Bitcoin Price and Ethereum Prediction – Breakout This Level Could Pump BTC by 10% Today
The Bitcoin price is trading bearish near $20,600 during the Asian session, having bounced off the $20,000 support level. Similarly, Ethereum has gained over 4% to $1,585 and is heading north toward the 78.6% Fibonacci retracement level.
Early on October 29, major cryptocurrencies were trading in the green, as the global crypto market cap surpassed $1 trillion, up from $979.72 billion the day before.
DeFi's total volume was $4.00 billion, accounting for 4% of the crypto market's total 24-hour volume.
Mina (MINA), Dogecoin (DOGE), and Shiba Inu (SHIB) were the top performers in the last 24 hours. MINA's price has increased by more than 29% to $0.77, while DOGE's price has increased by nearly 15% to $0.086. At the same time, SHIB has gained more than 12% to trade at $0.000011.
TerraClassicUSD (USTC) has dropped more than 4% this week to $0.041. Casper (CSPR) has fallen by more than 3% to around $0.042.
The current Bitcoin price is $20,686, and the 24-hour trading volume is $48 billion. Bitcoin has surged over 8% in the last seven days. CoinMarketCap currently ranks first, with a live market cap of $397 billion, up from $388 billion yesterday.
Although Bitcoin exhibited a slight bearish correction yesterday, it's again showing an upward trend. The BTC/USD pair is now consolidating in a wide trading range of $20,000 to $21,000, which is being extended by 38.2% to 61.8% Fibonacci retracement levels.
The RSI and MACD are still holding in a buying zone, supporting the chances of a bullish trend continuation. Alongside, the 50-day moving average also suggests buying above $19,750.
As a result, a break of the 61.8% Fibo level has the potential to extend the buying trend to $21,900. If the current upward trend continues, Bitcoin could
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