Cryptocurrencies Price Prediction: Ethereum, Cardano & UniSwap — Asian Wrap 24 Feb

FXStreet Team FXStreet

Ethereum price eyes quick 15% rally if it can hold above this support level

Ethereum price is stuck between two massive barriers that are squeezing the altcoin into consolidation. The recent retest of the support area suggests that ETH is due for a quick run-up. Ethereum price slid lower due to the recent crash and tagged the $2,160 to $2,567 demand zone.

Cardano price attempts recovery to $1 as ADA bears exhaust

Cardano price shows that it has two stable support levels beyond which, it could crash swiftly to $0.459. A bounce off the current foothold at $0.805 is likely to trigger a 25% ascent to $1. Failing to hold above $0.805 will lead to a 16% crash to the last line of defense at $0.676.

Uniswap to return to $14 as UNI finds support and willing buyers

Uniswap price action has been some of the most bearish and worst-performing of the past year. UNI is close to 80% below its all-time highs, but a mean reversion trade may be imminent. Limited upside potential exists, but support may be developing.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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