Bitcoin(BTC) Price Analysis
Yet another attempt of Bitcoin to breach through the $40K levels appears to have gone in vain but not completely vanished. BTC price is currently swinging within a very narrow range very close to $40,000. The asset is sustaining strong close to $40,000 since the beginning of the present-day trade. And hence a fair chance of surpassing these levels is clearly visible. However, maintaining above these levels may be extremely difficult as the bulls refuse to enter unless the price tests and clear $44,000 resistance levels.
The price is expected to hover along with the $39,000 for an extended period. This may include a couple of successful attempts of breaching through $40K. The volatility appears to have drained a bit and hence a strong breakout may be a little distinct. The current flip has not induced any strength in the rally as the ADX is currently neutral but the volatility is high. And hence the price may undertake multiple deviations regardless of the directions but it may be only for a short period of time.
Ethereum(ETH) Price Analysis
The Ethereum price is currently lowered its resistance to a large extent as the present day’s trade has slashed the price below the local resistance. The ETH price is capped at around $2500 levels and is failing constantly to sustain above $2700. But always flips firmly whenever the asset falls below $2500 levels, hence displaying a possibility of a bullish trend ahead.
The ETH price after a drastic fall has slid down the demand area which is above
$3200 levels. Luckily, the selling volume had not yet outpowered the rally and hence no significant plunge may be expected. However, the buyers also remain off the track which is quite scary at the moment. Therefore, which the absence of buyers, the strength of the rally is pretty weak. On the other hand, the volatility is less so no drastic change in trend may encounter throughout the weekend.
Cardano(ADA) Price Analysis
Cardano price is discovering new lows each and every day without any successful attempts of a rebound. And hence no significant price movement may be witnessed throughout the weekend. Moreover, under the current descending trend, the probabilities of the asset visiting lower lows appear to be pretty high. And eventually slide below the presumed support levels around $0.6 during the upcoming weekend.
The Cardano price is extending the falling wedge for a long time and failing to break through the pattern multiple times. And hence adopted a slow decline towards the lower support, a little below $0.5 levels. As the selling volume has aggravated, no reverse in the trend may be seen, rather the weakened rally may drag the price lower. However, the asset is less volatile and hence a steady rally heading towards the south may be expected during the weekend.