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 decentralized system to track transactions and create new units instead of having a central issuing or regulating authority.

Ethereum Price Prediction

In recent weeks, Ether has formed an ascending triangle, and it appears that a short-term break to the upside is imminent. Since November 22nd, ETH/USD has been moving upwards, but over the past several days, it has been unable to persistently rise beyond $1,300. Price projections have become more bullish as a result, as price formations like this are frequently thought to be precursors to a bullish breakout.

The 50DMA at $1,334, the 100DMA at $1,383, and the 200DMA at $1,457 will be the first targets if ETH/USD does break to the upside. Ether may be able to test the top of a downward trend channel that has been capping the price action since the summer of 2022 if it can get above its 200DMA, which will be a difficult ask given that the level has been a key point of technical resistance in 2022.

Bitcoin Price Prediction

The 24-hour trading volume for Bitcoin is $19 billion, and the price is at $17,002. Just over 1% of the market’s decline today is also experienced by the price of bitcoin.

The BTC/USD pair lost the majority of its gains after falling from the $17,385 level due to the strong US dollar. At $16,900, which is being stretched by an upward trendline that can be seen in the 4-hour timeframe, it is currently obtaining immediate support.

A bullish reversal is conceivable if BTC is able to consolidate over $17,000. A bullish breakout over this level may pave the way for fresh purchasing up to $17,650 or $18,000. On the upside, Bitcoin may encounter resistance at $17,385.

The selling trend may be extended to the $16,500 level on the downside if the $16,840 support level is broken.

Because of the strong correlation between the financial markets and the cryptocurrency market, if stocks suffer significantly, BTC might drop to $10,000. Given that the markets have so far held up well in the wake of the FTX crash, this is unlikely to occur very soon.

Cardano Price Prediction

The cost of ADA increased from 2020 to the beginning of 2021. Cardano’s price increased by as much as 18,000% from its lows in 2020 to its peaks in 2021. In that regard, traders shouldn’t take seriously the possibility that prices could quickly rebound to record highs above $3.0 in 2023.

Cardano’s fundamentals are still robust, and its network is one of the most decentralized and advanced in the cryptocurrency industry. However, the macroeconomic environment must be favorable. That does not automatically imply a robust economy.

The Covid-19 pandemic rocked the world in 2020, forcing governments to implement significant fiscal and monetary stimulus. This stimulation was what drove the price of cryptocurrencies and risky assets more generally. It’s not out of the question that central banks, who have typically been aggressively raising interest rates this year, start reducing again. Many economists foresee a devastating recession in 2023, and inflation in large economies like the US is coming under swift control.

That might pave the way for ADA recovery. Additionally, the long-term downtrend that has been holding down the price of ADA on the logarithmic chart for more than a year must be broken by Cardano for technical analysts to be satisfied.