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The post Ethereum Price And Cardano Price Accelerate Their Pace Towards Their Targets! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Amid the bullish sentiment prevailing within the crypto space, much of the crypto assets gained an immense uptrend. However, despite the extreme positive price movements, yet the Bitcoin price, Ethereum price and Cardano price are struggling to reach their initial targets. BTC price remained below $40K, ETH price below $2500 and ADA price below $1.5. 

After a significant rally both the assets encountered a consolidation phase that plateaued the price to some extent. However, the Ethereum price remained above the 2017 highs during the dips and Cardano price above $1. Therefore, the current minute correction could be probably a short-lived one that may be eased soon. 

$2900 Could Be A Reasonable Target For Ethereum Price

After a heavy sell-off during mid-may, ETH price collapsed miserably from its highs to as low as $1728. And since then the price has kept following a bearish trend forming consecutive lower lows. Also, the various attempts to form higher highs and higher lows were rejected. Yet the price was maintained above strong support levels. 

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The next strong resistance level around $2876 is still much distant than the current range and hence a substantial jump of nearly 20% is mandatory to confirm with the bull run. The RSI also has registered a reversal and broke the downtrend with a large margin. 

Also Read: Ethereum Price to Break Past the $2400 Mark Soon, How High Will $ETH Price Go?

Cardano Price Eyes a 10% Upswing

Cardano price currently is swinging in between the 50-day and 200-day MA, the latter being the support level. Despite a huge recovery of nearly 10%, the price still failed to test the immediate resistance level at around $1.499. These levels if frozen could initiate the bulls to carry the price close to $2 and also begin with a fresh rally to encounter $5.

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The price despite multiple dips stood strongly above $1 and attempts to form higher highs continued subsequently. The levels are close to $1.5 appear quite strong as the price faced multiple rejections and yet remained self-assured. 

The catalyst, which could uplift the price to their required levels could be a positive update with the upcoming developments in their respective ecosystems. The Ethereum price could undergo a huge rally with the successful launch of London Hard Fork. Whereas a decent jump of Cardano price may be registered with the release of the Smart-Contracts.

Also Read: Cardano Price Bounce-Off $1 Headed to $1.50? Morningstar Strategist Says ADA Could Go Mainstream!

One thought on “Ethereum Price And Cardano Price Accelerate Their Pace Towards Their Targets!

  1. I’m sure this topic has been brought up before on this sub, but I would like to know you guys’ opinions on trustworthy sources of crypto analysis and news/general info to keep track of general economic activity as well as those that apply to crypto specifically (especially now during this bear market). I myself listen to CoinBureau almost exclusively (I mean they are a good source of info but its always good to listen to different sources) and I’d like to check out other channels. I don’t use Twitter for the most part either (for reasons you can probably guess).

    What are your recommendations? My style of investing is DCA and HODL (which from what I can tell is also the investing philosophy in this sub) however if anyone has any insight into notable figures for other styles of investing and/or trading, you’re more than welcome to share with us your perspective.

    I’m excited to hear what you guys have to say, and many thanks to everyone commenting!

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  • bitcoinBitcoin (BTC) $ 20,203.00
  • ethereumEthereum (ETH) $ 1,353.43
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 293.46
  • usd-coinUSD Coin (USDC) $ 0.999370
  • xrpXRP (XRP) $ 0.493538
  • binance-usdBinance USD (BUSD) $ 0.998874
  • cardanoCardano (ADA) $ 0.431277
  • solanaSolana (SOL) $ 33.94
  • dogecoinDogecoin (DOGE) $ 0.064749