Ethereum(ETH) Price Analysis
The bulls who entered expecting a significant surge in ETH price above $3500 appear to be pretty trapped at the moment. As the price currently has slashed below $3200 but quickly ignited with a rebound much before the crucial support at $3000. Currently, the bulls appear slightly distinct compelling the ETH price to consolidate for a while.
The ETH price broke down from the rising wedge and dropped heavily during the previous trading day and currently trying hard for a strong rebound. The price is expected to continue with the plunge after a brief consolidation as the RSI is dropping hard. On the other hand, MACD indicates ease in buying pressure and flashes a strong sell signal. Therefore, one can expect a healthy consolidation until the beginning of the weekend and a drastic change before the beginning of the fresh weekly trade.
Cardano(ADA) Price Analysis
Cardano price on the other hand appears to have handled the trembled situation with ease as the pattern suggests a significant upswing incoming. After a notable parabolic recovery from $0.77 to $1.2, the ADA price dropped back to the crucial $1.01 support zone. At present, the asset is trying hard to flip from these levels, failing to which it may even exit the top 10 ranking lists too.
The ADA price is currently attemping to ignite a rebound from the crucial support at $1.01. However, in the short term, the ADA price is expected to plunge back towards the lower support as the RSI is pointing towards the north and the MACD is slightly bearish. Therefore, the asset is expected to consolidate along with these levels for some time before gaining strong momentum to nullify the bearish trend. And hence the Cardano price may continue its swing within the narrow range and attempt a significant breakout during the weekend.