Bitcoin(BTC)
Bitcoin price is slowly yet steadily ranging high towards the immediate resistance close to $40,000. Despite the low trading volume, the asset is ranging towards the north which is ofcourse a bearish signal, but the buyers are expected to jump in very soon to prevent the selling pressure to mount.
However, slashing the possibilities of plunging down, BTC price may establish a notable uptrend soon.
Technical Analysis(Short-Term)
- As mentioned the BTC price is extremely bullish currently as the RSI is showcasing a growing momentum in the rally as it is residing within the middle levels, yet heading towards the north
- The MACD also points out towards a buy signal as the selling pressure has eased out and the buying has just begun
- Average True Range, volatility indicator points towards decreased volatility rate yet the Bull-Bear power manifests the growing strength of the bulls.
Ethereum(ETH)
The Ethereum price is strongly testing the upper resistance levels of the parallel channel. IF in case the volume remains in favor, the ETH price may eventually break through the consolidation and test the upper resistance above $2700.
The strong support remains pretty much distinct and hence at the press time, no barriers are witnessed for the Ethereum price rally.
Technical Analysis(Short-Term)
- The RSI is strongly heading towards the north residing over 67 levels, heading towards the overbought levels. And hence a significant uptrend may be expected throughout the weekend
- No notable selling volume is been mounted and the MACD is crossing the Signal line and trying hard to move towards the north, establishing a bullish trend
- Price volatility is pretty high, and as the bulls have the complete power, the price could be compelled to range higher.
Cardano(ADA)
While the market sentiments are turning bullish, Cardano price is also slowly flipping the bearish trend and adopting a bullish trend. However, as with Bitcoin or Ethereum, sustaining a notable uptrend may not be tough for the asset but if in case the market plummets, it may decline the price heavily keeping the $1 levels at stake.
Technical Indicators(Short-Term)
- Unlike Bitcoin and Ethereum, the RSI is neutral as may head according to the accumulated volume on the platform
- Yet the MACD is also slightly bullish hoping to let out a buy signal soon, yet both the MACD & Signal line are going hand in hand and hence its a little premature to judge the next leg
- The volatility remains high as the bulls retain their supremacy. Therefore a notable upswing may be expected shortly.
