There are all kinds of digital assets predictions these days amidst the market correction. Check out the latest ones.
Crypto analyst Justin Bennett recently said that the direction of Cardano (ADA) and Ethereum’s (ETH) price will likely depend on whether Bitcoin (BTC) exhibits bullish or bearish behavior.
In a new issue of the Cryptocademy newsletter, Bennett says that Ethereum’s support at the $4,200 level is currently holding well.
It seems that ETH could appreciate further depending on Bitcoin’s next moves, according to Bennett.
“[Bouncing off the $4,200 level] could open the door to higher levels like $4,600. Just keep in mind that it depends on what BTC does if it reaches the $53,000 resistance area.”
At the moment of writing this article, ETH is trading in the red and the coin is priced at $4,070.
The other day, it’s been revealed that the pair BTC/ETH is the highest now since February 2018.
We were also revealing that Bitcoin whales are playing the market games flawlessly. They bought the Bitcoin dip during the market crash and the latest reports will probably shock you.
🐳 #Bitcoin has recovered back to $50.1k Monday, and whale traders played the dip to perfection. Beginning during the dump to $43.5k, addresses holding 100 to 10k $BTC have accumulated 67k more $BTC after dumping the same amount before the price drop. https://t.co/TcTSKBy2v7 pic.twitter.com/JxZL7nGVwR
— Santiment (@santimentfeed) December 6, 2021
Cardano price prediction
Check out what the analyst has to say about Cardano:
“Cardano has reached an interesting place on the chart. There’s a confluence of support near $1.35 that’s currently holding on a daily closing basis. We’ll see if that continues. As we all know, it’ll likely depend on whether or not Bitcoin can get back above $53,000.”
He continued and said:
“A close above $1.50 would signal strength and expose $1.70 while a close below the $1.35 area would suggest further downside.”
At the moment of writing this article, ADA is trading in the red and the coin is priced at $1.29.
