Cryptocurrencies Price Prediction: Cardano, Ethereum & Ripple — Asian Wrap 07 Mar

FXStreet Team FXStreet

Cardano begins seventh consecutive month of losses, ADA weekly close lowest since February 2021

Cardano price action last Monday hinted at a possible recovery and broader trend change after six consecutive months of losses. However, sellers remained in control and not only wiped out all of Cardano’s Monday gains but pushed Cardano to a new lowest close of the past 390-days.

Ethereum could trigger panic selling as ETH positions for a drop to $1,825

Ethereum price is trading against its final support level at $2,500. The level is below the new 2022 Volume Point of Control and below a bearish continuation pattern. A huge sell-off looks very likely to occur at any moment. Ethereum price has two very bearish conditions on its daily Ichimoku chart.

XRP at make or break point, bulls eye a breakout to retest $1

XRP price action is in a very undesirable position: inside the Ichimoku Cloud. The Ichimoku Cloud represents pain, misery, volatility, indecision, and whipsaws – it's where trading accounts go to die. XRP teased a likely bullish breakout twice during last week's trading but failed to deliver.

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FXStreet Team

FXStreet

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