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
The price of Ethereum is $1,181 at the moment, and its 24-hour trading volume is $3.9 billion. With a live market worth of $161 billion, Ethereum has increased by about 4% over the past day and is presently ranked second on CoinMarketCap.
Ethereum is trading turbulent on the 4-hour chart, holding a constrained range between $1,150 and $1,200. Ethereum may go below $1,150 as a result of the 50-day moving average’s extending resistance at the $1,240 level and the RSI’s continued holding in a selling zone.
On the downside, the next support for ETH is probably going to be around the $1,115 or $1,080 mark.
Bitcoin Price Prediction
The price of bitcoin is currently $16,727, and there are $12 billion worth of transactions every day. In the past 24 hours, the BTC/USD pair has increased by over 0.15%, and CoinMarketCap is currently in first place with a live market cap of $321 billion.
On Monday, the BTC/USD is anticipated to encounter initial support around to $16,560. With the RSI and MACD in the oversold region, BTC prices could soar to the 23.6% Fibonacci retracement level of $17,000.
Future resistance for the BTC/USD pair will come from the 50-day simple moving average at $17,250 and the 38.2% Fibonacci retracement level. The $16,150 support level might be exposed if Bitcoin prices drop below $16,570.
Cardano Price Prediction
On the daily chart, it is possible to notice Cardano’s price rising toward the bottom border support of a falling channel. Previous attempts to lift the price over the middle border of the channel failed because it was unable to move above the $0.33 resistance level.
ADA’s price is currently moving in the direction of the trendline’s support level of $0.27.
Overhead pressure is anticipated to rise if the Moving Average Convergence Divergence (MACD) indicator displays a sell signal. When the MACD (seen in blue) passes below the signal line, investors should accelerate their selling (shown in red).
It’s crucial to keep in mind that the path of least resistance for Cardano is lower because the MACD is currently below the mean line (0.00).
The rising bearish pressure on the price of Cardano can become more intense if the channel’s bottom limit support ($0.27) fails to hold.
Just below the channel, before the potential take-profit targets of $0.26 and $0.20, respectively, sell orders might be put. In order to access a tonne of liquidity and turn firmly positive, Cardano will, if required, retest the level of support at $0.16.
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