Cryptocurrencies price prediction: Bitcoin, Ethereum & Cardano – European Wrap – 28 January
|Bitcoin Price Prediction: BTC/USD hints retracement to $8,600 – Confluence Detector
Bitcoin has been mostly in the green on Monday following a few days of posting a winning streak. The move above $9,000 revived the hopes of seeing Bitcoin trade towards the psychological $10,000 level. However, for now, BTC/USD is holding on to the subtle 0.77% gains on Monday. Unfortunately, there has been a shallow retracement with Bitcoin returning into the $8,000 range.
Bitcoin confluence levels
Initially, Bitcoin’s upside is limited at $9,010 as highlighted by the previous low 1-hour, previous high one-day, pivot point one-week resistance one, SMA 50 15-minutes and the previous high 15-mins. The journey towards $9,200 will face more hurdles at $9,196 and a zone where the Bollinger Band one-day upper curve, the pivot point one-month resistance three, previous week high and the Bollinger Band one-hour upper curve.
Ethereum Price Analysis: ETH needs another catalyst to continue gains
Ethereum (ETH) has been gaining ground for three days in a row. The coin hit an intraday high at $173.58, but retreated to $172.16 by the time of writing. Despite the downside correction, ETH/USD is still nearly 3% higher on a day-to-day basis. Ethereum's market capitalization has increased to $18.9 billion, while an average daily trading volume is registered at $11 billion.
Cardano Price Analysis: ADA/USD bulls set their eyes on SMA50 weekly
Cardano (ADA) is the tenth-largest digital asset with the current market value of $1.3 billion. The coin has been one of the best-perfroming assets with over 15% of gains in recent 24 hours. At the time of writing, ADA/USD is changing hands at $0.0515, which is 57% higher from the beginning of the year. Cardano's average daily trading volume is registered at $168 million.
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