Cryptocurrencies Price Prediction: Cardano, VeChain & Bitcoin – American Wrap 07 May
|Cardano Price Forecast: ADA joins the party, revealing extraordinary upside potential
Cardano price breakout from trading range delivers largest daily gain since March. Polygon (MATIC) precedent suggests the ADA rally is just beginning. ADA/BTC pair is on the verge of an explosive rally. Cardano price successfully released from a bullish cup-with-handle pattern on May 5, kickstarting a rally through the longstanding trading range highs while setting new all-time highs in the process. Historical precedent suggests that ADA has further to rally moving forward.
Top 3 Prediction Bitcoin, Ethereum, Ripple: BTC perplexes, as ETH consolidates and XRP activates trading rule
Bitcoin price needs a catalyst to shake the magnet effect of the 50-day simple moving average (SMA). Ethereum price meets resistance at long-term Fibonacci extension. XRP price breakout from bullish base falters, temporarily forcing traders to be defensive. Bitcoin price breakout from an inverse head-and-shoulders pattern stalls, preserving the recent tendency to underperform lesser-known altcoins. Ethereum price meets the first significant technical challenge since $2,040. Ripple price remains aligned with new rally highs moving forward.
VeChain Price Prediction: VET upswing thwarted again as sell signals multiply
VeChain price has failed its third attempt to breach the $0.228-$0.245 supply zone. A decisive close above $0.245 will signal the start of a new bull rally. The development of MRI’s sell signal worsens VET outlook as sellers eye a 12% decline. VeChain price shows an ambiguous outlook as it has set up a textbook uptrend with a series of higher highs and higher lows, but technical indicators hint at a downtrend.
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