Cryptocurrency Price Prediction: ETH, BTC, Cardano, 11th March 2023

The appeal of cryptocurrencies persisted in 2021. Cryptocurrencies are now accepted by Goldman Sachs.

In April 2021, Coinbase became the first significant cryptocurrency company to go public. The first U.S. exchange-traded fund with a focus on Bitcoin debuted in October of the same year.

The most well-known cryptocurrency, Bitcoin, had a prosperous year. The value of the digital currency has grown by about 70% since the start of 2021, pushing the total market value of cryptocurrencies past $2 trillion.

The majority of the major coins’ values have significantly increased this year, which has been great for the cryptocurrency market. Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP) are three other digital currencies doing well.

If the history of cryptocurrencies is any indication of the future, investors can look forward to an amazing journey.

The important Crypto predictions for 2023 are as follows:

Bitcoin Price Prediction

The current Bitcoin price is $19,969, with a $36 billion 24-hour trading volume. Bitcoin has dropped 8.16% in the last 24 hours. With a live market cap of $385 billion, it ranks first on CoinMarketCap.

Bitcoin is currently trading below $21,000, with resistance at $20,400 and major resistance near $22,000. A close above $22,600 could start a bullish trend towards $23,000.

Failure to clear $21,000 could result in a drop to $19,800 or even $18,400.

Ethereum Price Prediction

The price of Ethereum (ETH), like Bitcoin, is bearish and struggling to hold above a key level. Overhead pressure from the 50-day EMA at $1,567 stomped its value on Wednesday, turning the 200-day EMA at $1,546 from support to resistance in the Thursday trading session.

As buyer momentum weakens, ETH may fall below the $1,509 support confluence due to the horizontal level and the 100-day EMA.

In the worst-case scenario, the Ethereum price could fall to $1,212 before reversing or returning to the $990 support floor.

In contrast, because the RSI had just risen, more buyers were rushing to the scene, and the price could rise. In this case, Ethereum would have to overcome overhead pressure and break through the 200-day EMA at $1,546 before confronting the 50-day EMA at $1,567.

A daily candlestick close above the aforementioned EMA will render the bearish narrative null and void.

In extreme cases, the Ethereum price could rise to the $1,727 resistance level before accelerating towards the major resistance at $1,853. This would represent a 20.55% increase over the current $1,539 price.

Cardano Price Prediction

According to DeFi Llama data, the ADA-denominated value of cryptocurrency locked within the Cardano blockchain has reached an all-time high of 341 million ADA, indicating the platform’s growing adoption.

Cardano’s smart-contract-enabled high-performance blockchain, which is seen as a competitor to the Ethereum blockchain, is powered by ADA.

The launch of the Djed over-collateralized algorithmic stablecoin earlier this year boosted the ecosystem, opening up new yield farming opportunities in the Cardano DeFi ecosystem.

According to the project’s website, Djed’s circulating supply is already around 2.1 million, and the protocol has a reserve ratio of 471%.

With this week’s drop, Cardano has dropped below all of its major moving averages. Furthermore, the cryptocurrency appears to be in a downtrend that dates back to June 2022.

The failure of ADA/USD to decisively break above its 200-Day Moving Average last month is yet another indication that there was insufficient momentum for a significant positive shift in the near-term price outlook.

Technically, the cryptocurrency’s outlook isn’t promising in the near term, with a drop below $0.30 looking highly likely. This would pave the way for a drop back to late-2022 lows in the $0.24 range, a 24% drop from current levels.

However, given that the 14-Day Relative Strength Index (RSI) is approaching oversold territory, a straight line lower is unlikely, as it has been in recent weeks.

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Cryptocurrency Price Prediction: ETH, BTC, Cardano, 10th March 2023

The appeal of cryptocurrencies persisted in 2021. Cryptocurrencies are now accepted by Goldman Sachs....