Ethereum

Bitcoin

<p style="text-align: justify">After a shocking sell-off, the king of cryptocurrencies, <a href="https://en.coin-turk.com/soaring-altcoins-in-the-cryptocurrency-market-following-bitcoins-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, has climbed back above $37,700, and volatility is dizzying. Altcoins have not returned to their resistance levels after the recent drop, but if the daily closing remains at current levels, they could start double-digit rallies again. So what does the current outlook indicate for <a href="https://en.coin-turk.com/us-inflation-report-impacts-decoding-its-potential-effect-on-bitcoin-and-altcoins/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> and ETH?</p>
<h2 style="text-align: justify" id="bitcoin-btc-analysis">Bitcoin (BTC) Analysis</h2>
<p style="text-align: justify">At the time of writing, Bitcoin, which found buyers at $37,600, is experiencing a delayed rise. Yesterday’s inflation data was very positive. Today, we also saw a leading indicator for CPI, PPI, which came in at -0.5% monthly. This means that the decline in inflation will continue. Moreover, as the Fed approaches the interest rate ceiling, we are entering an environment where statements could become even softer.</p>
<p style="text-align: justify">Bitcoin fell victim to profit-taking on November 13th and 14th, and panicked <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> acted hastily. After a massive sell-off, the price returned to where it started. Glassnode data shows that addresses with over 1,000 BTC have been making rapid sales recently.</p>
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-276874 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BTC-Kasim-Tahmin.png" alt="" width="1918" height="790"></p>
<p style="text-align: justify">Speaking of price, the strong bounce from the support line shows that buyers at lower levels continue to be attracted. Bulls will try to push the BTC/USDT pair above the resistance line, but they may face strong selling pressure from bears. We need to see the price quickly surpass $38,000 and close above it.</p>
<p style="text-align: justify">In the opposite scenario, the current target is $34,400, with support levels at $32,400-$31,800.</p>
<h2 style="text-align: justify" id="ethereum-eth-analysis">Ethereum (ETH) Analysis</h2>
<p style="text-align: justify">ETH had regained $2,000 with ETF support, but the volatility in BTC’s price led to the loss of the challenging resistance zone. Now, the altcoin king needs to surpass the $2,000 level again and break through the resistance zone between $2,137 and $2,200. Reclaiming this area will open the door to a new ATH journey.</p>
<p style="text-align: justify">Furthermore, Ethereum’s inflation has turned negative again. You can see the last 30 days’ data in the chart below. This indicates that transactions on the network are increasing and the amount of ETH burned is reaching reasonable levels. If negative inflation continues to strengthen along with the price, it could be a good story for a new cycle of growth.</p>
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-276881 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/ETH-Kasim-Tahmin.png" alt="" width="1918" height="797"></p>
<p style="text-align: justify">If the price of ETH continues to rise, reaching $3,000 with a parabolic increase would not be surprising.</p>
<div class="sorumluluk_reddi" style="text-align: justify"><strong>Disclaimer:</strong> The information in this article is not investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research before making any transactions.
</div> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-and-ethereum-current-outlook-and-price-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-and-ethereum-current-outlook-and-price-predictions/</a>

Bitcoin and Ethereum: Current Outlook and Price Predictions

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