The appeal of cryptocurrencies persisted in 2021. Cryptocurrencies are now accepted by Goldman Sachs. In April 2021, Coinbase became the first significant cryptocurrency company to go public. The first U.S. exchange-traded fund with a focus on Bitcoin debuted in October of the same year.
The most well-known cryptocurrency, Bitcoin, had a prosperous year. The value of the digital currency has grown by about 70% since the start of 2021, pushing the total market value of cryptocurrencies past $2 trillion.
The majority of the major coins’ values have significantly increased this year, which has been great for the cryptocurrency market. Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP) are three other digital currencies doing well.
If the history of cryptocurrencies is any indication of the future, investors can look forward to an amazing journey.
The important Crypto predictions for 2023 are as follows:
Bitcoin Price Prediction
With a $28.9 billion 24-hour trading volume, the price of one bitcoin is at $24,207. Bitcoin’s value has increased by 0.47% during the past day.
With a live market value of $467 billion, a circulating supply of 19,299,243 BTC coins, and a maximum supply of 21,000,000 BTC coins, according to CoinMarketCap, Bitcoin is now the most valuable cryptocurrency.
With support coming from an upward trendline around roughly $24,000, Bitcoin is showing an ascending triangle pattern on the 2-hour period.
The next support level for Bitcoin is anticipated to be approximately $23,400 if its price drops below this mark. With both the RSI and the MACD indicators currently in the selling range, Bitcoin is under extra selling pressure.
The first resistance level for Bitcoin is expected to appear soon at $24,500. A price breakout over this level might occur if the purchasing pressure picks up steam, allowing Bitcoin to test the next resistance level at $25,200.
Ethereum Price Prediction
Ethereum’s live price right now is $1,665, with a $9 billion 24-hour trading volume. The price of Ethereum has risen by more than 1.25% over the past day.
Ethereum is the second-ranked cryptocurrency on CoinMarketCap, with a live market value of $203 billion.
Technically, the $1,780 immediate resistance level being encountered by the ETH/USD pair is being supported by the 50-day EMA. A closure below this threshold might start a downward trend in ETH prices.
The ETH/USD pair’s present downward momentum might possibly intensify, pushing the decline below the $1,600 or $1,565 support levels if there is a bearish breakthrough below the 38.2% Fibonacci retracement level.
Cardano Price Prediction
A token of ADA/USD was last trading at roughly $0.38, down around 10% from previous monthly highs in the $0.42 range.
In the midst of Wednesday’s widespread decline in cryptocurrency prices, Cardano is under selling pressure and now poses a risk of breaking back below its 200-Day Moving Average (DMA).
Crypto is following the lead of US stocks, which are declining due to concerns that equity investors may have underestimated the extent to which the Fed will continue raising interest rates this year and additional evidence of an impending earnings recession in the wake of the most recent Walmart and Home Depot earnings reports.
ADA bearish will now be watching for a test of the 50DMA in the $0.36 range, which also roughly corresponds with the upward trend of this year.
Cardano has a decent chance of rising back towards recent highs if it can find support here. If not, it’s likely that a recent double bottom slightly below $0.3450 will be tested.
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