The crypto space appears to have turned on the recovery mode as the major cryptocurrencies have rebound well. The Bitcoin price is testing the crucial zones, whereas the Ethereum price is about to undergo an explosion. Yet the Cardano price is not behind in the race as it appears that it is done with the accumulation.
Bitcoin Price Broke The Channel
The much-awaited breakout appear just a few minutes before as the BTC price broke above the parallel channel. Moreover, a ‘Golden Cross’ is just confirmed as the 200-day MA crosses the 50-day MA. And hence this event could provide the much-required boosts to regain the lost levels above $50K.
Currently, the BTC price is testing one of the crucial resistance levels, and a breakout is mandatory in order to head towards $50,000. However, whenever, the asset surpasses some important levels, an intense selling outspreads around. And hence, one can expect a notable selling pressure in between $48,000 and $50,000.
On the other hand, the BTC dominance is also in a recovery mode and in such cases, the altcoins may bleed hard. Therefore, until the primitive crypto validates its bull run, it would be better to be away from risky business.
Ethereum Price Looking For An Opportunity
The world’s second crypto is on the verge to break the pattern and head towards the next resistance above $3500. The ETH price is currently, at the neckline of the ‘W-shaped’ pattern in the hourly chart. And hence a notable jump is quite possible in the next couple of hours.
The immediate resistance levels reside around $3556 and a subsequent bounce could lead the price above these levels. However, the price can also consolidate for some more time at the neckline and eventually pull the next leg up. The most important thing to keep up the bull rally is to sustain above $3500. So that $4400 does not remain much distinct from the current levels.
Cardano Price Breaches $2.5, Mark!
Cardano price, after the launch of smart contracts, was trending in a very narrow region, accumulating strength to break the consolidation. Multiple huge green candles paved their way to uplift the price which was struggling hard to break $2.5. If in case, the bullish momentum prevails, the next stop for the ADA price coils probably is close to $2.8.
At the press time, Cardano price is the world’s top 3 cryptocurrency which has gained more than 5%. The next task for the rally would be to clinch the immediate resistance zone in between $2.6 to $2.622. Hence a successful breakout through these zones could validate a bullish trend to eventually propel above $3.
Collectively, the crypto space has turned pretty greener as most of the cryptos seem to have flipped the bears. However, during the bull rally, the probabilities of a slight pull-back due to sell-offs may not be neglected. Therefore, the upcoming couple of days could be pretty important for Bitcoin price, Ethereum price & Cardano price. As the rally would maintain its uptrend if their respective resistance levels are smashed else the consolidation would continue further.