Bitcoin (BTC) Price Analysis
Yet another attempt by Bitcoin to break through the $40K levels appears to have been in vain but it did not go away entirely. The BTC price is currently hovering within a very tight range, very close to $40,000. The asset is holding strong near $40,000 since the start of current trading. And therefore a good chance of breaking these levels is clearly visible. However, staying above these levels can be extremely difficult as the bulls refuse to enter unless the price tests and clears the $44,000 resistance levels.
The price is expected to fluctuate along with $39,000 for an extended period. This may include a couple of successful attempts to break the $40K mark. The volatility seems to have drained off a bit and therefore a strong breakout may look a bit different. The current turn has not induced any strength in the rally as ADX is currently neutral but volatility is high. And therefore, the price can undertake multiple deviations regardless of the directions, but it can only be for a short period of time.
Ethereum (ETH) Price Analysis
Ethereum price has currently lowered its resistance to a great extent as the current trade has pushed the price below the local resistance. ETH price is capped around $2,500 and fails to consistently stay above $2,700. But it always swings steadily whenever the asset dips below $2,500 levels, so it shows the possibility of a uptrend ahead.
The ETH price after a drastic drop has slipped through the demand area that is above
$3,200 tiers. Fortunately, the sales volume has not yet surpassed the uptick and therefore a significant drop cannot be expected. However, buyers are also staying off the trail, which is pretty scary at the moment. Therefore, due to the absence of buyers, the strength of the rally is quite weak. On the other hand, the volatility is lower, so drastic changes in the trend cannot be found during the weekend.
Cardano (ADA) Price Analysis
Cardano price is discovering new lows every day without any successful bounce attempts. And therefore, no significant price movement can be witnessed throughout the weekend. Also, under the current downtrend, the odds of the asset hitting lower lows seem quite high. And it will eventually slide below assumed support levels around $0.6 over the coming weekend.
Cardano price is extending the falling wedge for a long time and fails to break out of the pattern several times. And thus it took a slow decline towards lower support a bit below the $0.5 levels. As the selling volume has worsened, a trend reversal cannot be seen, rather the weakened rally may drag the price lower. However, the asset is less volatile and therefore a steady rally south over the weekend can be expected.
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This post How will the prices of Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA) swing during the weekends?
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