Cryptocurrencies Price Prediction: Bitcoin, Ethereum, Ripple, Cardano & Binance– American Wrap 28 December – FXStreet
FXStreet Team FXStreet Bitcoin price action forms a bull flag on its Point and Figure chart, indicating a return to the $60,000 value area. Ethereum price faces consistent rejection against key Ichimoku resistance levels, preventing any close above the $4,000 value area. XRP price continues to find difficulty holding above two key Ichimoku levels. Cardano (ADA) price has been on the right track these past few days, with a technical rally that saw bulls rejected by the 55-day Simple Moving Average (SMA) at $1.63, just a few ticks shy of the $1.68 significant historical level. ADA price gaps were lower this morning and looked to be pairing back most of the built-up gains from last week in search of support. Expect price action to dip further with support at $1.37 or $1.20.
The crypto market crash on Monday triggered cascading liquidations in futures across derivatives exchanges. Assets with the highest market capitalization were hit the hardest in the bloodbath.