Leaving another week behind, Bitcoin and altcoins seem stagnant. So, what levels can Bitcoin, Ethereum and Cardano see next week? Here are the comments of an analyst…
What to expect for Bitcoin next week?
Bitcoin price has experienced a parabolic recovery over the past two weeks. It’s close to the neckline of consolidation. According to analyst Sahana Vibhute, the price could see a slight pullback near $21,000. It can recover finely above these levels at the earliest. Currently, the star crypto has resistance levels around $21,700 while support levels are at $21,2100.
What’s next for Ethereum?
Ethereum price is currently trading inside an ascending triangle. Therefore, it was rejected several times at the resistance at $1270. According to the analyst, the price could maintain a significant bullish momentum. After a slight pullback, it may head towards resistance. ETH price resistance is currently around $1270, while support levels are recorded at $1150.
What are the levels that can be seen in Cardano price?
After the last turn of the lower support Cardano price maintains its trend inside an ascending parallel channel The asset is hovering in the middle bands of the channel. According to the analyst, after falling slightly below these levels, the price could make a good recovery. For ADA price, resistance is currently around $0.52, while support levels are near $0.44.
Cardano whales in accumulation
Meanwhile, Cardano whales appear to be accumulating. The price of the asset has remained relatively quiet over the past few weeks, as we have also reported on Kriptokoin.com. On the other hand, medium-sized ADA investors added almost 80 million tokens in one month. Ten chains provided by Santiment reveal data.
The analysis company categorizes different Cardano investors in color, divided into groups from 10,000 to 10 million. Almost all of them have been divesting their assets since February. Whales (holding 1 million to 10 million coins) have been the biggest losers, especially since the crash in mid-June. However, as Santiment points out, they drastically reduced sales in the coming weeks.
At the same time, smaller ADA investors (with investments between 10,000 and 100,000 tokens), called sharks, continued to accumulate, buying just over 79 million ADA in the past month. Considering the current price of the asset, this amount equates to $37 million. Speaking of price action, Cardano’s native crypto plunged from $0.65 to just under $0.45 during the mid-June crash. It crashed shortly after. He challenged $0.55 but failed. It currently stands at around $0.5 as mentioned above.
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