Cardano Ecosystem





Bitcoin Holds Above $37,800 While These Cryptos in the Top 10 Trade in Red: What’s Next?

As Bitcoin holds above certain levels, the popular altcoins are trying hard to validate a strong rebound from the bearish trap. Cardano (ADA), XRP and BinanceCoin (BNB) price trades in a negative range as the total market cap slides marginally

Bitcoin Holds Above $37,800 While These Cryptos in the Top 10 Trade in Red: What’s Next?
Bitcoin Supply in Exchanges Spikes: Should You Be Worried About the Upcoming BTC Price Rally?

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

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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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