Bitcoin, Ethereum, Cardano Price Plummets, Will it Bounce Back?
- With rising liquidations, Ethereum has underperformed.
- With the price nearing $1.8, a breakthrough is imminent.
Crypto traders seem to be unhappy following early Tuesday’s market fall. But the indications and reiteration of a historical trend scream ideal. Also, new data reveals significant institutional investments in the crypto market. Bitcoin had the highest weekly inflows of $97 million, followed by Ethereum and Cardano with $17.3 million and $16.4 million, respectively. Crypto expert Jason Pizzano identifies key entry and departure locations for Bitcoin, Ethereum, and Cardano.
Bitcoin Analysis:
The price fell sharply to $59.25k after significant rejection at the $66.14k resistance neckline. To confirm the double top pattern, the Bitcoin price is likely to drop another 15%. Likewise, given the price’s recent upward trend, the next step should take beyond $70k.
ETH Price Analysis:
With rising liquidations, Ethereum has underperformed the bulk of cryptocurrencies, losing over 5% daily. The price has lost 36%, 36%, and 34% in three consecutive bear markets in the last three months. A 15% dip in the current bear market looks to be the top altcoin’s trend. It would drop another 10% to $3,700. But a price spike is coming.
Cardano Analysis:
Cardano price has been moving in symmetrical triangles. A breakthrough is near. The ideal entry zones for buying cryptocurrency are $1.5-$2. With the price nearing $1.8, a breakthrough is imminent.
Bitcoin Growth Continues!
On Tuesday, the BTC price dropped from $66.2k to $59.303k, causing a strong sell-off. Moreover, the fear and greed index remained neutral. But the most important asset still has room to rise.
Bought the dip a little early today, but it's another BUY:
— venturefound?r (@venturefounder) November 16, 2021
The 3rd largest #Bitcoin whale wallet added 207 more #BTC today at $62k for a total of $12.8M USD. This came after adding 1,123 BTC at $64k last Friday.
This wallet now owns 108,528 BTC with an unrealized gain of $4.7B pic.twitter.com/BcoQLLuyyB
However, one of the whale addresses has verified the biggest Bitcoin collection, stated a crypto analytics platform Venture founder. He just tweeted about the purchase of 207 BTC for $62k, or $12.8 million USD.
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/bitcoin-ethereum-cardano-price-plummets-will-it-bounce-back/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
