The market for cryptocurrency is run by similar regulations. One of the main benefits of cryptocurrencies is the possibility for many people to earn substantial sums of money through digital assets.

Any digital or virtual currency that uses encryption to secure transactions is referred to as cryptocurrency, sometimes known as crypto-currency or crypto.

In contrast to a single issuing or governing entity, cryptocurrencies use a decentralised architecture to track transactions and create new units.

Ethereum Price Prediction

The pessimistic prognosis for Ethereum may cause further price declines. Despite last week’s strong price movements, it has dropped below the $1,200 mark. There is a chance that it will drop below the triangle pattern’s level of support.

Ethereum has seen a 23% spike in trade volume over the last day, reaching $4.5 billion. The market capitalization of the cryptocurrency is $146 billion, down 2% during the same time period.

Ethereum has had a challenging year, with its value falling by 75.5% from its all-time high and 70.4% in only one year.

However, Guy of Coin Bureau, a well-known cryptocurrency expert, predicts that the biggest smart contracts token could have an amazing year in 2019.

Ethereum’s price has fallen below $1,200 and has been rejected by the 50-day Exponential Moving Average (EMA), which is currently at $1,257. This indicates that Ethereum is currently in a bearish trend. The triangle formation on the daily chart suggests that $1,177 will serve as support.

The same-timeframe Stochastic oscillator confirms the price of Ethereum’s strong negative hold. As this technical index returns to the oversold area, which is below 20.00, southbound momentum will probably pick up speed.

The grey band on the daily timescale shows that if the price of Ethereum drops below the triangular pattern, it is anticipated to drop to roughly $990. This supports the cryptocurrency’s current bearish trend.

To break free from the obstinate bearish chains, Ethereum’s price has to retake support at the 50-day EMA on the upside. But in order to reverse the trend higher for a bullish long-haul journey in 2023, bulls must push the price past the 100-day EMA (shown in blue at $1,329), the upper triangular trend line (shown as a continuous line), and the 200-day EMA (shown in purple at $1,588).

The price of Ethereum must pass through several points of resistance, including the 50-day EMA at $1,257, the 100-day EMA at $1,329, and the 200-day EMA at $1,588 in order to see a bullish trend. If these levels are successfully crossed in 2023, it might indicate the start of a long-term bullish trend for Ethereum.

Bitcoin Price Prediction

At its current price of $16,813, bitcoin is used in daily transactions totaling $10 billion. Today’s BTC/USD price is largely steady and continues to range between $16,700 and $17,000.

After failing to break out over $17,000, BTC has retraced and is again consolidating close to $16,800. If the bulls want a second chance at higher prices, the price needs to remain above $16,587.

A breach of the $16,600 support level by the bears might expose BTC to $15,650 and allow for further selling to $16,250 or $16,100. The market currently has a mixed bias, according to the RSI and MACD indicators.

The RSI indicates that the market has been oversold, but the MACD shows that there may still be some upward momentum. Given these contradictory data, predicting the market’s direction may be challenging.

Cardano Price Prediction

Cardano’s price is predicted to drop 91.6% from its all-time high of $30.9 on September 2, 2021, and will end the year in a seemingly endless rabbit hole. Investors were further disappointed when ADA lost 82.6% of its value in just one year.

The majority of the year has had the Market Value Realized Value (MVRV) profit or loss model below its mean line at 1. According to Santiment, an asset would be undervalued when the MVRV deviates from the mean line. Investors are more likely to keep their tokens for longer under these conditions. Before a rally, some shoppers would even make more purchases.

Therefore, an MVRV ratio of -15.09, which shows that a rebound catalyst is still required, points to a purchase zone for ADA. On the other hand, investors often sell to book profits when the MVRV flips past the mean line.

Some investors, more notably whales, who are now on a buying binge, answered the call. According to on-chain data from Santiment, addresses holding 1M to 10M ADA now hold 16.19% of the network’s total supply, up from 15.98% on December 14.

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Cryptocurrency Price Prediction: ETH, BTC, Cardano, 29th Dec 2022

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