Cryptocurrency Price Prediction: ETH, BTC, Cardano, 2nd Feb 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

Today’s Bitcoin price is $22,993.90, with a 24-hour trading volume of $22 billion. It has risen by 0.25% in the last 24 hours, putting it first on the CoinMarketCap rankings with a market capitalization of $443 billion.

Bitcoin is trading with no clear bias on the 4-hour timeframe as the market awaits the Federal Open Market Committee and Federal Reserve rate decisions. Nonetheless, the BTC/USD pair’s immediate resistance remains at $23,300, and a breakout above this level has the potential to take the BTC/USD pair to the next resistance area of $23,920.

Leading technical indicators like the RSI and MACD are in a sell zone, and the 50-day simple moving average is also indicating a selling trend.

On the downside, Bitcoin is likely to be supported by an upward trendline at $22,750, and a bearish breakout of this level could open up more room for selling until $22,350.

Ethereum Price Prediction

Today’s price of Ethereum is $1,572.48 with a trading volume of $6.2 billion in the last 24 hours. Its value has dropped by 0.03% since then, and it now ranks second on CoinMarketCap with a market cap of $192 billion.

According to technical analysis, Ethereum could experience a bullish reversal once it reaches the $1,540 double-bottom support level. The challenges remain on the upside, with high resistance near $1,600. If it can overcome this barrier, ETH could reach around $1,625 per coin.

If support at the $1,540 level fails, the price could fall further until it reaches the $1,500 level.

Cardano Price Prediction

To consider a bearish scenario, the bears must produce a closing candlestick below $0.360. If successful, the Cardano price could fall to 29 cents, the 61.8% retracement level of the January trading range. The scenario implies that Cardano’s current market value could fall by 22%.

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Cryptocurrency Price Prediction: ETH, BTC, Cardano, 1st Feb 2023

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

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