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Yusuf Balogun
Yusuf Balogun
Yusuf is an aspiring Journalist and Health law expert with a special focus on technology innovations. He is a writer at Right for Education, Libertist Centre for Education, Qwenu, and Editor at Gamji Press, UDUS.

In the early hours of today, November 24, major cryptocurrencies were trading in the green direction, as the global crypto market cap increased around 2% in the previous day to $83 billion. The leading cryptocurrencies, Bitcoin and Ethereum, showed signs of a new recovery, with Bitcoin trading at $16,673.

While Ethereum, the second most valuable cryptocurrency, followed Bitcoin and increased by more than 3% to $1,200. The total volume in DeFi was $3.57 billion, or 5% of the cryptocurrency market’s overall 24-hour volume. All stable coin volume combined was $58.36 billion, or 95% of the 24-hour volume of the whole crypto market.

Bitcoin Trading on the Green Spotlight 

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The price of one bitcoin is currently $16,659, and $32 billion is traded daily. In the past 24 hours, Bitcoin has climbed by more than 1%. With a live market valuation of $350 billion, up from $310 billion yesterday, CoinMarketCap currently holds the top spot. 19,215,637 BTC coins are now in circulation out of a total quantity of 21,000,000 BTC coins.

Near $16,600, Bitcoin is currently gaining momentum. Candles that close above this point raise the possibility of a bullish turn. The bullish trend may continue if a bullish engulfing breaks through the $16,350 resistance and closes above it.

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With this, more positive pressure might push the price up to the $17,180 resistance level. Again buying opportunities can be available up to the $18,650 level, which is extended by the 38.2% Fibonacci retracement level, if the $17,180 level is breached once more. On the downside, Bitcoin continues to find support near $16,000; should this level be broken, the value of the coin might go as low as $15,670.

Ethereum Following Bitcoin’s Direction

Ethereum currently has a price of $1,201 and an $11 billion 24-hour trading volume. Over the past day, Ethereum has increased by more than 3.5%. With a live market capitalization of $147 billion, CoinMarketCap is presently ranked #2. There are currently 122,373,866 ETH coins in circulation.

Ethereum has recaptured the $1,200 mark after breaking through a negative trendline around $1,190. The next region of resistance for ETH is at $1,240; if a double top formation and bullish breakout above this level occur, the price of ETH could then rise to $1,290.

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