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Cardano Ecosystem

Coinpedia

11/30/2023

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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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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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