The leading analysts of the cryptocurrency market have announced the critical levels of SHIB, ATOM, ADA and LTC for the next week! Here are the details…
Critical levels for Cardano (ADA) have been announced!
Over the past few weeks, Cardano’s price has experienced significant fluctuation. The altcoin initially rallied at $0.37 but was later rejected at $0.45. However, there has been a slight increase of 1.3 percent in the last 24 hours, while the weekly chart points to a price increase of 6.2 percent. ADA’s technical analysis shows that the bulls are trying to take control of the price. Demand and accumulation showed signs of recovery.
Despite the slow progress in ADA price, there is a critical resistance level that must be overcome to trigger a rally. For the bulls to gain further momentum, the buying power needs to increase significantly in the coming trading sessions. Also, major altcoins are stagnating as Bitcoin struggles to reach $30,000. If BTC retraces this level, it could push the ADA bulls to push the price higher in the next trading sessions. Also, ADA’s market cap has rebounded, indicating that buying pressure is returning to the market.
Instantly, ADA is trading at $0.40. The upper resistance was at $0.42. This level has proven to be a major hurdle for Cardano in the past, and many attempts to get past this level have failed. However, if ADA manages to break above this resistance level, it could trigger a rally and push the price towards $0.46. On the other hand, if the price declines from its current level, the support level stands at $0.39. If ADA fails to stay above this support level, it could cause the price to drop to $0.36. The amount of ADA traded in the last session turned green, indicating an influx of buyers.
Demand for ADA has seen a slight increase, while purchasing power on the daily chart has seen a slight decrease. The Relative Strength Index remains above the half line, indicating that buyers still have control of the market. However, Cardano’s move below the 20-Simple Moving Average line suggests that sellers may soon take control as demand is not enough. This technical analysis implies that sellers are driving the price momentum in the market.
ADA has created sell signals in line with other indicators. The Moving Average Convergence Divergence showed red histograms below the half line, giving a sell signal based on price momentum and reversals.
What levels can Cosmos (ATOM) see in the near future?
Demand for Cosmos (ATOM) has grown significantly over the past few days. ATOM price dropped to $11.69 after gaining momentum, according to data from CoinMarketCap. ATOM has a current market cap of $3.3 billion and a 24-hour trading volume of $100 million. However, trading volume is still low at 31.18 percent, indicating reduced network efficiency.
Cosmos is an ever-growing, interconnected blockchain network built with developer-friendly application components. The Inter-Blockchain Communication (IBC) protocol is the technology that connects these applications. Cosmos’ SDK platform enables programmers to build world-class decentralized applications (dApps). Other developers such as MM Finance and VVS Finance have also built applications on it. The recent price increase of Cosmo (ATOM) can be attributed to the influx of developers that outstripped Ethereum. Another reason for the ATOM price increase could be that dYdX announced that it is building a standalone blockchain on the Cosmos ecosystem instead of Ethereum.
ATOM price predictions
Cosmos surpassed the $11.69 short-term resistance level and it is now trading between the $10,571 and $15,484 support and resistance levels. ATOM must surpass the $15,484 primary resistance level to confirm bullish momentum.
However, the bears are trying hard to break the $10,571 support level but failed to do so due to the high bullish momentum. If the strength of the bull is not strong enough to move forward, the bears could take over the trend and cause the trend to reverse.
The reversal of ATOM’s 50-Day SMA caused the structure of the market to change. If the uptrend doesn’t pick up, the trend could turn into a potential bearish market. The 50-Day SMA has crossed below the 200-Day SMA, forming a death-cross, indicating a potential bearish signal and presenting a sell opportunity. The Relative Strength Index (RSI) analysis indicator allows traders to determine the momentum and strength of an asset’s price action over a period.
During the analysis, the RSI of ATOM/USDT is above the neutral zone with 61.74. So this indicates that ADA is neither in the overbought nor oversold territory. However, buyers are building momentum to take ADA into the overbought zone, while the seller is pushing it down despite the weak momentum.
