As the price of bitcoin peaked in six days at $ 43,000, most altcoins posted impressive gains on a daily basis. ETH topped $ 3,150 and briefly exceeded $ 3,250. XRP was able to gain strength above $ 0.75, while ADA broke through the resistance zone of $ 1.20.
Is the crypto market back on track or the bears are taking back control?
Capo, a pseudonymous analyst, tells his 232,000 Twitter followers about possible funds in Bitcoin and Ethereum, as well as the smart contract platforms Solana (SOL) and Cardano (ADA).
Bitcoin price
When it comes to Bitcoin, the expert predicted a scenario in which BTC falls below $ 40,000 before rebounding sharply and reclaiming the $ 50,000 mark.
According to Capo, Bitcoin’s current price range represents one of the most promising business opportunities for 2022. The trader sees a buying opportunity between $ 40,000 and $ 45,000, making it one of the best odds. purchase of the year.
The price of Bitcoin started to recover after closing above $ 41,500 and broke above the $ 42,500 level. The flagship currency also broke through the $ 43,000 level but failed to strengthen. BTC is now consolidating gains of almost $ 42,700. The Resistance is now at the $ 43,000 level.
In case of an uptrend, the next major resistance is near $ 43,500, above which the price may start a movement towards the $ 44,500 level.
On the other hand, initial support is near the $ 42,000 level. In a prolonged downtrend, the next key support is near $ 41,750, below which the price may retest 40,500.
Cardano Price
Capo believe Cardano will continue to fall below current prices and end up in the $ 1.00 range before reversing price. He says ADA has passed support and is now trading in the buy zone.
Cardano (ADA) managed to break through the resistance levels of $ 1,180. It jumped above $ 1.20 and is now consolidating. The next major resistance is near $ 1.22, above which the price may accelerate towards the $ 1.25 level.
While the crypto-trader’s short-term analysis on Cardano looks bleak, his longer-term outlook is bullish. Capo made a Cardano prediction last month that places ADA 600% higher than current prices. He believes that if ADA can maintain the $ 1.00 level, an increase to $ 10 is possible this market cycle.
