|

Cryptocurrencies Price Prediction: MATIC, Bitcoin & Cardano – American Wrap 01 May

MATIC price magic fades away as investors’ presence retreats to two-year lows after a 20% dip

MATIC price lost a key support level as it followed the lead of the biggest cryptocurrency in the world. The bigger issue than the price fall, however, is the fall in conviction, as close to half of the investors have pulled back since red candlesticks gained dominance on the charts.
MATIC/USD 1-day chart
Cardano (ADA) price has dropped like a stone this Monday as the ASIA PAC session brought a 5% loss with it. Expect to see a turnaround near the US trading session once fresh buyers can buy into the current opportunity of Cardano at a reduction. With plenty of support, a bounce higher looks reasonable to break above $0.42 with a 10% gain in the books.
ADA/USD  4H-chart    
Bitcoin traders are watching the week’s macro events closely for clues on BTC price movement. The US Federal Reserve’s interest rate decision on May 3, the FOMC conference and the Nonfarm Payrolls data release on May 5 are the key events for BTC traders keeping their eyes peeled. 
Bitcoin Open Interest on Binance
 

Author

FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

More from FXStreet Team
Share:

Editor's Picks

XRP defends $1.30 support as Ripple partners with Arf to bring RLUSD settlement liquidity to XRPL

Ripple holds near recently confirmed support at $1.30 on Friday, as bulls eye a short-term recovery toward $1.40. The remittance token’s upside remains capped by structural levels, suggesting recovery would depend on whether buyers can sustain momentum.

Bitcoin Weekly Forecast: BTC extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot ETFs recording $442.67 million in net inflows through Thursday.

Crypto Today: Bitcoin holds the 50-day EMA as Ethereum and XRP face structural resistance

Bitcoin gradually ticks up on Friday, trading above $81,000. The Crypto King has recently defended structural support near $80,000, reinforcing the prevailing bullish outlook. Ethereum similarly edges higher above $2,400, while Ripple trades above $1.32 after testing support around $1.30.

Pi Network holds modest gains as mixed technicals curb upside

Pi Network (PI) price is up 2% on Friday, showing signs of recovery while the broader cryptocurrency market faces near-term weakness. The crypto market sentiment eases to neutral from bullish amid rising long liquidations.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.