Autor: dot-traders

The crypto market has in general been very risk-averse. Even though we have seen loads of volatility, the general trend in the market has remained bearish. Ethereum Classic (ETC) is one of those coins that have been affected by this, and it seems the coin has very little bullish momentum right now. Here are some highlights:

• ETC has managed to keep price action above the $25 support for now.

• The token is currently trading at $26.56, virtually unchanged in the last 24 hours.

• Despite this, ETC remains highly vulnerable to selling pressure.

Data Source: Tradingview 

Ethereum Classic (ETC) – Where does the price go?

A look at the price action over the last few days suggests that ETC is trading within a symmetrical triangle. This means that the coin is oscillating between support and resistance in almost the same breath. So, even if ETC was somehow able to build an upward trajectory, the coin would likely pull back at $28 and return to the $25 support. 

This is why we feel there is very little bullish momentum right now. But even with this symmetrical triangle, ETC still remains highly vulnerable to selling pressure. In fact, with current market volatility, it will be highly unreasonable to expect ETC to hold the $25 support in the days ahead. As a result, we believe that the only way the symmetrical triangle breaks is if ETC goes on a downtrend.

Why buy Ethereum Classic anyway?

It’s always hard for most investors to buy coins that appear to have plateaued or those that don’t seem to have enough upward momentum. But at the end of the day, the long-term outlook is what really matters for crypto investors. 

While right now, Ethereum Classic (ETC) appears to be struggling with bullish momentum, in the medium and longer-term, the coin will still deliver value for investors.

The post Ethereum Classic (ETC) struggles to report any bullish rise – Where does it go next appeared first on Coin Journal.

The start of March has been bittersweet for Cardano (ADA) but mostly, the coin has traded sideways. As more bear pressure starts to build, ADA is staring at the possibility of hitting an all-time low in the near term. Here are some notable highlights:

• Cardano (ADA) has broken the crucial $0.8 support

• At press time, the coin was trading at $0.79, up around 1% for the day.

• More weakness will follow, and ADA could bottom below $0.7, the lowest level this year.

Data Source: Tradingview 

Cardano (ADA) – Price analysis and prediction

After trading sideways for most parts of March, Cardano (ADA) looks like it doesn’t have any bullish momentum to rise further. The coin had managed to hold the $0.8 support over the last week or so but that level has now been breached. At the time of writing, ADA was trading at $0.79.

We expect more weaknesses to follow. In fact, looking at the daily price movement today, ADA has moved predictably sideways again, posting gains of just 1%. It is likely that the coin will bottom at $0.7 or lower. This could push ADA to its lowest level this year.

The fall from grace couldn’t be more shocking. At the tail end of January, ADA was testing $1.64 in what appeared to be a decent upward trajectory. But as of now, the coin has lost over 50% in value from those highs.

Is Cardano (ADA) a good buy

Despite its up and downs, ADA still remains one of the main crypto assets in the market. There is no doubt that the long-term fundamentals will still remain positive.

But in case you would love to get ADA cheaply, it would be nice to wait a few weeks. Once the coin bottoms below $0.7, you can swoop in, buy, and hold it for a year or so.

The post Cardano (ADA) could hit the lowest price this year in the coming days appeared first on Coin Journal.