Bitcoin is trading on the decline in a still very volatile and undecided market, having lost more than 3% over the past 24 hours. Its price is at $16,112 on this morning of November 21. Ethereum suffers a roughly identical fate with a sharper decline of more than 7% to a price of $1,129.
The global cryptocurrency market is in down 4% from yesterday and is valued at $803 billion. Market activity, on the other hand, is picking up again, as 24-hour trading rose 59% to $52.85 billion.
DeFi’s share is up to 8% of total volume, or $4.60 billion, and stablecoins total just over $51 billion in transactions, or 97% of the market’s total 24-hour volume.
The most notable gains and losses in the market
Among the crypto-currencies that see their price progress, the three biggest increases are to be attributed to:
- NEM (XEM): With a rise of more than 4% to $0.035.
- UNUS SED LEO (LEO): With more than 2% up at $4.45.
- BinaryX (BNX): which shows nearly 0.20% upside at $153.88.
On the side of the falls, they are more pronounced and in particular for the following currencies:
- Chiliz (CHZ): Falling back over 15% to trade at $0.1930.
- EthereumPoW (ETHW): Down more than 13% to $3.20.
- NEAR Protocol (NEAR): With a pullback of 13% to $1.51.
The price of bitcoin
The current Bitcoin price stands at $16,112 with a 24-hour trading volume of $28 billion. With a drop of more than 3% in one day, the total bitcoin valuation in circulation amounts to $309 billionfor 19,213,150 tokens.
Bitcoin still remains in the same trading range of $16,000-$17,000 for nearly a week with resistances and supports expected to define the price action going forward.
Immediate resistance at $17,250 could take the course to $18,100 if crossed on the upside, while the fairly close support at $15,800, could be the sign of a pullback towards $14,550 if it were crossed downwards.
These movements will therefore be closely monitored in the coming days to define a trend for the BTC market in the medium term.
The price of Ethereum
With a current price at $1,129, Ethereum lost more than 7% over 24 hours and today weighs 138 billion dollars for 122,373,866 coins in circulation.
On the graphical analysis of the Ethereum price, we can see an exit from a symmetrical triangle from below. This sign can be interpreted as a continuation of the downtrend of this crypto.
On the other hand, the 50-day moving average is rising with resistance at $1,215. It is this threshold which, once crossed upwards, could be the harbinger of a recovery in the price of ETH.
On the contrary, candlestick analysis below this level may signal further selling and send Ethereum down to levels of $1,075 or $1,000.
NEM improves by 30%
The NEM cryptocurrency has a current price of $0.03461 with a handsome daily trading volume of $62 million. This activity is bearing fruit as the price has appreciated by 3.50% in the last 24 hours and by more than 30% over the past week. With 8,999,999,999 XEM tokens in circulation, the crypto represents a total asset of $311 million.
If we look at the price chart, we can see that NEM arbounced above the $0.030 support levelwhich may indicate a persistent upward trend, which will have to be confirmed in a few days. .
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