Price Analysis

Bitcoin Feared to Drop to $13K While Cardano to $0.2, What’s Awaiting for Ethereum Price?

Written by: Sahana Vibhute

Written by right arrow

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.

  • author facebook
  • author twitter
  • linkedin

Jul 13, 2022

news-image

Bitcoin (BTC) Price

Bitcoin price after the recent sell-off has yet again feared to lose a notable amount of value as the US CPI rates are about to be released. During the early trading hours, the BTC price traded sideways as fake rates were been circulated within the space. However, with the new rates assumed to be higher than the previous one, the BTC price is predicted to drop to $13,000 in the coming days. 

Th BTC price is holding the lower support for more than 5 years and the fresh price slash has compelled the price to test these levels. Currently, the asset is hovering within a symmetrical triangle in a 4-hr chart and on the verge of breakdown down these levels. Therefore, the analyst believes a drop from here may form new BTC lows at around $13,000 very soon. 

Ethereum (ETH) Price 

Ethereum, on the other hand, has broken the initial trend line support and also broke the extended support line. No doubt the price is attempting very hard to make up above the tend line, but eventually failing to validate a flip. Therefore, in such cases, the ETH price may be prone to drop hard to hit $900, slicing through the crucial support at $1013.

However, the crucial lower support zone lies around $982 and $1000 which may hold the asset firmly but may not sustain it for a longer time. Therefore, June’s bottoms are speculated to be retested soon, which may induce a catapult action beyond $1200 in the coming days.

Cardano (ADA) Price

The Cardano price is validating the bearish set-up that it carried since the previous week. The asset did not show any mercy towards the bulls as it fell heavily from the top of the tower. Therefore, the only way to nullify the bearish impact is to regain the levels beyond $0.5. Until then the lower target could attract the price in the near future. 

adaprice

As ADA price was swinging within a descending triangle, the price was believed to drop significantly. However, now when the asset after a minor correction has ignited a recovery, the CPI rates haunt the rally. Therefore, if the ADA price successfully clears the litmus test, then it may rebound strongly beyond $0.5. Else the drop could drag the price below $0.25 and may even hit $0.2 in the worst cases. 

Show More

Was this writing helpful?

dislikeimage No myImage Yes

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.

Related Articles

Back to top button