Price Analysis

Bitcoin, Ethereum, Cardano Price Analysis For The Weekend, Thunderbolt Action May Be In Place!

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Highlights

    Bitcoin Price is currently consolidating heavily above $53,000 resistance levels and is expected to go high to test the $55,000 zone very soon

    Ethereum Price moving perfectly along the trend line and approaching the crucial resistance zone

    Cardano price since the recent sell-off is consolidating in a very narrow margin and hence the next leg up may be spontaneous

Bitcoin Price Could Form A Double Top 

Bitcoin price broke the crucial resistance zone a couple of days before and headed towards the next levels close to $55,000. Woefully, the price did trade above these levels but very soon dumped below the region. However, the BTC price could retest the upper zone very soon as the buyers are entering the trade.

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Source: Tradingview

The price after the recent correction and rebound from the local support levels at $53,721, a double top pattern could be formed. And if the pattern becomes realistic, then sustaining above the major support levels could become extremely important. A breakdown from these levels can result in a substantial downtrend, or else a breakout could intensify the rally at double speed. 

Ethereum Price May Go Beyond $3800 Soon

Ethereum price is currently heading towards the same resistance levels at $3667, after being rejected multiple times. The important part of the rally is to successfully surpass these levels and prevent a retest. And hence the probability of a substantial jump towards the target for the ETH price could be high.

ethchart

There are collectively two possibilities for the upcoming price trend. Either the price breaks the upper resistance and marches high. Else it follows the ‘cup n handle’ pattern and experiences a notable dump before the next leg up. However, the price is programmed to range high towards the $4000 mark either now or after a small correction.

Cardano Price Awaits For An Elevated Voltality

Cardano price in recent times has failed to attract the trader’s focus at the activity and the traffic appears to have dropped considerably. The normal trading has however sustained the price above $2 that could be an indication of a healthy consolidation. The daily candles appear somewhat like a Doji candlestick, yet the next candle fails to pull a leg up in order to confirm the bullish reversal.

adachart

The ADA price is trending within a very small margin since the beginning of Q4 and awaits a major push. Also, the depleting volume which signifies the shift of focus of the traders is a little worrisome. Yet with the resumption of the bull run, the price could restart its previous uptrend and smash $2.5 initially and range towards its ATH above $3.

Collectively, the upcoming week could be more greener as the weekend could witness an explosion with the major crypto assets. Bitcoin(BTC) price, Ethereum (ETH) price and Cardano (ADA) price may break their barriers to propel high. However, the weekend always records amazing price movements, and therefore bullish market sentiments could fuel the uptrend. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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