Bitcoin Price and Ethereum Prediction – BTC Supports 10% Pump to $23,000
During the Asian session, the Bitcoin price is trading bearish, near $20,916 after the $20,000 support level has receded. Similarly, Ethereum has risen more than 2% to $1,637 and is heading for the 78.6% Fibonacci retracement level.
Early on October 30, major cryptocurrencies were trading in the green as the global crypto market capitalization passed $1 trillion with a trading volume of $91 billion.
Overall, the market is risk-averse ahead of the US Federal Reserve’s monetary policy and interest rate decision later this week.
Top Altcoin Winners and Losers
Dogecoin (DOGE), Klaytn (KLAY) and Waves (WAVES) have been the best 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 almost 19% to $0.29. Meanwhile, WAVES has gained more than 13% to trade at $3.80.
Mina (MINA) has fallen more than 5% this week to $0.70. TerraClassicUSD (USTC) has fallen by more than 6% to around $0.038.
Bitcoin price
The current Bitcoin price is $20,869, and the 24-hour trading volume is $39 billion. Bitcoin has risen over 8% in the past seven days. CoinMarketCap currently ranks first, with a 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 from 38.2% to 61.8%. However, the overall trading fundamentals remain bullish.
The RSI and MACD are still in a bullish zone, indicating that the positive trend is likely to continue. Additionally, the 50-day moving average recommends buying above $19,750.
As a result, a break of the 61.8% Fibo level could extend the buying trend to $21,900. Bitcoin could reach $22,500 if the current uptrend continues.
On the downside, Bitcoin’s immediate support level remains near $20,250. Today, investors may seek a buy position on a bullish breakout of $21,000 and vice versa.
Ethereum price
Ethereum’s current price is $1,630, with a 24-hour trading volume of $19 billion. Over the past seven days, Ethereum has increased by more than 24%. CoinMarketCap is now ranked number two, with a market capitalization of $199 billion, up from $194 billion yesterday.
On Sunday, the technical outlook for ETH/USD has not changed much and continues to show a bullish bias. The ETH/USD pair has completed a 61.8% Fibonacci retracement to $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 previous high of $1,595, indicating strong bullish power. If the price of ETH rises above $1595, it may reach $1650 or $1700.
Leading indicators such as RSI and MACD remain in the buy zone. As a result, the chances of a bullish correction remain strong above $1550. Meanwhile, support continues to hold at $1,404 today.
New crypto pre-sale
Aside from Bitcoin and Ethereum, new pre-sale coins are doing well and making headlines. For example, Dash 2 Trade, it is an Ethereum-based platform that aims to provide its users with real-time analysis and social trading signals; the amount raised so far represents a significant vote of confidence in the platform.
The company intends to launch its platform in the first quarter of 2023, after the pre-sale, with the D2T token expected to be listed on several exchanges.
The Dash 2 Trade pre-sale has increased 3.3 million dollars in less than a week, putting it on track to be one of the biggest token sales of the year. The Dash 2 Trade pre-sale is still ongoing; D2T tokens can be purchased for $0.05 USDT.
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