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

Bitcoin’s current price is $23,365, and the 24-hour trading volume is $15 billion. It has risen by 0.10% in the last 24 hours. It is ranked first on CoinMarketCap, with a live market cap of $450 billion.

The current supply of Bitcoin is 19,281,825 coins, with a maximum supply of 21 million coins.

Bitcoin has recently been trending downward, with $23300 acting as its immediate support level. If it breaches this level, the price could fall further, eventually settling at $23000, which is marked by a rising trendline and could be viewed as a potential point of support.

The RSI and MACD indicators have indicated that selling pressure may increase, resulting in the BTC price falling to $22,750 as its next support level.

The 50-day exponential moving average for BTC/USD is currently indicating positive momentum above $23,300. This suggests that a rebound is possible. If the price breaks through the $23,950 barrier, it could rise to around $24,500.

Ethereum Price Prediction

The current price of Ethereum is $1,664, and the 24-hour trading volume is $5.9 billion. Its value has also increased by 0.50% in the last 24 hours. With a market cap of approximately $203 billion, Ethereum is ranked second on CoinMarketCap.

The ETH/USD pair has made little progress in recent days and is currently trading within a narrow range of $1,650 to $1,685. If the price breaks out of this range, it has the potential to reach $1,720.

The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) indicators have begun to point in opposite directions, indicating a possible trend change. One indicator suggests that investors should buy, while the other suggests that they should sell.

With values above $1,620, the 50-day Exponential Moving Average indicates a possible bullish trend, indicating an increase in coin prices.

Cardano Price Prediction

Cardano is currently auctioning for $0.403. The 1-2-1-2 ramping pattern within the current uptrend rally is one of the key indicators signalling a potential move higher. This pattern appears when the price repeatedly makes higher lows and higher highs.

The stair-stepping price action indicates the open interest in an asset among algorithmic bots, day traders, and smart-money operatives. Price movements can become more intense and volatile as the pattern progresses, creating an environment conducive to a large move.

Divergences on the Relative Strength Index are another factor to consider (RSI). The RSI is a momentum indicator that compares the depth of recent gains to recent losses to determine whether an asset is overbought or oversold.

Cardano is currently showing bullish divergences within the 1-2-1-2 pattern after breaking through overbought conditions. This could be interpreted as a signal to slow down before Cardano’s next leg up.

Cardano could see further gains in the near future based on the current ramping 1-2-1-2 pattern. Since September 2022, the $0.45 zone has represented a convergence of resistance, support, and untagged liquidity levels.

A break below the $0.36 support level could invalidate the bearish thesis. If the breach occurs, the Cardano price could fall toward the $0.30 level of support, representing a 23% increase over the current market value of ADA.

Also Read

Cryptocurrency Price Prediction: ETH, BTC, Cardano, 5th Feb 2023

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

Advertisement