Cryptocurrencies Price Prediction: Zilliqa, Bitcoin & Cardano — Asian Wrap 08 Apr

Zilliqa price momentum wanes, putting new all-time highs on hold

Zilliqa price cleared the neckline of a massive head-and-shoulders bottom pattern in November 2020, resulting in a 630% rally at Monday’s high. This rally has captured support at the 50-day simple moving average (SMA) on every pullback over the last three months. However, all trends need a structural reset, and resistance at the all-time high will likely be the catalyst to initiate a deeper correction.

Bitcoin mining could undermine China's efforts to reduce carbon emissions

The energy consumption related to cryptocurrency mining is a topic of debate among critics and advocates of these digital assets. Minting one Bitcoin requires a lot of electricity, which is at odds with the global movement to reduce carbon emissions. 

Cardano Price Projection: ADA poised for a 270% upswing

Cardano price climbed 270% in February on the highest monthly volume total since the digital coin inception in 2017. The correction process through March and early April has formed a pennant continuation pattern that includes two weekly dojis.