Cardano Targets $3 While Bitcoin, Ethereum Set Uncertain Price Actions

Bitcoin and ETH, the two most prominent crypto assets, are currently showing slight gains. However, Cardano continues a genuine market bull run and is most likely to hit $3. 

Bitcoin Price Analysis

Early 29th August, Bitcoin seemed to start by a positive price action as it increased past $49.6k. Bitcoin has been in a bearish-bullish situation in the past few hours, plunging $47928 and later surged to $48957. CMC caps the 24-hour price change at about a 0.5% increase. 

Since the situation is uncertain, Bitcoin could easily take a bearish turn. For instance, the current most immediate BTC price support is $47.1k. If BTC plunges, it could be able to maintain the values at $47k and above.

If bitcoin begins to make a bullish statement, it could quickly go past $50k. The most immediate resistance level for Bitcoin is $50.9k, with another strong one following at $52.6k. The bullish trend is likely to occur starting Monday as the trading volumes in the markets increase. Taking a bullish turn will make the $100k goal almost realistic for BTC. 

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Ethereum Price Analytics

Like Bitcoin, Ethereum is also in an uncertain market situation. Early 29th, the coin was trading at $3226. It managed to increase in value to over $3281 and immediately turned course. The lowest trading value for this coin at the time of writing is $3158. However, the most recent ETH price was $3170. 

The coin can quickly go into a short or long bullish trend beginning Monday. It will face strong resistance points at $3338, $3411, and later $3550. Hitting and surpassing the resistance levels will set ETH to a further price surge and register a new ATH. Upcoming events with the coin will most likely boost its prices. 

Ethereum can also take a bearish turn. The support levels stand at $3200, $3126, and $2988. Although possible, it’s currently unlikely. If the drop occurs, the coin would quickly start retracing at $3126. Also, as the week starts, more trading volume will contribute to higher prices. 

Cardano Headed to $3

Cardano seems to be the fastest-growing top crypto asset trading at about $2.81, according to Coinmarketcap. The price is an increase from the earlier levels of $2.73. A reversal trend is doubtful to occur in Cardano. 

A few days ago, IOHK, the developers of the Cardano network, announced the launch of an ERC-20 converter tool. The tool will launch on testnet this week. Therefore, the first genuine Defi tests will start occurring in a few days. The news led to an increase in prices, and as it nears, the price will increase further. ADA is most likely going to hit $3 in the next few days. 

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There is so much hope for Cardano in the coming months. Experts already predict that Cardano will hit$5-$10 by the end of the year. Next month, Cardano will implement Alonzo hard fork to begin its smart contract era.