The crypto space has been experiencing extreme bearish pressure since the beginning of the year as the bulls constantly lacked the momentum required to uphold the assets. While Bitcoin‘s price continues to trade around $20,000, the other altcoins are also believed to display a consolidated trend.
However, the BTC price is expected to undergo a short-term bounce during the weekend. Therefore, popular cryptos like Ethereum (ETH), Cardano (ADA) & Ripple (XRP) are assumed to regain their respective lost levels soon.
Ethereum (ETH) Price Analysis
- Ethereum price continues to trade within the lower bands of the FIB channel between 0 & 0.236 at $1225.84 and $1360.99 respectively
- The second largest crypto is trying hard to surpass the 0.236 FIB levels and surge high to reach $0.38 FIB levels at $1441.61
- The ETH price may eventually rise high and reach levels around $1500 wherein it may face a bearish action as the prices have not regained these levels after the major slump that occurred soon after the Ethereum Merger
- Therefore, during the weekend, the ETH price may find a way out to trade beyond $1400 and secure levels above $1450, but may certainly not make it to $1500
Cardano (ADA) Price Analysis
- Cardano price continues to trade within the same falling wedge but hovers close to the upper resistance
- The asset after a brief consolidation within the crucial lower support could eventually breach through the pattern and rise high
- While the upper target for ADA price is somewhere around $0.48, the asset may encounter a bearish action at $0.457. Therefore, if it sustains the selling pressure at these levels, a notable upswing may make its way out soon
- Therefore, the Cardano (ADA) price during the weekend may trade between $0.428 to $0.436
Ripple (XRP) Price Analysis
- Ripple price is undergoing a parabolic recovery to regain levels beyond $0.63, however, the bears currently seem to have hindered the rally
- The price is constantly testing the lower demand area and rebounding finely, indicating the revival of the bearish trend very soon
- While the XRP price continues to trade within a bullish flag formation, a notable leg-up may uplift the price beyond $0.6 very soon
- Therfore, during the weekend, the XRP price may attempt to rise above the crucial resistance and could test the crucial resistance at $0.65.