Litecoin (LTC) price is on the rise!
Litecoin is trading in the green today, between the $89.78 and $90 price level, to consolidate above its closing price of $89.73. LTC started the year trading at $70 on January 1, 2023. It rose to $80 by Jan 10 as the bulls took control. The crypto traded for the first time in 2023 at $100.44 on February 1. However, market volatility forced the asset to retest its former lows and it is currently trading in the $89-$90 price range.
LTC formed a green candle on the price chart today, showing a slight recovery from the downtrend noticed on the chart on April 28. However, today’s price change is not on a wide margin as it remains a sideways trend despite its gains. LTC is trading above its 50-day and 200-day Simple Moving Averages (SMA), which is a short- and long-term bullish sentiment for the asset. The Relative Strength Index is in neutral territory at 48.18. Also, the indicator moves sideways, reflecting the sideways trend on the daily chart.
Litecoin found strong support at $88.25, preventing the asset’s price from falling further. Other critical support levels are $65.39 and $47.5. The resistance levels are at $94.35 and $103.42.
The $90 price level is a psychological resistance level Litecoin is testing today. If the bulls prevail, the coin will likely bounce back from the $88.25 resistance level and trade above the $90 price level. However, the sideways trend may continue in the short term.
Litecoin halving could play a critical role
cryptocoin.com As we reported, Litecoin undergoes a halving every four years as a fork from the original Bitcoin blockchain. The Litecoin halving event occurs every 840,000 blocks and will reduce the rewards of LTC miners from 12.5 LTC to 6.25 LTC. Blockworks reports that Litecoin historically rose six months before the halving took place. LTC peaked with 320 percent gains about 45 days before each halving, then gave up most of those returns a month after the halving event.
LTC closed the year after each halving, gaining around 80 percent to 110 percent compared to its pre-halving price. Therefore, this event seems to encourage positive price action for the asset. While the excitement around halving often influences price action, other macroeconomic factors such as inflation and regulation also influence trends.
What do experts think for the price of the Shiba Inu (SHIB)?
The Shiba Inu (SHIB) has started the year aggressively, rising alongside other meme coins. The Shiba Inu coin’s value on Coinecko is currently at $0.00001027, down 3.4 percent in the last seven days, while it has dropped by a more substantial 7.8 percent in the last two weeks.
The support level for SHIB is currently set at $0.0000095. Alternatively, the momentary resistance level at $0.00001 refers to the price at which sellers are expected to enter the market and sell SHIB holdings, thus exerting downward pressure on the memecoin price.
The price of SHIB could mean a momentary negative signal and cause investors to sell if it exceeds the support level. On the other hand, if the price breaks above the $0.00001 resistance, it could be a bullish indicator that buyers are flocking to the market and pushing the price higher. Therefore, keeping a close eye on these key levels can help traders make informed decisions when buying or selling SHIB.
Eyes on Shibarium as the SHIB community grows
The Shiba Inu could be an attractive purchase this month for a number of reasons. First, its community is rapidly expanding, with many supporters believing in the long-term potential of the project. The Shiba Inu could be an attractive purchase this month for a number of reasons. First, its community is rapidly expanding, with many supporters believing in the long-term potential of the project. The Shiba Inu community’s enthusiasm for Shibarium is evident in recent posts in the “Shibarium Tech” group on Telegram.
While there were attempts to get information from Shytoshi Kusama about the latest developments, individuals had not heard anything as of April 27 despite Kusama’s promise of “big news before May”. Kusama responded to the community’s enthusiasm for Shibarium updates by emphasizing the transparency of all Shibarium-related activities, including coin transfers.
He also emphasized the team’s determination to make progress and stated that they are working diligently towards their goals. According to Kusama, the team is currently in “continue mode” and focused on achieving their goals rather than just hanging out. Positive updates on Shibarium could have a positive impact on the price of the meme token during the month of May.
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For the rest of the article, SHIB, ATOM, ADA and LTC: Get Ready for This Week!