After massive bloodshed in the streets, the entire crypto space appears to have rebounded with a notable margin
Bitcoin, Ethereum and Cardano march out to revert the losses in the past couple of days by regaining lost positions
A notable uptrend appears imminent that could range the assets towards their immediate resistance levels
Bitcoin Price Could Retest $50,000 Soon
Bitcoin price which was on its way to form a new ATH fell into a pre-programmed dump which cost the asset a drop of 20%. The massive sell-off that took place within minutes could not cement the BTC price below $45,000 for a long time. And hence the price which is currently just above $46,000 could explode straight to $50,000 soon.
Currently, the price is attempting hard to break the consolidation as it’s at the peak of a symmetrical triangle. The breakout towards the immediate resistance at $46,694.85 could ignite an uptrend towards the next levels at $48,153.16. And hence the path towards $50,000 could be clear after smashing $49,677.76. If the price fails to break out and follows a downtrend, then $43,900 could be crucial to hold. Failing to which the price could plunge below $40,000.
Ethereum Price Aims $3800
Ethereum is considered one of the safest investments in the entire crypto space. The recent crash proves the point as the ETH price stood strongly above $3000. And moreover, the attempt to hit the immediate resistance levels certifies the strength. However, a little more consolidation could be on the cards before a breakout.
The asset is currently consolidating within an ascending triangle but little distinct to its peak. And hence the price could hover within the same range for some more time. However, the breakout could initially hit the immediate resistance at $3781. And later the path towards $4000 would be clear.
However, the volume appears pretty less and therefore no strong buying pressure is generated. Yet RSI is following an uptrend and hence a notable surge could be fast approaching. On the contrary, if a correction hinders the rally, the levels at $3400 could be critical to look at. A bounce at these levels could prevent further losses.
Cardano Price Could Rebound To $3 Soon
Cardano is one of the strongest players in the crypto space as it balances itself during extreme sell-offs. As the ADA price plunged below $2.3 many jumped in to accumulate some at the discounted prices. And hence the price comfortably ranged beyond $2.5 in a very short span of time.
The price after the massive dip is slowly yet steadily marching to regain the lost positions. It may take another couple of days to hit the strong resistance zone in between $2.80 and $2.88. As these levels are achieved, the ADA price could revisit $3. But in case of a correction, the price to hold strong at $2.4.
Collectively, the massive rebound indicates the traders might have utilized the opportunity to accumulate the asset at a lower price. Even during the sell-off, the buying pressure was notably high than the selling with most of the assets. Bitcoin, Ethereum & Cardano prices could rise high without many barriers. And hence it can be assumed that the crypto space could continue moving towards the north in the coming days.