we can retain the following 3:
- Fantom (FTM): More than 10% higher at $0.2385.
- Huobi Token (HT): Up more than 5% to $7.
- ImmutableX (IMX): with almost 5.5% improvement at $0.4568.
On the side of the currencies which give ground, we will mainly note:
- UNUS SED LEO (LEO): Down more than 7.5% to trade at $3.78.
- Celo (CELO): down almost 3% at $0.65.
- BinaryX (BNX): losing more than 2% to trade at $142.
US consumer confidence is shaking again
The University of Michigan US Consumer Confidence Survey shows a score of 56.8 in November 2022 from 59.9 last month, triggering a bearish trend for the US Dollar and increasing demand for cryptocurrencies.
Indeed, given the negative correlation between the US dollar and cryptocurrencies, a decline in the US dollar generally incentivizes buying cryptos.
The inflation forecast for the year ahead has fallen to 4.9% from 5.1% in the first estimate, while the 5-year forecast remains stable at 3%.
The lingering impact of inflation, rising interest rates, falling asset prices and weaker labor market prospects are all factors that affect consumer confidence.
Brazil legalizes cryptocurrency as a payment method
Brazil has not yet recognized Bitcoin as legal tender, but it has passed a law recognizing cryptocurrencies as a valid form of payment in all the countries. This will provide a regulatory boost to the widespread use of cryptocurrencies and the growth of this market.
Brazil’s Chamber of Deputies has established a regulatory framework that will allow citizens to use cryptocurrencies as a currency for payments. The bill expands payment options to include digital currencies and airline mileage programs.
Payments in cryptocurrency for goods and services will soon have the support of the law: as soon as it receives the signature of the President of the Republic.
The price of bitcoin
The course of Bitcoin is this morning $16,867 showing an increase of 2.5% and a 24-hour trading volume of $25 billion. Its live market capitalization is $324 billion, up from $316 billion yesterday.
BTC is trading higher after gaining support at $16,000 and crossing resistance at $16,650. He now has the possibility of heading towards its next resistance level of $17,250.
On the downside, support remains around $16,650. The RSI and MACD indicators are still in a buy zone, implying that the uptrend should continue. You can then consider a buy position today at a value above $16,650.
The price of Ethereum
The current price of Ethereum today is $1,269, with a 24-hour trading volume of $8 billion. In the past 24 hours, Ethereum gained nearly 5%. Its market cap stands at $155 billion with 122,373,866 coins in circulation.
Ethereum is on a strong uptrend highlighted by its 50% Fibonacci retracement at $1,150 and bullish engulfing candles on the Japanese candlestick chart. Additionally, ETH broke out from the top of a symmetric triangle pattern at $1,200 on a 4-hour time frame indicating the possibility of a strong recovery.
Ethereum price could thus continue to rise towards the next resistance level of $1,290/$1,300, and a break above it could lead it to the next resistance level of $1,340.
ETH’s RSI and MACD indicators are in a buy zone, as is the 50-day moving average, reflecting a bullish trend expected to continue. Thus, today it will be possible to attempt buy orders just above $1,235.
Presale of cryptocurrency with huge potential gains
Dash 2 Trade (D2T)
Dash 2 Trade is developed by Learn 2 Trade and provides investors with market-driven insights, trading signals and price prediction services. The platform project aims to provide users with reliable information at the start of 2023 to enable them to make judicious decisions in their investments.
Dash 2 Trade has sparked investor interest after raising $7 million in just over a month. As a result, the D2T team decided to stop the project at Stage 4 and lower the target to $13.4 million.
Dash 2 Trade also got two exchanges (LBank and BitMart) to list the D2T token after the presale ended. 1 D2T is currently worth 0.0513 USDT, but when the sale ends, it will show as $0.0533.
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