Cryptocurrencies Price Prediction: Cardano, Bitcoin & Hyperliquid — Asian Wrap 23 June
|Cardano Price Forecast: ADA profit-taking and dormant wallet activity rise as BTC dips below $100K
Cardano (ADA) price hovers around $0.54 on Monday, after falling nearly 15% last week, as tensions in the Middle East escalated following the US attack on Iran. This double-digit correction triggered a wave of liquidation, wiping out a total of nearly $17 million in long positions last week. Additionally, the on-chain metrics support the bearish thesis as ADA profit-taking and dormant wallet activity are increasing, signaling growing selling pressure.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Bears set sight on $98K BTC, $2K ETH and $1.77 XRP
Bitcoin price closed below its 50-day Exponential Moving Average at $102,942 on Saturday and declined 1.13%, reaching a low of $98,200 the following day. At the time of writing on Monday, it hovers around its key level of $100,000. If BTC continues its correction and closes below $100,000 on a daily basis, it could extend the decline to retest its Sunday low of $98,200. However, if BTC recovers, it could extend the recovery toward its 50-day EMA at $102,942.
Top Crypto Gainers Price Prediction: OKB, IP, HYPE post gains, shrug off Bitcoin’s dip to $100,000
Hyperliquid reports a minor growth of under 1% at the time of writing on Monday. HYPE marks the third consecutive bullish candle, extending the 7% weekend recovery. A support trendline formed higher lows on April 7, April 28, May 6, and June 20. The immediate resistance for HYPE aligns with the May 25 swing high at $39.05. The MACD indicator inches closer towards its signal line for a bullish crossover, considered a trend reversal and buy signal. The RSI at 49 reverses towards the halfway line as bullish momentum replenishes, indicating a potential uptrend continuation.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.