Cryptocurrencies Price Prediction: Cardano, Bitcoin & Meme – European Wrap 29 December

Cardano Price Forecast: ADA bulls bet on rising DEX trading volume

Cardano (ADA) ticks higher by almost 4% at press time on Monday, approaching the $0.40 mark. Derivatives data suggests a risk-on sentiment among traders as ADA futures Open Interest and bullish bets surge. The technical outlook remains bullish, with ADA targeting an overhead resistance trendline amid a positive shift in momentum. 

Bitcoin consolidates as downside risks persist

Bitcoin has made only three wave rallies from the November lows, which is one of the most important indications that more weakness may still lie ahead. Due to the holidays, it is not surprising that price is currently trapped in a range, and based on the latest price action this could be forming a triangle in wave four. This is still a continuation pattern, but it may need another subwaves D and E before we can expect the next push lower, possibly in January. In that case, price could drop back toward the 80k area, or even lower, within an impulsive wave A that is clearly visible on the daily chart. The invalidation level is around 99k, and as long as the current wave structure trades below that level, traders should remain cautious and prepared for another leg down in the near future.

Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe recover, echoing Bitcoin rebound

Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are trading mixed as Bitcoin (BTC) records minor gains on Monday, warming sentiment across the broader cryptocurrency market. Still, the incipient recovery in Dogecoin, Shiba Inu, and Pepe remains fragile amid the prevailing downtrend.