Cryptocurrencies Price Prediction: Cardano, Bitcoin & POL — Asian Wrap 1 September
|Cardano founder intensifies rivalry with Ethereum amid ADA's bearish streak
Charles Hoskinson, founder of Cardano (ADA), has intensified the rivalry with Ethereum (ETH) and made other key comments in his recent Ask Me Anything (AMA) session on Sunday. Ethereum, the largest altcoin by market capitalization of $532 billion, outpaces Cardano by a huge margin, which has a valuation of $28 billion. Furthermore, the on-chain data puts Ethereum on a pedestal far higher than Cardano, reflecting its larger adoption.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP downtrend eases, focus shifts to recovery
Bitcoin price faced rejection from its previously broken ascending trendline on August 23 and declined by 7.43% until Sunday. At the time of writing on Monday, it continues to trade down at around $107,600, approaching its key daily support level of $105,573. If BTC finds support around its daily level at $105,573, which also roughly coincides with the 61.8% Fibonacci retracement level at $105,386, it could recover towards its daily resistance at $116,000.
Crypto Gainers: POL breaks key resistance, BUILDon and KuCoin extend rallies
POL edges higher by over 2% at press time on Monday, extending the 8% gains from Sunday. The uptrend exceeds the $0.2750 supply zone and the 38.2% Fibonacci level at $0.28222, which is drawn from the $0.7685 high on December 3 to the $0.1519 low on April 7. A decisive close above this Fibonacci level could further drive the rally to the 50% retracement level at $0.3417.
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