The cryptocurrency market operates similarly. One of the most significant benefits of cryptocurrencies is that they have made it possible for many people to earn sizable sums of money through digital assets.
Any digital or virtual currency that uses encryption to protect transactions is referred to as cryptocurrency, sometimes known as crypto-currency or crypto.
Cryptocurrencies employ a decentralized structure rather than a single issuing or regulating authority to track transactions and create new units.
Ethereum Price Prediction
This is bad news for the short-term momentum of the cryptocurrency as ETH has failed to sustain its position above both its 50-Day Moving Average and the 38.2% Fibonacci retracement mark back from the November lows to the November highs.
Ethereum’s medium-term uptrend from the November lows is still in place for the time being, despite bears’ expectations for a short-term retest of the 21DMA in the $1,250s. If this level is breached, the uptrend that started in November may have been broken, weakening the outlook for ETH and triggering a slide toward $1,200.
The latest price movement, or the rebound that was recently sold off, is very much in accordance with Ether’s longer-term decline, which has been in force since the summer.
In the following months, the negative trend suggests a slide towards $1,000, and any rises might be constrained to the $1,500 range.
Due to the lack of a dovish Fed shift, which many in the market had been expecting after Tuesday’s weaker-than-expected US CPI data, the much-anticipated “Santa surge” seems unlikely to occur this year.
Bitcoin Price Prediction
Since BTC has remained above the crucial support level of $16,550 during the Asian session of today, the Bitcoin price prediction hasn’t changed much. The market is expecting a crucial on-chain signal in order to enter a classic bull market, given the upbeat technical indicators.
The persistent worry in the market keeps the value of Bitcoin and other cryptocurrencies in check.
The price of bitcoin is at $16,747, and $11 billion worth of transactions take place every day. Since yesterday, Bitcoin’s price has decreased by almost 0.20%.
On Sunday, it is anticipated that the BTC/USD pair will find immediate support around $16,560. The RSI and MACD indicators are in the oversold region, which might force BTC prices to surge to the $17,000 23.6% Fibonacci retracement level.
Cardano Price Prediction
On the daily chart, it is possible to see Cardano’s price advancing approaching a falling channel’s lower border support. The price was unable to advance above the $0.33 resistance level in previous attempts to move the price above the middle border of the channel, which failed.
The price of ADA is presently going toward the trendline support level of $0.27.
If the Moving Average Convergence Divergence (MACD) indicator indicates a sell signal, overhead pressure is expected to increase. Investors should increase their selling when the MACD (seen in blue) crosses below the signal line (shown in red).
It’s critical to remember that because the MACD is currently below the mean line, the path of least resistance for Cardano is lower (0.00).
If the channel’s bottom limit support ($0.27) breaks down, the growing bearish pressure on Cardano price can intensify.
Sell orders might be placed just below the channel, ahead of probable take-profit targets of $0.26 and $0.20, respectively. Cardano will, if necessary, retest the level of support at $0.16, where it will have access to a tonne of liquidity and turn firmly bullish.
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