Bitcoin, Ethereum, Cardano Price Plummets, Will it Bounce Back?

3 Best Ethereum Killers to Consider by Investors in December 2021
  • With rising liquidations, Ethereum has underperformed.
  • With the price nearing $1.8, a breakthrough is imminent.

Crypto traders seem to be unhappy following early Tuesday’s market fall. But the indications and reiteration of a historical trend scream ideal. Also, new data reveals significant institutional investments in the crypto market. Bitcoin had the highest weekly inflows of $97 million, followed by Ethereum and Cardano with $17.3 million and $16.4 million, respectively. Crypto expert Jason Pizzano identifies key entry and departure locations for Bitcoin, Ethereum, and Cardano.

Bitcoin Analysis:

The price fell sharply to $59.25k after significant rejection at the $66.14k resistance neckline. To confirm the double top pattern, the Bitcoin price is likely to drop another 15%. Likewise, given the price’s recent upward trend, the next step should take beyond $70k.

ETH Price Analysis:

With rising liquidations, Ethereum has underperformed the bulk of cryptocurrencies, losing over 5% daily. The Ethereum (ETH) price has lost 36%, 36%, and 34% in three consecutive bear markets in the last three months. A 15% dip in the current bear market looks to be the top altcoin’s trend. It would drop another 10% to $3,700. But a price spike is coming.

Cardano Analysis:

Cardano (ADA) price has been moving in symmetrical triangles. A breakthrough is near. The ideal entry zones for buying cryptocurrency are $1.5-$2. With the price nearing $1.8, a breakthrough is imminent.

Bitcoin Growth Continues!

On Tuesday, the BTC price dropped from $66.2k to $59.303k, causing a strong sell-off. Moreover, the fear and greed index remained neutral. But the most important asset still has room to rise.

However, one of the whale addresses has verified the biggest Bitcoin collection, stated a crypto analytics platform Venture founder. He just tweeted about the purchase of 207 BTC for $62k, or $12.8 million USD.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.