Cryptocurrency Price Prediction: ETH, BTC, Cardano, 14th Dec 2022
The cryptocurrency market is no different. As one of the most important contributors to...
Cryptocurrency Price Prediction: ETH, BTC, Cardano, 16th Dec 2022
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The cryptocurrency market operates similarly. Cryptocurrencies have made it possible for many people to earn sizable sums of money through digital assets, making them one of the most significant contributions to the financial world.
Any form of digital or virtual currency that uses cryptography to secure transactions is referred to as cryptocurrency, also known as crypto-currency or crypto.
Cryptocurrency uses a decentralised system rather than a central issuing or regulating authority to track transactions and create new units.
Ethereum Price Prediction
Although most analysts maintained a more hawkish undertone, the Fed and its FOMC rate decision largely fell in line with what markets were anticipating, causing the price of Ethereum (ETH) to decline Thursday morning.
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After the unfavorable surprise of the US CPI, this has scared or at least sparked some doubt among traders taking their profits.
The four central banks making announcements today will cause significant market volatility before the year’s end, when things will become calmer.
Bitcoin Price Prediction
On Tuesday, the prices of bitcoin and other cryptocurrencies rose once again, with BTC and Ethereum reaching their highest levels since the collapse of the FTX exchange.
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Santiment experts observed euphoria in the cryptocurrency market as outflows of Bitcoin and stablecoins grew and whales snatched up assets off exchanges.
Cardano Price Prediction
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Since the second week of November, the price of Cardano has been oscillating between support at $0.30 and resistance at $0.33. The time of consolidation has lasted longer because the smart contracts token was unable to get around these restrictions.
Positive activity helped ADA cross the lower trend line; however, since then, the upward momentum has slowed, and the stock has not yet established an uptrend over the second trend line. The $0.32 50-day Simple Moving Average reinforces this resistance even more.
Cardano’s price may experience another powerful breakout if the Moving Average Convergence Divergence (MACD) indicator’s future sessions are promising. As the MACD approaches the mean line and moves into the positive range, more buyers are expected to show up, possibly pushing ADA above $0.30.
For the bulls’ power to be confirmed, the price must rise above the 100-day exponential moving average at $0.3399. Whether Cardano can move toward $1.00 will depend on its capacity to overcome resistance at the 200-day exponential moving average.
Santiment’s on-chain statistics show that Cardano is still in a favourable buying range, with the Market Value Realized Value (MVRV) increasing from a 30-day low of -15.59 to -5.70. If the MVRV ratio increases above the mean line at 1.00, some holders might consider selling, but this steady increase pattern suggests investors are growing more confident about ADA’s recovery.
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Despite ongoing uncertainties in the cryptocurrency market and the global economy, addresses holding 10,000 and 100,000 ADA have continued to add tokens. Even though the Federal Open Market Committee (FOMC) may slow down on interest rate increases, inflation is still high.
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