Cardano (ADA) Price Analysis
- The ADA price in the short term could be under bearish influence but in the long term, the price is closer to surpassing the pivotal resistance
- After holding close to the resistance zone between $0.389 and $0.4 for consecutive two weeks, the price is facing some extreme bearish actions at the moment
- The RSI has triggered a bearish divergence, which indicates the price could slide back to the lower support close to $0.36
- Besides, the DMI is bullish, and the ADX has rebounded from the lower support and heading north
- Therefore, the ADA price is expected to rise beyond the $0.44 resistance in the first few days of December after a minor pullback.
Ripple (XRP) Price Analysis
- The XRP price has been following a pattern in the long term as the token is about to drop to the lower pivotal support at the 200-day MA
- The price is trading within a symmetrical triangle and, hence, has both the possibility of a bullish breakout and a notable pullback
- However, the RSI is trading within a rising parallel channel, indicating a bullish trend could be in place
- Therefore, the XRP price is believed to drop to the 200-day MA as the RSI is bearish and could trigger a healthy rebound back to the resistance before the end of 2023.
BinanceCoin (BNB) Price Analysis
- The weekly BNB price is trading within a descending parallel channel in the long term and faced rejection after testing the pivotal resistance at $254.7
- After this move, the BNB price is close to testing the interim lower support at $210 as the RSI is bearish and heading south
- Therefore, the token is believed to drop, trigger a rebound, reach the upper resistance and complete the double-bottom pattern
- Further, the price could trigger a fine rise beyond these levels, head towards the north and reach the upper resistance zone between $325 & $356
Was this writing helpful?
TapTax - Cardano Crypto Taxes Made Simple. Available Now!
Simplify your Crypto Tax experience! From a passive holder, to day trader, to NFT project, we have your taxes covered.BUY NOW!