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Cryptocurrencies have seen a return to optimism during the weekend after challenging weekdays. BTC is aiming for $70,000 again, and altcoins have turned green. What about the prices of ADA, BONK, and Shiba Coin, which are drawing intense interest from investors? We are examining the latest predictions for these three cryptocurrencies.
Cardano (ADA) Analysis
At the time of writing, ADA Coin is priced at $0.598. It has turned green but only saw a 1.5% increase in the last 24 hours. Even though it had risen to $0.81, ADA Coin has returned to its end-of-year levels, showing a very weak bullish performance.
The lack of interest in the Cardano network aside, the intensifying competition makes it imperative for the smart contract platform to take its development seriously.
The ADA Coin price, having retreated to the $0.58 support, could recover towards the $0.61 and $0.636 barriers. However, weak demand above $0.78 diminishes hopes for parabolic rallies. Cardano is likely to continue its narrow range movements in the medium term as competitors increase their market share.
BONK Coin Analysis
For those new to cryptocurrencies, BONK Coin is a true earning altcoin. It doesn’t need to serve a purpose; speculative price movements are what matter. The only benefit offered by meme coins is this, and BONK Coin is currently finding buyers at $0.00002359. For now, maintaining the $0.0000196 support is crucial, and if the $0.00002464 barrier is breached, the resistances at $0.0000298 and $0.0000368 could be targeted again.
While most altcoins are retreating to lower support levels, BONK Coin investors are maintaining their excitement and consolidating the price at higher levels. However, if the key support is lost, we could see a sell-off down to $0.0000106.
Shiba Coin Predictions
DOGE and SHIB, like other speculative assets, reacted more quickly to BTC‘s recent turnaround. Shiba Coin has maintained $0.0000264 as support and is now targeting $0.0000308 again. The current trend is promising regarding the potential to move beyond $0.0000328 and reach new highs in 2024.
However, this week, altcoin investors will also be closely watching inflation data. So, no matter how positive the current outlook may seem, the apprehension about the upcoming data and the reaction after it arrives on Wednesday could surprise us all.
