Cryptocurrencies Price Prediction: Cardano, Ethereum & Internet Computer — Asian Wrap 18 November

Cardano Price Forecast: ADA stabilizes at key support with signs of on-chain recovery

Cardano (ADA) is stabilizing around the daily support level of $0.45 at the time of writing on Tuesday, after correcting nearly 4% the previous day. Despite the recent dip, on-chain and derivatives indicators are showing early signs of recovery, with the Market Value to Realized Value (MVRV) ratio undervalued and funding rates turning positive. On the technical side, if price action holds above the key $0.45 support level, ADA could be positioned for a short-term rebound.

Ethereum Price Forecast: ETH faces pressure near $3,000 as BitMine continues buying spree

Ethereum treasury company BitMine Immersion Technologies announced on Monday that it bought 54,156 ETH last week, pushing its holdings to 3.56 million ETH. The firm also reduced its stake in Worldcoin (WLD) treasury Eightco Holdings (ORBS) from $61 million to $37 million. BitMine now holds $11.8 billion in total assets, including a 192 Bitcoin (BTC) stash and $607 million in unencumbered cash, according to a statement on Monday.

Crypto Gainers: Internet Computer, Filecoin rebound in a bear market

Internet Computer edges higher by over 6% at press time on Tuesday, extending the 15% rebound from Monday. The recovery cements a strong support at the R1 Pivot Point at $4.70, with bulls aiming to reclaim the $6.00 level. If the recovery clears the R2 Pivot Point at $6.47, ICP could target the R3 Pivot Point at $8.25 level. The momentum indicators on the daily chart corroborate the short-term bullish shift as the RSI at 54 bounces off the midline, suggesting an increase in buying pressure. Furthermore, the MACD and the signal line shift sideways from a negative trend, increasing the possibility of a bullish crossover.