Cryptocurrency Price Prediction for December 27, 2022: ETH, BTC, Cardano
As predicted by crypto analysts and on-chain experts, there is no Santa Claus rise in the cryptocurrency market. However, it is reassuring that the price of Bitcoin (BTC) is still above the $16,800 level. Additionally, the price of Ethereum (ETH) is under $1,200.
Estimated price of Ethereum
The current price of Ethereum is $1,219 (USD). $1,203 is the 24-hour low and $1,222 is the 24-hour high. Because of this, the price of ETH is also erratic, increasing by 1% per day and more than 3% per week.
ETH reserves on centralized exchanges have decreased by more than 30%, according to on-chain data for the Ethereum Exchange Reserve for All Exchanges indicator. Consequently, investors
are building up and are increasingly optimistic about Ethereum.
According to cryptocurrency analyst Michael van de Poppe, it would be wise to buy at any price above $1,170 in the long run. It will be advantageous for Ethereum if its closing price in 2023 is higher than the support level.
Price Prediction for Bitcoin
One Bitcoin is currently valued at $16,839. The low and high for the past 24 hours are, respectively, $16,755 and $16,908 As a result, BTC's price has increased by only 2% in the last week and almost 1% in the last day.
The exchange reserves are still declining, according to an on-chain analysis of the data from the Bitcoin Exchange Reserves for All Exchanges. Furthermore, the 14-day and 30-day SMMA of Bitcoin reserves on cryptocurrency exchanges show that historically, the price of Bitcoin has increased when the 14-day SMMA crossed the 30-day SMMA.
Therefore, a bullish trend may start if the exchange reserve moving averages cross in the positive direction.
On-chain reports from the past also indicated that the selling pressure from miners had subsided and that whales were dispersing their Bitcoin holdings to investors.
Rekt Capital, CredibleCrypto, and other well-known cryptocurrency analysts agree that the monthly closing of the Bitcoin price above or below the $16.9k–$17k range will determine the market's direction in 2023, whether it is bullish or bearish.
If bitcoin closes below the line, its price is predicted to drop below $15,600. In contrast, a closing higher would indicate that Bitcoin is bullish.
Price Prediction for Cardano
The price of Cardano is expected to plunge 91.6% from its record high of $30.9 on September 2, 2021, and will finish the year in an apparently never-ending rabbit hole. The fact that ADA lost 82.6% of its value in just one year further dissatisfied investors.
Some investors took the call, most notably whales who are currently on a purchasing spree. Addresses owning 1M to 10M ADA now hold 16.19% of the network's total supply, up from 15.98% on December 14, according to on-chain data from Santiment.
With 10M and 100M ADA, the development trends of whale and shark addresses are comparable. This tier's percentage of supply increased by 0.42% to 41.54% within the same time frame. Cardano's value would begin to rise as ADA demand increased, signaling that the market downturn had passed.
CliCk Hire Now 👇👇👇
https://bit.ly/3C2MGDL