Ethereum (ETH) and Cardano (ADA) Price Analysis
Ethereum (ETH) Price Analysis
Ethereum (ETH) price is back to blazing the path that other cryptocurrency projects hope to imitate – up only.
After the launch of EIP-1559, Ethereum was almost certainly going to at least trade sideways for some time and had a bit of a hangover after the price trended so bullishly in anticipation of the improvement proposal.
So, with ETH running up towards the top of the range, we’ve been watching closely at $3,5k. What can traders expect in the coming days from this asset?
Ethereum’s 4hr chart is a thing of beauty, and Stargazer_fx is showing on the chart below that there’s a lot more upside yet to come if the macro trend continues to cooperate.
The next bullish target on Ether on the 4hr chart is $3,579, followed by a secondary target of $3,880 and a third target of $4,168.
If bulls continue to control the level Ether’s been trading in above $3k, then a test of the first target should be coming in time.
Ether’s 24 hour range is $3,175-$3,377 and the 7 day range is $2,983-$3,377. ETH’s 52-week range is $320-$4,352, and Ether’s 30-day average price is $2,837.
Ethereum price closed Monday’s daily candle worth $3,323 and in green figures for the second day in a row.
Cardano (ADA) Price Analysis
Cardano spent much of Monday’s daily candle with double-digit gains by percentage. ADA is now the number #3 cryptocurrency project by market capitalization and set multiple new all-time highs on Monday before nearly cracking $3.
ADA’s new all-time high is $2.94, and the asset is now +134% against the U.S. Dollar over the last 30 days, +63.63% against BTC, and +53.98% against ETH over the same duration.
The chart below from P_S_trade shows Cardano setting up to head towards much higher prices potentially and above $4 if bulls have their way.
The bullish uptrend on Cardano’s daily chart is intact above the trendline at $1.12. If bears have any chance at regaining control on the 1D timescale, they need to crack $1.80 firstly because bulls are in absolute control above that price.
ADA’s 24-hour range is $2.84-$2.94, and the 7-day range is $1.92-$2.94. Cardano’s one-year range is $.075-$2.968, and ADA’s 30-day average price is $1.71.
ADA price closed the weekly timescale on Sunday in green figures for the 6th consecutive week.
On Monday, Cardano closed its daily candle worth $2.91 and in green figures for a second consecutive day.