How High Can Bitcoin (BTC) and Ethereum (ETH) Soar Before the Christmas Rally?


Recent Trends in the Crypto Market

As of November 11, the recent trends in the cryptocurrency market are showing a mix of resilience and optimism. Despite the usual ups and downs, investors are displaying a growing sense of bullishness, as seen in the market’s consistently upbeat performance. Even Federal Reserve Chair Jerome Powell’s hint at a potential March rate hike, aimed at reining in inflation to the 2% target, hasn’t dampened spirits. The market remains robust, thus challenging typical cautious sentiment.

Individual Cryptocurrency Trends

Zooming into individual cryptocurrencies, bitcoin (BTC) is now trading around $37,000. ethereum (ETH) is maintaining a position just over $2,000, having recently surged to a seven-month high of around $2,130, spurred by BlackRock’s interest in an ethereum ETF. Amidst these giants, ScapesMania (MANIA) emerges as a promising presale project with potentially high returns, making it an investor favorite.

Global Crypto Market Cap

The global crypto market cap has reached $1.4 trillion, with the market fear and greed index indicating a strong “greed” sentiment at 77. However, the crypto world remains a realm of unpredictability: every coin, from BTC and ETH to newcomers like MANIA, is subject to potential bullish and bearish turns.

ScapesMania (MANIA)

ScapesMania (MANIA) is a meticulously designed project that acts as a gaming ecosystem. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. The project is attracting attention with its wide range of features, the best technology, a professional team, and a long-term, highly ambitious vision. Presale discounts and stage bonuses only add to the project’s appeal.

bitcoin (BTC) and ethereum (ETH) Technical Analysis

bitcoin (BTC) is currently hovering around $37,000, showing a 6% increase over the past week. Its 24-hour trading volume has seen a significant decrease of 33%, hinting at a possible decline in market activity.

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From a bullish viewpoint, bitcoin (BTC) is flirting with the possibility of an upward breakout. Should it decisively push past the immediate ceiling of $37,750, the doors could swing open for a spirited climb towards higher resistance levels. On the bearish side, the asset’s immediate support lies near $36,700. A break below this could lead to testing further supports at crucial levels.

ethereum (ETH) has shown an 11% increase over the past week, indicating bullish sentiment. However, a notable 55% decrease in trading volume in the last 24 hours suggests a potential shift in investor sentiment or market dynamics.

In a bullish perspective, the asset’s immediate challenge is breaching the first resistance point at $2,135. Conversely, a bearish outlook becomes more plausible if ethereum (ETH) drops below the second support level at $2,019. The subsequent key levels to watch are the third support point near $1,981 and the moving average crossover points.

In the dynamic crypto market, bitcoin (BTC) and ethereum (ETH) stand out amidst the current market optimism. The former shows resilience, while the latter stays strong, spurred by institutional interest. This market is mirrored in a global crypto market cap but is tempered by experts like Donalt, who caution against potential shifts in investment from BTC to ETH, underscore the unpredictability of the market. The technical analysis of both bitcoin (BTC) and ethereum (ETH) reflects a market at a crossroads, balancing the potential for an upward surge against the risk of slipping beneath crucial support levels.



### News source: cryptodaily.co.uk

By Team