What is the price forecast? Cardano e Bitcoin shortly? A recent analysis by renowned cryptocurrency analyst Ali Martinez revealed the movement of ADA and BTC cryptocurrencies in the current dynamic market scenario. What's next for Cardano and Bitcoin?
The analyst highlighted that a promising buy signal has emerged on the daily chart of the Cardano cryptocurrency, after a recent touch at the 0,618 Fibonacci retracement level. The analysis suggested a possible rise in Cardano reaching the price level of US$0,93.
“If this signal holds true, ADA could break above the $0,55 resistance, potentially paving the way for higher targets of $0,69, and possibly even reaching $0,93.
A promising buy signal emerged on #Cardano daily chart, following a recent touch of the 0.618 Fibonacci retracement level!
Should this signal hold true, $ ISLANDS could break past the $0.55 resistance, potentially paving the way to higher targets at $0.69, and possibly even reaching… pic.twitter.com/t2H9IvO9Ea
— Ali (@ali_charts) January 10, 2024
At the time of publication, the cardano price it was quoted at US$ 0,5116, down 3.7% in the last 24 hours. The ADA cryptocurrency has seen a decline in its price of 11.5% in the last seven days.
It is worth remembering that a recent forecast, Martinez highlighted that Cardano could experience a potential return to bullish ADA run. The analysis noted that Cardano price action is echoing its pattern recorded in the years 2018-2020.
“So far, Cardano price action is echoing its 2018-2020 pattern! If this trend continues, we could see $ADA consolidating around its current levels through April, setting the stage for a potential resumption of the bull run.”
Regarding Bitcoin, the analyst noted that TD Sequential issued a sell signal on the cryptocurrency's weekly chart, suggesting a possible correction in the BTC price.
“While not directly linking the upcoming Bitcoin ETF decision to a ‘sell news’ event, it is important to note that TD Sequential issues a sell signal on the $BTC weekly chart. This indicator predicts a correction lasting one to four weeks before #BTC resumes its uptrend.”
While not directly linking the upcoming # Bitcoin ETF decision to a 'sell the news' event, it's worth noting that the TD Sequential flashes a sell signal on the $ BTC weekly chart.
This indicator forecasts a correction lasting one to four weeks before #BTC summarizes its uptrend. pic.twitter.com/Cj6Zir4KOw
— Ali (@ali_charts) January 9, 2024
At the time of publication, the Bitcoin price it was quoted at US$45.086,30, down 3.6% in the last 24 hours. The largest cryptocurrency has registered an appreciation in its price of 5.5% in the last seven days.
Over $300 Million Settled on Bitcoin Markets After Fake ETF Approval
More than $300 million was liquidated in Bitcoin (BTC) markets following fake news about the US Securities and Exchange Commission's (SEC) approval of a spot Bitcoin exchange-traded fund (ETF) on January 9, according to analytics platform, Santiment.
O cryptocurrency market was recently rocked by a series of events involving the United States Securities and Exchange Commission (SEC). A surprising post announcing the approval of Bitcoin Spot ETFs was quickly identified as the work of a hacker who took control of the SEC's official X Twitter account.
