Bitcoin is mostly unchanged on November 16 as it continues to consolidate below the 23.6% Fibonacci retracement level of $17,200, which is now acting as resistance. Ethereum, the second-most valuable cryptocurrency, is also trading sideways, with a price range of $1,200 to $1,285.
Major cryptocurrencies were trading in the green early on November 16, as the global crypto market cap gained over 0.50% on the previous day to $847 billion. In the last 24 hours, the crypto market volume has increased by 25% to $62.50 billion.
DeFi’s total volume is currently $3.86 billion, accounting for over 6% of the overall crypto market 24-hour volume. The overall volume of all stablecoins is now $58 billion, accounting for 93% of the total 24-hour volume of the crypto market.
Let’s take a look at the top altcoin gainers and losers over the last 24 hours.
Top Altcoin Gainers and Losers
Chiliz (CHZ), Stacks (STX), and Algorand (ALGO) are three of the top 100 coins that have gained value in the last 24 hours. The CHZ price has soared by more than 16% to $0.2325, the STX price has grown by more than 12% to $0.2480, and the ALGO price has increased by nearly 12%.
Trust Wallet Token (TWT) has dropped more than 16% in the last 24 hours to trade at $1.89. Helium (HNT) has dropped by more than 5% in the last 24 hours to trade at $2.45.
The current Bitcoin price is $16,892, and the 24-hour trading volume is $35 billion. Bitcoin has increased by less than 1% in the last 24 hours. CoinMarketCap currently ranks first, with a live market cap of $324 billion, down from $352 billion.
It has a maximum supply of 21,000,000 BTC coins and a circulating supply of 19,208,587 BTC coins.
Bitcoin’s technical aspects haven’t changed much, as it’s still trading exactly in line with our previous Bitcoin price prediction.
Bitcoin is consolidating in a wide trading range between $18,000 and $16,000, with a breakout determining future price action. Bitcoin has completed a 38.2% Fibonacci retracement at the $18,100 level in the 4-hour timeframe and is now stable. When the price rises above $18,100, a positive crossover occurs.
The Bitcoin price may be exposed to the 61.8% Fibonacci level of $19,350 at this level. If Bitcoin fails to break through the 38.2% Fibonacci retracement level of $18,250, it could fall below $15,965.
The MACD, a forward-looking technical indicator, has crossed into the buy zone, while the 50-day moving average and the relative strength index (RSI) remain bearish. If Bitcoin’s closing prices remain below $18,000, the currency’s decline is likely to continue; $16,000 and 15,850 are nearby levels of support.
The current price of Ethereum is $1,256, with a 24-hour trading volume of $11 billion. In the last 24 hours, Ethereum has gained less than 0.50%. With a live market cap of $153 billion, CoinMarketCap currently ranks second. It has a circulating supply of 122,373,866 ETH coins and no maximum supply.
On the daily chart, there has been a bullish retracement, and Ethereum has reclaimed the $1,262 level. As an immediate resistance level for Ethereum, the 50-day moving average provides support. If the bullish crossover above $1,370 holds, the rebound could accelerate to $1,506 or $1,670.
Support remains near $1,170 or $1,095. If ETH falls below this level, it has the potential to reach $1,000, or $881, but this appears unlikely for the time being.
Chiliz Price Prediction as CHZ Pumps 16%
Chiliz currently trades at $0.2334 with a 24-hour trading volume of $740 million. Chiliz has increased by over 16% in the previous 24 hours. CoinMarketCap now ranks #34 with a live market cap of $1.4 billion.
There are 6,086,972,347 CHZ coins in circulation, with a maximum supply of 8,888,888,888 CHZ coins.
The CHZ/USD pair is on a bullish streak, having broken through a major resistance level of $0.2300, and closing candles above this level has the potential to initiate an uptrend until the $0.2600 or $0.2840 level.
The next level of resistance on the upside remains at $0.3315. CHZ has crossed above its 50-day moving average, which is now supporting the coin at $0.2300 and implying that the bullish trend will continue.
On the downside, the CHZ/USD may find support near $0.2320, with $0.1810 acting as significant support. Over $0.2300, the bullish bias remains strong.
Compiled by Coinbold