Old season ushered in? Cardano price (ADA) overcomes all resistances
The Ether price knows no stopping for now and almost reached its targeted price target at USD 1,314 yesterday, Thursday 07 January. At this rate, Ethereum should probably reach its all-time high of 13 January 2018 in the near future. Although some investors are certainly likely to realise profits, this chart mark should only be seen as an intermediate stop on the way to new all-time highs. If investors manage to break the Ether price above the all-time high at USD 1,425 on the daily closing price, a subsequent rise to the 200 Fibonacci extension at USD 1,591 is likely. If this resistance is also overcome, the important 261 Fibonacci extension at USD 2,057 will come into the focus of investors. Profits are likely to be realised here again and a retest of the old all-time high is likely to take place.
If USD 2,057 is subsequently attacked and broken through, the 361 Fibonacci extension at USD 2,811 is activated as a price target. This bullish rise would already mean another doubling of the price from the current level. Whether and how quickly this doubling will occur is Crypto Trader difficult to predict in the current bull market. If the bulls also manage to overcome USD 2,811 in the medium term, the way would be clear in the direction of the maximum Fibonacci extensions at USD 3,277 and USD 3,565. At the current pace, these prices could be expected in the next 3 months. Certainly, the price development of Ethereum also depends on the development of bitcoin. If the reserve currency can soar towards USD 50,000, Ethereum will also venture to new heights.
Bearish variant (Ethereum)
If, on the other hand, the Ether price bounces off resistance at USD 1,303, or at the latest USD 1,425, and falls below the daily low at USD 1,053, a retest of the EMA20 (red) at USD 970 is conceivable. If the Ether price also undercuts this support at the end of the day, a retest of the important cross-support at USD 937 should be planned. This is the super-trend and the old breakout level. If the bears manage to undercut this chart mark dynamically, at least a reversal is on the cards.
The ether price could then correct to USD 747 or even USD 678. In the short term, the price could also drop to 640 USD, which would mean a 50 percent price correction from the current level. At the latest in the area of 640 USD, the bulls will come back into the market and buy up the Ether price again in the direction of 1,000 USD. If, contrary to expectations, the support around 640 USD is sustainably abandoned, the Ethereum price rally would be stopped, at least temporarily. However, as long as the Ether price generates new highs daily, short trades are not advisable.
Indicators (Ethereum)
The RSI as well as the MACD indicator have a buy signal again this week. However, both indicators show overheated conditions on a daily basis, which is why a correction cannot be completely ruled out. On a weekly basis, both indicators also have an active long signal, but overheating is also imminent here. An RSI value of 92 is only exceeded by the RSI value from 2018 at 96, so the indicator still has a little room to run.
Stellar (XLM): XLM price rises to highest value since 2018
- Price (XLM): USD 0.292 (previous week: USD 0.159)
- Resistances/targets: 0.32 USD, 0.35 USD, 0.37 USD, 0.47 USD, 0.58 USD, 0.65
- USD, 0.78 USD, 0.92 USD
- Supports: 0.249 USD, 0.229 USD, 0.207 USD, 0.189 USD, 0.159 USD, 0.143 USD, 0.119 USD
