Cryptocurrency Price Prediction: ETH, BTC, Cardano, 17th 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

Bitcoin (BTC) is at an inflection point after reaching a high of $26,386 on March 14 following the release of CPI data. The peak was followed by consolidation with an overall negative bias, which returned the token to the $24,000 range.

The Bitcoin price was $24,627 at the time of writing, down about 1.5% in the previous 24 hours. If Bitcoin fails to break through the $25,000 barrier, it may lose even more value.

Bitcoin price is currently sitting on near-term support at $23,931, with the horizontal line and the 50-day Exponential Moving Average (EMA) at $22,459 providing additional, more substantial support not far below.

When the Bitcoin price falls below $22,459, selling pressure will likely increase. A rise in profit-taking below this level could push BTC below the 200 and 100-day EMAs, which are at $21,855 and $21,502, respectively.

On the plus side, if buying pressure increases, Bitcoin price could break above $25,000, rendering the bearish thesis invalid. Above that, the BTC may reclaim its Tuesday highs before locking in additional profits for investors.

Ethereum Price Prediction

After losing some ground earlier in the week, the Ethereum price (ETH) is also on a gain-shedding exercise.

At the time of writing, ETH is auctioning for $1,652 after losing 0.05% in the previous 24 hours. Unless the largest altcoin breaks above the $1,704 resistance level, the price could fall even further.

Nonetheless, given Ethereum’s similar trend to Bitcoin and the market’s general lack of bullish catalysts, the token is likely to continue falling.

As a result, investors should expect the Ethereum price to fall towards the $1,595 support level before retracing to the supplier congestion zones represented by the 50, 200, and 100-day EMAs at $1,572, $1,548, and $1,519, respectively.

In extreme cases, the Ethereum price could reach the $1,424 support level.

On the plus side, if buying pressure increases, the price of Ethereum could rise 3.05% to confront the immediate barrier at $1,704. A daily candlestick close above this level could render the bearish case invalid.

In extreme cases, Ethereum price could rise even further to test the $1,744 resistance level or reclaim the $1,780 highs set on Tuesday.

Cardano Price Prediction

Cardano’s loss this week means the cryptocurrency has dropped below all of its main moving averages. In addition, it indicates that the cryptocurrency is currently in a downward trend that dates all the way back to June 2022.

Another indication that there wasn’t enough momentum for a meaningful improvement in the short-term price outlook is ADA/inability USD’s to break convincingly above its 200-Day Moving Average last month.

Theoretically, there isn’t much hope for the cryptocurrency in the foreseeable future; a slump beneath $0.30 seems quite probable. That might lead to a slide of another 24% from current levels, returning to late-2022 lows in the $0.24 region.

It won’t, however, be a straight line lower as it has been in recent weeks because the 14-Day Relative Strength Index (RSI) is getting close to oversold territory.

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Cryptocurrency Price Prediction: ETH, BTC, Cardano, 16th March 2023

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