During the December 19 Asian session, bitcoin is trading at $16,700 as investors appear to be waiting for a strong fundamental reason to drive price action. Similarly, Ethereum is trading in a choppy range of $1,150-$1,200. A breakout of this range will help us determine future market price action.
Major cryptocurrencies were trading in the red in the early morning of December 19, even as the global crypto market capitalization rose 0.60% to $812.94 billion the previous day. Total cryptocurrency market volume in the last 24 hours is $21.44 billion, down 23.51%.
Total DeFi volume was $1.17 billion, which is 5.46% of the total 24-hour volume in the crypto market. The total volume of all stablecoins was $19.30 billion, which is 90.04% of the total 24-hour volume of the crypto market.
Crypto whales dumped 280,000 BTC in 30 days
The largest Bitcoin (BTC) holders, the so-called “whales”, have sold more Bitcoin than ever before in a single 30-day period. According to on-chain stats collected by Glassnode, these whales have lost a total of 280,000 BTC in the past 30 days.
Currently, the whales are believed to control around 9 million BTC, which is a significant portion of the total BTC supply.
The price of bitcoin can be affected by the sale of large shareholders who hold significant market power.
On-chain data from Glassnode shows that the selling pressure is mostly coming from BTC whales, as seen in the Trend Accumulation Score by Cohort indicator.
bitcoin price
The current bitcoin price is $16,727 and the 24-hour trading volume is $12 billion. The BTC/USD pair is up nearly 0.15% in the past 24 hours, while CoinMarketCap currently ranks number one with a live market cap of $321 billion.
BTC/USD is likely to find initial support at $16,560 on Monday. BTC prices could rally to the $17,000 23.6% Fibonacci retracement level as the RSI and MACD are in oversold territory.
The 38.2% Fibonacci retracement level and the 50-day simple moving average at $17,250 will act as further resistance for the BTC/USD pair going forward. If bitcoin prices break below $16,570, the $16,150 support level could become vulnerable.
Ethereum course
The current price of Ethereum is $1,181, with a 24-hour trading volume of $3.9 billion. In the past 24 hours, Ethereum has gained almost 4%. CoinMarketCap currently ranks Ethereum in second place with a live market cap of $161 billion.
On the 4-hour chart, Ethereum is trading choppy, floating in a tight range of $1,150-$1,200. With the 50-day moving average extending resistance at $1,240 and the RSI in a sell zone, Ethereum has the potential to drop below $1,150.
On the other hand, the next support for ETH is likely to be around $1,115 or $1,080.
Alternatively, above $1,200, ETH could rally to $1,235.
Highly cost effective alternative parts
The global crypto market is bearish, but a few coins are making headlines. Why not watch them?
FightOut (FGHT) – Presale begins
FightOut, a new fitness channel and move-to-earn (M2E) fitness apps aimed at bringing the fitness lifestyle to web3, has caught the eye of investors who see the project’s potential to transform web3 to revolutionize the M2E landscape.
While existing M2E apps like StepN only measure steps and require expensive non-fungible tokens (NFTs) to participate, FightOut takes a more comprehensive approach to tracking and compensating users for moves and activities that don’t require such. buy-ins.
With the presale having raised over $2.85 million in just a few days, interested investors should act quickly to secure their FGHT tokens at the current price of 60.06 USDT per 1 USDT.
The FGHT coin will power the crypto ecosystem of FightOut.
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Dash 2 Trade (D2T) – Last step of the presale
Dash 2 Trade is an up-and-coming cryptocurrency trading platform startup to invest in. With its unique features, the new social analytics and trading platform is set to take the crypto trading industry by storm.
Features include trading signals, social sentiment indicators and on-chain indicators, pre-sale token rating system, token list alert system, and strategy testing tool.
The Dash 2 Trade ecosystem is powered by the D2T token, which users must purchase and hold to use the platform’s services. Dash 2 Trade is currently pre-selling the tokens at significantly discounted prices, with revenue just exceeding $10.1 million.
The tokens can be purchased now for $0.0533 per token and will be available on many major exchanges over the next month.
Visit Dash 2 Trade here
Calvaria (RIA) – Final presale phase now
A new crypto card game called RIA could become a reality. Calvaria’s goal is to improve cryptocurrency adoption by creating a bridge between the real world and cryptocurrencies in the form of a fun, easy-to-play crypto game.
Calvaria’s RIA token pre-sale may spark investor interest. Calvaria has now raised $2.48 million and is nearing the end of its fundraising campaign with only 20% of the tokens remaining.
Visit Calvary now
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