Price Analysis

Top Predictions for Bitcoin(BTC), Ethereum(ETH) & Cardano(ADA) Price for the Day

Author: Sahana Vibhute

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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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Bitcoin (BTC) Price Analysis

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  • The Bitcoin price, despite the recent sell-off, sustains well along the lower support of the parallel channel
  • The extended consolidation along the support does point out toward the upcoming breakdown, yet minor possibilities of a flip may be expected
  • The RSI is slowly ranging towards the north and the MACD displays a significant amount of buying volume being mounted
  • Therefore, the BTC price is expected to continue trading along the lower support and in the coming days may rebound finely towards the upper bands.

Ethereum (ETH) Price Analysis

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  • Ethereum, as seen in the chart is swinging above the trend line, testing the lower support a couple of times
  • In the short term, the asset has formed a double bottom pattern as the price hovers along the neckline
  • Therfore, the price appears to be poised for a notable breakout but only if the asset surpasses the resistance zone between $1628 & $1648
  • By the end of the day’s trade, the ETH price could uplift and maintain a significant trend within the above-mentioned resistance zone

Cardano(ADA) Price Analysis

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  • The Cardano price recently broke down from the rising wedge and further formed a bearish flag
  • However, the asset is consolidating heavily within the flag and may pull a significant leg down to hit the support at $0.4
  • The revival of the bulls appears to be a little distinct and hence the asset may follow a descending consolidation for an extended period
  • Currently, by the end of the day’s trade, the ADA price is expected to plunge slightly below $0.45, aiming to test the lower support in the coming days

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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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