Cryptocurrency Price Prediction: ETH, BTC, Cardano, 16th March 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

Bitcoin (BTC) is at a crossroads after converting key resistance levels to support, but the bullish momentum is fading.

The flagship cryptocurrency was on track to break out of a months-long consolidation zone after finding a pivot and scaling a northward attack.

As expected, the price of Ethereum (ETH) has conformed to the price action of the king cryptocurrency and is also conflicted as buying pressure continues to ease.

Nonetheless, the Ripple price (XRP) remains stuck in a downward trend and has already lost a significant amount of value in the last 24 hours.

After a brief retest around mid-February, Bitcoin is eyeing the coveted $25K level. At the time of writing, the people’s cryptocurrency has increased by 8.8% in the last 24 hours to auction for $24,297.

The token bounced from the $20,000 support level, marking an unprecedented turnaround that surprised some bears, but bullish momentum appears to be fading.

Sidelined investors who sold their Bitcoin holdings at lower rates last week due to concerns about high-profile crypto-related US bank failures, such as Silvergate and Silicon Valley Bank (SVB) Financial, have missed out on the latest Bitcoin price rally.

These bank closures sparked investor concerns about weakening fiat-to-crypto on-ramps and the collateralization of Circle’s USDC stablecoin, which had some reserves parked at these institutions.

While BTC was sitting on immediate support at $22,614, the largest cryptocurrency by market cap was facing a major resistance level at $25,000.

If traders decide to take profits at current levels, the uptrend will be broken, and the price of Bitcoin will begin to fall. This would tighten BTC’s grip on the horizontal consolidation zone.

Bitcoin’s price could fall below the 50-, 200-, and 100-day Exponential Moving Averages (EMAs), which are currently at $22,270, $21,798, and $21,373, respectively.

In extreme cases, the price may fall below the major support level of $19,000. This would represent a 22.08% decrease from current levels.

On the plus side, a decisive flip of the $25,000 resistance level into support could pave the way for Bitcoin to make further gains. BTC buyers must increase their market presence in order for investors to boast about the $25K level.

Turning the major roadblock into a support level could give Bitcoin the boost it needs to reclaim its former glory, potentially retagging the $28,646 level last seen in May.

With a price strength of 61, the Relative Strength Index (RSI) was within the safe zone. This suggests that the price of Bitcoin may rise in the short term before the token is considered overbought.

Nonetheless, given the general bearish sentiment in the crypto market, anything above $25K seemed far-fetched and premature, based on current market conditions.

Ethereum Price Prediction

The Ethereum price has also experienced a bullish breakout, propelling the token by approximately 17% since March 11.

The rally comes as the US government intervened to protect Signature and SVB depositors from any losses and announced a new $25 billion liquidity programme to help prevent further bank runs.

Another reason for the Ethereum price rally as it relates to Bitcoin is that markets are aggressively withdrawing Federal Reserve (Fed) tightening bets because the Fed cannot continue to raise rates while the US banking system is on the verge of collapse.

This is especially true given that the Fed’s aggressive rate hike campaign appears to be the primary cause of the financial sector’s vulnerabilities.

The Ethereum price is $1,673 at the time of writing, with all indications pointing to a capped rally at around $1,704.

If profit-takers act now, ETH could fall below the support levels offered by the 50- and 200-day EMAs, which are at $1,564 and $1,546, respectively, or, in extreme cases, the support confluence between the 100-day EMA and the horizontal line, which is at $1,513.

Below the aforementioned levels, the Ethereum price may fall to the $1,424 support level or lose more ground towards the $1,276 support level, which sparked the January 8 rally. However, in extreme cases, ETH could fall to the $990 swing low.

A clear break above the $1,704 resistance level, on the other hand, could solidify Ethereum’s uptrend in the short term and invalidate the bearish thesis.

An increase in buying momentum above this level could set the stage for ETH to face the next obstacle at $1,744 or, in more ambitious scenarios, reclaim its position above $18,000 by tagging the $1,864 resistance level.

Cardano Price Prediction

Due to its unique features and growing adoption, many cryptocurrency experts believe Cardano (ADA) has significant growth potential in the coming years. Here are some Cardano (ADA) price forecasts for 2023:

Cardano (ADA) is expected to grow positively in 2023, according to various forecasts. According to WalletInvestor, it will rise 33.33% from its current price of $0.30 to $0.40 by the end of 2023.

TradingBeasts anticipates a 27.43% increase to $0.49, while DigitalCoinPrice anticipates a 30% increase to $0.39. These optimistic forecasts indicate that investing in Cardano (ADA) could provide investors with excellent returns in 2023.

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Cryptocurrency Price Prediction: ETH, BTC, Cardano, 13th March 2023

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