Bitcoin and Ethereum Price Prediction

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Cryptocurrency market volatility is reaching unprecedented levels as Bitcoin and Ethereum prices continue to soar. With the spectacular rise of Shiba Inu taking the world by storm, investors are looking for a reliable way to predict these price movements.

Shiba Inu saw a notable surge during the European session, rising over 20% to hit a high of $0.0000129. However, this momentum was short-lived as it quickly fell back to its original price of $0.000011.

Falling US retail sales, slowing inflation – what does this mean for consumers?

December saw the biggest drop in U.S. retail sales in a year, driven by a drop in purchases of cars and other items. This left shoppers with less money to spend, slowing economic growth heading into 2023.

US retail sales figures for December 2022 recorded a decline of 1.1% from November, which was revised from the 1% originally estimated. It was also higher than analysts had predicted, a drop of 0.8%.

Retail sales have fallen for two consecutive months, which has lowered demand for goods and left many manufacturers in dire straits. Data from December showed factory output suffered its worst fall in nearly two years, while producer prices also fell over the period.

The crypto market is currently in a bearish correction phase, caused by two main reasons.

Initially, the market had already become overbought and buyers were beginning to tire. They were waiting for something that would prompt a bearish correction in the market. U.S. retail sales data was weaker than expected, leading traders to believe the Federal Reserve may decide not to raise interest rates in light of poor economic data. As a result, investors turned to US stocks and cryptocurrency demand took a hit.Bitcoin Price

Currently, the price of Bitcoin stands at $20,937 after falling 1.50% in the last 24 hours, with a trading volume of $29 billion. Since the initial forecast on January 17, the anticipated value of Bitcoin has remained stable.

The cryptocurrency was unable to break above the $21,400 threshold and fell below the $20,000 mark. A bearish sign can be seen if the price of Bitcoin does not rise above $21,400, as the closing of the candles below this level could mean that buyers are running out of strength and sellers can enter the market.

The RSI and MACD are both overbought, which could be another reason for investors to predict a negative correction in BTC. Doji candles closing just below this level may also imply a negative swing in the near future.

Bitcoin price chart – Source: Tradingview

In contrast, Bitcoin’s immediate support is $20,800, and a breach below this level could lead to further selling up to the $20,000 level.

Further selling may occur below this level until it hits around $19,250. Moreover, a spike in demand for Bitcoin could push it past the $21,400 barrier and to the $22,850 level.

Ethereum Price

Ethereum is currently trading at $1,549 and has seen $10 billion in trading volume in the past 24 hours. Unfortunately, it has fallen by 1.50% during this period, but is still quite strong as it ranks 2nd with a market cap of $189 billion on CoinMarketCap. The

Ethereum struggled to clear the $1,600 double-top resistance zone, causing its value to decline to $1,500 due to surging selling pressure. Likewise, Bitcoin is experiencing a similar situation.

Ethereum price chart – Source: Tradingview

Ethereum is facing its biggest immediate support at $1,500. In the event of a break below this point, selling pressure could build up to $1,440 – based on its 38.2% Fibonacci retracement. If this is also breached, ETH could risk falling into the even lower $1,350 area.

With $1500 as the underlying support level, a rise to $1660 is likely as it acts as a resistance level.

Shiba Inu Price

The price of the Shiba Inu is currently $0.000012 and its 24-hour trading volume has reached an impressive $1.3 billion. In the last 24 hours, there has been an impressive 9% increase in the price of the Shiba Inu.

Currently, CoinMarketCap ranks SHIB 13th with a circulating market cap of $6 billion. Technically, SHIB should face immediate resistance near $0.0000124, and a bullish cross above this level could take SHIB to $0.000014. Support continues to hold near $0.00001139.

If the SHIB price falls below this level, it has the potential to reach $0.000010.

Get a head start with these top picks

Investing in pre-sale stage altcoins is an incredibly profitable opportunity for investors. By following the recommendations of these top-rated altcoins, they can get ahead and take advantage of the massive potential these coins will have to offer.

FightOut (FGHT)

FightOut offers a convenient and economical way to stay in shape. FGHT tokens allow you to enjoy personal training services at a fraction of the normal cost – perfect for anyone who wants to exercise on a budget!

FGHT’s pre-sale was an incredible success, raising an impressive $3 million in the process. All avatar-related activity has been carefully documented, offering you to use it as a reference when evaluating your performance. Don’t miss this amazing opportunity!

Don’t miss this incredible offer! You only have 5 days and 9 hours to get 60.06 FGHT for every $1 (in ETH or USDT). Additionally, market predictions suggest that the FGHT price will rise throughout the sale period – so hurry and take advantage of this offer right away.

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C+Load (CCHG)

C+Charge presents a revolutionary blockchain-based payment system for owners of electric vehicles. This platform will offer carbon credits in exchange for their first charge, which aims to greatly reduce carbon emissions.

This breakthrough technology has the potential to completely revolutionize the traditional carbon credit market, which has been heavily influenced by a select few. This can create a more level playing field and allow many companies to enter this market.

Analysts have predicted that the Voluntary Credit Market (VCM) will reach a staggering $100 billion by 2030. C+Charge, the pioneer in this sector, has already made great strides and raised capital of more than $310,000 during its pre-sale, signaling the growth of this industry.

Visit C+Charge now

Meta Masters Guild (MEMAG)

The Meta Masters Guild presale has taken an impressive jump to $550,000 now that it has crossed the $200,000 mark in just a few days. This incredible speed suggests that the market is quickly gaining confidence in the platform’s potential to generate profits and achieve success.

Meta Masters Guild is a mobile gaming guild that will launch its first game in the third quarter of 2023. MEMAG, their native token, will serve various purposes such as governance, staking, and purchasing items and NFTs on the platform. -shape. Additionally, they will develop play-to-earn and Web3 games.

A limited window of opportunity awaits early investors in the MEMAG sale, as it is currently offering 1 MEMAG for just $0.01!

However, this price is expected to rise in less than two weeks, so eager buyers should act quickly if they want to purchase the coin at its lowest possible cost. With a total of seven stages in the sale, don’t miss this incredible offer!

Visit Meta Masters Guild Now

Find the best price to buy/sell a cryptocurrencyCryptocurrency Price Tracker – Source: Cryptonews

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