Cryptocurrency Price Prediction: ETH, BTC, Cardano, 6th Dec 2022

The cryptocurrency market is no different. As one of the most important contributors to the financial world, cryptocurrencies have enabled many people to earn significant amounts of money through digital assets.

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.

Cryptocurrencies rely on a decentralised system to track transactions and create new units instead of having a central issuing or regulating authority.

Ethereum Price Prediction

In the last seven days, the price of Ethereum (or ETH), the token that powers the Ethereum blockchain network, has risen by more than 10%. Before the start of Monday’s US session, ETH was last changing hands for just under $1,300 per token, up just over 2.5% in the last 24 hours and poised for a breakout to new near-month highs and a test of its 50-Day Moving Average at just under $1,340.

Since forming a double bottom in the $1,080 area in November, ether has recovered about 20% in the last three weeks. With US inflation showing clear signs of having peaked, optimism about the US Federal Reserve slowing the pace of its monetary tightening in the coming months has lifted US stocks, bonds, and many commodities. This trend has been helping crypto in recent weeks.

However, ETH still has a long way to go before recouping its post-FTX collapse losses. Prior to the exchange’s untimely demise around this time last month, ETH/USD was trading around $1,550 to $1,650, roughly 20-25% higher than current levels. C

rypto bulls will be hoping that as the month of December progresses, Ether will recover to these levels thanks to a “Santa rally” – a phenomenon in which risk assets rally in the run-up to Christmas, as has historically occurred.

Bitcoin Price Prediction

However, in the 4-hour time frame, this consolidation formed a double bottom pattern. Earlier today, the BTC price broke through the $17200 neckline resistance, providing further confirmation for a price rally.

Bitcoin is currently trading at $17209, attempting to retest the breached neckline. As a result, with consistent buying, prices could rise 7.5% to $18500.

A 4-hour candle closing below the neckline, on the other hand, will invalidate the bullish thesis.

Cardano Price Prediction

Cardano’s price could reach $0.42 by the end of December, according to NeuralProphet’s PyTorch-based price prediction algorithm, which employs an open-source machine learning framework. The model, on the other hand, predicted that $ADA would trade above $1 in September, when in reality, the cryptocurrency was barely above $0.50.

The price prediction model makes use of 2017 data as well as AI technology to determine where the cryptocurrency’s price is rising. From February 2021 to May 2022, when the Terra ecosystem collapsed and the crypto space entered a bear market, the mode delivered somewhat accurate predictions.

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Cryptocurrency Price Prediction: ETH, BTC, Cardano, 5th Dec 2022

Any form of digital or virtual currency that uses cryptography to secure...