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Reading: Bitcoin Approaches $100K while Cardano and Ethereum Show Promising Trends
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COINTURK NEWS > Technical Analysis > Bitcoin Approaches $100K while Cardano and Ethereum Show Promising Trends
Technical Analysis

Bitcoin Approaches $100K while Cardano and Ethereum Show Promising Trends

In Brief

  • Bitcoin is steadily approaching the $100,000 target.

  • Cardano shows significant gains as whales accumulate.

  • Ethereum and BNB Coin exhibit promising trends for future growth.

Fatih Uçar
Fatih Uçar 6 months ago
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Cryptocurrency markets are not experiencing an uninterrupted rise; however, Bitcoin (BTC) $103,500 steadily moves towards its $100,000 target. Today, the price peaked at $99,419 before retreating and currently finds support at $97,677. Such movements are not surprising for traders, as short-term corrections are normal on the journey to an all-time high (ATH). What are the latest predictions for ETH, ADA, and BNB Coin?

Contents
Cardano (ADA)ETH and BNB Coin

Cardano (ADA)

Among the largest altcoins by market capitalization, Cardano $0.789 (ADA Coin) has emerged as one of the best performers. With a price nearing $0.90, it experienced over a 15% increase today. According to Ali Charts, ADA has surged nearly 200% in the last three weeks.

“ADA has increased significantly! However, this is just the beginning.

Whales and institutional players are positioning themselves for what is coming. The volume of large ADA transactions on the network has surpassed $22 billion daily.

These substantial trades are associated with elevated accumulation levels. Indeed, whales holding between $1 million and over $10 million in ADA Coin have expanded their positions by more than 100% last month.

High buying pressure is starting to drive prices, and technically, Cardano appears to reflect its previous upward cycle. If this formation continues, ADA could target $6!”

According to the analyst, for the bullish scenario to materialize, the $0.80 level must be maintained, where approximately 1.2 billion ADA Coin were bought by 48,000 addresses. This cost region was previously shared as a key level.

ETH and BNB Coin

While fluctuations in BTC prices hinder Ethereum $2,366’s rise, a reversal in the ETH/BTC pair is likely. An analyst known as TraderSZ noted that all altcoins have weakened against BTC; however, ETH might soon start gaining against the dollar. Pointing to $3,500, the analyst expects a strong move towards $4,000 following a break in the downward trend.

The same analyst shared insights on BNB Coin:

“The BNB/BTC pair is approaching support. BNB remains one of my favorite long-term assets. I believe after BTC cools down and ranges change, altcoin/BTC pairs will rise, and we will see significant gains in altcoin/USD pairs.”

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 22 November, 2024 - 6:42 pm 22 November, 2024 - 6:42 pm
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